Who is required to submit a financial statement to the National Court Register (KRS)?
Submitting a financial statement to the National Court Register (KRS) is mandatory for entities registered in the KRS that keep full accounting records in accordance with the Accounting Act. This obligation primarily applies to capital companies – limited liability companies and joint-stock companies – as well as limited partnerships and limited joint-stock partnerships, provided they meet specific statutory criteria.
It is important to note that being registered with the KRS does not automatically imply an obligation to submit financial statements. For example, associations and foundations that do not conduct business activities, although registered in the KRS, are not required to file financial statements. For such entities, simplified accounting is sufficient.
How to prepare and submit an e-financial statement to the KRS?
Preparing and filing an electronic financial statement (e-statement) with the National Court Register (KRS) requires diligence and familiarity with current legal requirements. The process includes several key steps:
1. Preparing the financial statement in XML format
Since October 1, 2018, all financial statements must be prepared electronically, in compliance with published logical structures (XSD), and saved in XML format. These structures are available on the website of the Ministry of Finance.
The financial statement should include the following components:
- balance sheet,
- profit and loss account,
- notes (additional information),
- cash flow statement (if required),
- statement of changes in equity (if required).
The XML file can be generated using commercial accounting software or the free “e-Sprawozdania Finansowe” application provided by the Ministry of Finance.
2. Signing the financial statement
Once the statement is ready, it must be signed with a qualified electronic signature or a trusted profile by a member of the management board. If the entity is managed by a multi-person body, at least one member may sign the report. However, other members must first submit a declaration stating that the financial statement meets the requirements of the Accounting Act – or formally refuse to provide such a declaration.
3. Submitting the statement to the KRS
The approved financial statement must be submitted to the KRS within 15 days of its approval. Submission takes place via:
- the Financial Documents Repository (RDF) available on the website of the Ministry of Justice – the submission must be made by a person authorized to represent the entity and whose PESEL number is disclosed in the KRS,
- the S24 system (for companies registered in that system).
Entrepreneurs registered in the KRS business register are no longer required to submit financial statements separately to the tax office.
Can the financial statement be prepared on your own?
Submitting an e-statement to the KRS is technically a simple process – it consists of uploading a signed XML file via the appropriate platform. The real challenge lies in preparing the content of the statement itself. Preparing the balance sheet, profit and loss account, additional notes, or cash flow statement requires thorough and accurate bookkeeping throughout the year.
Ideally, the statement should be prepared by the person or entity responsible for maintaining the company’s accounting records. This ensures reliability and compliance with applicable regulations.
External support – when is it worth considering?
Outsourcing the preparation of financial statements is becoming increasingly popular – and for good reason. For many businesses, it's a way to save time, avoid errors, and improve process security. External experts not only prepare the documents in accordance with legal requirements but also provide advisory support in tax and financial reporting matters.
This form of cooperation does not mean loss of control – quite the opposite. The client decides which areas to outsource and which to retain in-house. Experts offer flexible cooperation models tailored to the company’s specific needs and scale of operations.
Access to financial statements online
The Ministry of Justice provides a public online viewer of financial documents, which allows for free searching, viewing, and downloading of financial statements and other documents submitted by entities registered in the KRS. This is a key tool for entrepreneurs, analysts, investors, and anyone interested in a company’s financial condition.
The platform includes access to financial statements, management reports, shareholder resolutions, and auditor opinions. The service is free, publicly available, and does not require account registration.
Accounting outsourcing – more than just saving time
With the right approach, closing the financial year does not have to be a source of stress or uncertainty. Properly prepared and timely financial statements not only fulfill legal obligations but also offer a strategic view of the company’s financial health.
What matters most in this process is a partnership-based approach – one that is grounded in mutual understanding, open communication, and tailored solutions.
At PKF BPO, we specialize in preparing both individual and consolidated financial statements in accordance with the Accounting Act and International Financial Reporting Standards (IFRS). We offer comprehensive support to clients for whom we manage accounting books, as well as those who handle them independently.
Our services include compilation of statements based on client-maintained records, consolidation packages for capital groups, and interim financial reports necessary for effective management.
The PKF BPO team works alongside clients as trusted partners, providing expert knowledge and guidance at every stage. Our goal is not just to deliver a final XML file, but to ensure confidence, security, and peace of mind during one of the most important times of the financial year – the closing of the books.