Sweden

Financial Reporting Obligations for Companies in Sweden

1. Submission of Financial Statements

In Sweden, companies are required to submit their financial statements to the Bolagsverket (Swedish Companies Registration Office) (https://bolagsverket.se/en). The registry is maintained by Bolagsverket.

2. Legal Forms Required to Publish Financial Statements

The following legal forms in Sweden are obliged to publish their financial statements:

  • Aktiebolag (AB – Limited Liability Company)
  • Publikt aktiebolag (publ – Public Limited Company, Listed)
  • Ekonomisk förening (EF – Economic Association)
  • Handelsbolag (HB – General Partnership)
  • Kommanditbolag (KB – Limited Partnership)
  • Förening (Association)

Legal forms that are not obliged to publish financial statements include:

  • Ensam firma (EF – Sole Proprietorship)
  • Ideell förening – Non-profit Association

Note: Sole proprietorships with turnover less than SEK 3 million can submit simplified annual accounts. If turnover is more than SEK 3 million, ordinary annual accounts must be submitted.

3. Audit Requirements

The obligation to audit financial statements in Sweden depends on company type, turnover, assets, and number of employees. The table below summarizes the requirements:

Legal Form Audit Requirement Criteria
Aktiebolag (AB – Limited Liability Company) Audit required unless small company exemption applies Exempt if not exceeding 2 of 3: turnover (less than) SEK 3m, assets (less than) SEK 1.5m, employees (less than) 3
Publikt aktiebolag (publ – Public Limited Company) Always required Mandatory for all listed companies
Handelsbolag (HB – General Partnership) Required if legal entity is a partner or if considered large Large = 2 of 3: turnover (more than) SEK 80m, assets (more than) SEK 40m, employees (more than) 50
Kommanditbolag (KB – Limited Partnership) Same as Handelsbolag Audit if large or with legal entity partner

4. Financial Statements for Listed Companies

Companies listed on the Swedish stock exchange must publish their financial statements on Nasdaq Stockholm (https://www.nasdaq.com/market-activity/exchanges/stockholm).

5. Deadline for Submission

The deadline for submitting financial statements to Bolagsverket (https://bolagsverket.se/en) is within 7 months after the end of the financial year. For example, if the financial year ends on December 31, the deadline is July 31 of the following year.

6. Partial Financial Statements

Certain smaller companies can submit abridged or simplified financial statements if they meet the exemption thresholds (e.g., small Aktiebolag).

7. Consequences of Non-Compliance

  • Fines: Late submission can result in monetary fines.
  • Penalties: Continued failure may lead to additional penalties.
  • Legal Actions: Non-compliance can result in court actions.
  • Striking Off: In severe cases, companies may be struck off the register.

8. Requirements for Foreign-Owned Branches

Foreign-owned branches in Sweden must comply with the same reporting obligations as local companies and file financial statements with Bolagsverket (https://bolagsverket.se/en).

Sources

Source Link
Bolagsverket – Swedish Companies Registration Office https://bolagsverket.se/en
Nasdaq Stockholm – Swedish Stock Exchange https://www.nasdaq.com/market-activity/exchanges/stockholm
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