Through Order of the Ministry of Finance no. 2036/2025, the regulations on the preparation and submission of annual financial statements and annual accounting reports to the National Agency for Fiscal Administration (ANAF) have been updated. The order applies to reporting related to the 2025 financial year and largely maintains the structure of previous regulations, while introducing several important procedural clarifications.
Who is required to submit annual financial statements
The obligation to prepare and submit annual financial statements applies to:
- entities applying the Accounting Regulations approved by OMF no. 1802/2014, including those with a financial year different from the calendar year;
- entities applying accounting regulations compliant with IFRS, approved by OMF no. 2.844/2016, including those with a non-calendar financial year.
Entities that submit annual accounting reports
In certain situations, economic operators do not prepare annual financial statements, but instead submit annual accounting reports, such as:
- legal entities in liquidation;
- Romanian branches of companies resident in states of the European Economic Area;
- entities that have opted for a financial year different from the calendar year;
- entities applying IFRS accounting regulations.
Method of submission
Starting with reporting for the 2025 financial year, the submission of annual financial statements and accounting reports is carried out exclusively in electronic format, via the ANAF portal, in accordance with the technical specifications published by the authority. This rule is aligned with GEO no. 138/2024 on the digitalization of tax procedures.
Submission deadlines
Annual financial statements must be submitted:
- by 31 May (inclusive) of the year following the reporting year, for:
- companies regulated by Law no. 31/1990;
- national companies and corporations;
- autonomous administrations;
- national research and development institutes;
- by 30 April (inclusive), for the other entities provided for under Accounting Law no. 82/1991.
Romanian branches of foreign legal entities and foreign legal entities with effective management in Romania submit financial statements by 31 May, subject to the exceptions applicable to entities from the European Economic Area.
Entities without activity
Entities that have carried out no activity from incorporation until the end of the financial year do not prepare annual financial statements, but are required to submit a declaration of inactivity to ANAF within 60 days from the end of the financial year.
Risks and sanctions
Failure to submit annual financial statements results in administrative sanctions, as follows:
- fines between RON 2,000 and RON 5,000 for non-submission;
- fines between RON 300 and RON 4,500, depending on the length of the delay, for late submission.
In addition, starting 1 January 2026, Law no. 239/2025 introduced a major new risk: ANAF may declare companies fiscally inactive if financial statements are not submitted within five months after the legal deadline expires.
OMF no. 2036/2025 reaffirms the importance of complying with accounting reporting deadlines and procedures. In the context of stricter sanctions and the increased risk of fiscal inactivity, timely planning of the submission of annual financial statements becomes essential for any economic operator.