Italy

Financial Reporting Obligations for Companies in Italy

1. Registry for Submitting Financial Statements

In Italy, companies are required to submit their financial statements (annual reports) to the Registro delle Imprese (Business Register) ( https://www.registroimprese.it ), managed by the Camera di Commercio (Chamber of Commerce) ( https://www.camcom.it ). The official online submission system is Telemaco ( https://telemaco.infocamere.it ).

2. Legal Forms Obliged to Publish Financial Statements

Legal forms in Italy required to publish financial statements include:

  • Società a Responsabilità Limitata (SRL) – Limited Liability Company
  • Società per Azioni (SPA) – Joint Stock Company
  • Società in Accomandita per Azioni (SAPA) – Partnership Limited by Shares
  • Società in Nome Collettivo (SNC) – General Partnership
  • Società in Accomandita Semplice (SAS) – Limited Partnership
  • Cooperativa (COOP) – Cooperative
  • Società a Responsabilità Limitata Semplificata (SRLS) – Simplified Limited Liability Company

Forms not obliged to publish financial statements:

  • Impresa Individuale (II) – Sole Proprietorship
  • Libero Professionista (LP) – Freelancer / Independent Professional
  • Impresa Familiare (IF) – Family Business
  • Associazioni – Associations (NPOs, unless above thresholds)
  • Fondazioni – Foundations (unless engaged in economic activity)
  • Start-up Innovativa – Innovative Start-up (simplified rules, depends on SRL/SPA form)
  • Società Semplice (SS) – Simple Partnership

Special cases:

  • Consorzi (Consortiums): Obligations depend on thresholds.
  • Stabile Organizzazione (Permanent Establishment of foreign companies): Must follow Italian financial reporting rules.

3. Companies Requiring Audited Financial Statements

Legal Form

Audit Requirement

Criteria (Meet at least two of the three)

Società a Responsabilità Limitata (SRL) (Limited Liability Company)

Audit required if financial thresholds are exceeded

Turnover (more than) €8.8 million, Total Assets (more than) €4.4 million, Employees (more than) 50

Società per Azioni (SPA) (Joint Stock Company)

Always requires an audit

No minimum thresholds, audit is always mandatory

Società in Accomandita per Azioni (SAPA) (Partnership Limited by Shares)

Audit required if financial thresholds are exceeded

Turnover (more than) €8.8 million, Total Assets (more than) €4.4 million, Employees (more than) 50

Società a Responsabilità Limitata Semplificata (SRLS) (Simplified Limited Liability Company)

Audit required if thresholds are exceeded

Same as SRL: Turnover (more than) €8.8 million, Total Assets (more than) €4.4 million, Employees (more than) 50

Società in Nome Collettivo (SNC) (General Partnership)

Audit required if financial thresholds are exceeded

Same as SRL: Turnover (more than) €8.8 million, Total Assets (more than) €4.4 million, Employees (more than) 50

Società in Accomandita Semplice (SAS) (Limited Partnership)

Audit required if financial thresholds are exceeded

Same as SRL: Turnover (more than) €8.8 million, Total Assets (more than) €4.4 million, Employees (more than) 50

Cooperativa (COOP) (Cooperative)

Audit required if financial thresholds are exceeded

Same as SRL: Turnover (more than) €8.8 million, Total Assets (more than) €4.4 million, Employees (more than) 50

Consorzi (Consortium)

Audit required if financial thresholds are exceeded

Same as SRL thresholds

Stabile Organizzazione (Permanent Establishment)

Audit depends on parent company and Italian regulations

Follows parent company requirements or local thresholds

Enti Non Commerciali (Non-commercial entities)

Audit may be required if engaging in significant economic activity

Depends on specific activity, turnover, and public funding received

4. Local Stock Exchange and Financial Statements Publication

Companies listed on the Italian stock exchange must publish their financial statements on Borsa Italiana ( https://www.borsaitaliana.it ).

5. Deadline for Submitting Financial Statements

  • Standard deadline: within 120 days after fiscal year-end.
  • Extended deadline: up to 180 days if subject to audit or exceptional cases.

6. Companies Submitting Partial Financial Statements

Small companies and NPOs below thresholds may submit simplified financial statements. Simplified regime generally applies if turnover is under €700,000.

7. Consequences for Late Submission of Financial Statements

  • Fines: from €1,032 to €10,329.
  • Legal Actions: persistent failure can result in dissolution and removal from the Business Register.

8. Requirements for Foreign-Owned Branches and Newly Established Companies

Foreign-owned branches must comply with Italian law and parent company obligations. Newly established companies must file their first financial statements by the end of the fiscal year following incorporation.

Sources

Source

Link

Registro delle Imprese (Business Register)

https://www.registroimprese.it

Camera di Commercio (Chamber of Commerce)

https://www.camcom.it

Telemaco – Infocamere Filing System

https://telemaco.infocamere.it

Borsa Italiana

https://www.borsaitaliana.it

Legge sulla Revisione Legale (Auditors Act)

https://www.normattiva.it
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