More than 6,000 companies were struck off in the first eight months of this year, the Companies Registration Office (CRO) said, ahead of a campaign aimed at reminding company directors to file annual returns on time.
There have been 3,414 involuntary strike-offs and 2,667 voluntary ones so far this year. However, the figures indicate the full-year number will probably be down from last year and a 2003 peak of 20,319, the CRO said.
"We are unlikely to reach last year's level of 13,624 strike-offs," said Paul Farrell, registrar of companies. "And we are hopeful that this trend will continue downwards as we push to improve compliance rates still further."
A tougher system of enforcement is prompting more companies to show greater compliance with the rules for filing accounts. The Integrated Enforcement Environment, introduced during 2004, rigorously tracks company behaviour, especially those firms that file accounts late or not at all.
The stiffer enforcement regulations saw the number of companies struck off more than double to 13,624 last year.
The CRO said in July that 84 per cent of companies had filed their annual returns on time in 2005, the fourth increase in a row.
The office is running its campaign, "You've Got a Date," from tomorrow because it expects to deal with larger numbers as a result of 12,620 new businesses being added to the register since January. The major filing period is this month and next.
Companies and their directors can face severe penalties and sanctions if they are struck off. They may lose their assets as well as their limited liability.
In addition, directors could be disqualified from acting in that capacity again or from having any involvement in the management of a company.
A number of well-known and wealthy individuals have taken their companies private in recent years, transforming their companies into unlimited entities in a bid to protect their privacy.
Companies to go down this route include Aer Arann, the regional airline owned by Pádraig O'Ceidigh, and the family-owned Barry's tea company in Cork.