How do legal amendments affect businesses?

The new Trade Register Act came into force on 1 June 2023. The law will be partially applied starting in 2025 and 2026.

In 2024: New legislative proposal

The Parliament is considering an amendment that would allow businesses removed from the Trade Register since 2023 to apply for re-registration. Read more in the press release (in Finnish): TEM tiedottaa: Kaupparekisterilain muutokset lausuntokierrokselle (Amendments to the Trade Register Act are under consultation).

In 2024: Limited liability companies as mutual limited liability companies

In 2025: Late filing fee for financial statements

This fee applies to financial periods ending in or after December 2024. The PRH will impose a late filing fee if a limited liability company, cooperative, European company, or European cooperative does not submit its financial statements to the Trade Register within 8 months of the end of the financial period.

The fee depends on the duration of the delay:

• 150 euros if the financial statement is submitted up to 2 months late
• 300 euros if submitted 2–4 months late
• 600 euros if submitted over 4 months late or not submitted at all.

• Financial statements are not submitted for two or more consecutive financial periods
• The company is a public limited company or European company

In 2025: Negligence fee

The PRH can impose a fee on companies that do not correct deficiencies or errors in their Trade Register information despite requests from the PRH. The PRH can impose a fee for issues such as:

• Missing address
• Missing board of directors
• Missing beneficiary information
• Errors in register information (e.g., illegal board members or unauthorised auditors)
• Responsible persons or auditors being disqualified

The negligence fee is 300 euros. For public limited companies and European companies, the fee is 600 euros. The fee is doubled if the company has not corrected the deficiency despite requests from the PRH.

In 2026: Online service becomes mandatory

In 2026: Annual verification of registered information to the Trade Register

From 2026, limited liability companies and cooperatives must annually verify the information registered in the Trade Register. Companies must also check their contact details in the Business Information System (YTJ).

The obligation to verify information also applies to European companies, European cooperatives, and foreign entrepreneurs who have established a branch in Finland. The information can be verified in the YTJ service.
If a company fails to verify its registered information, the PRH may impose a negligence fee from 2027 onwards. The fee is 300 euros, while for public limited companies and European companies, the fee is 600 euros.