Annual report for economic association
An economic association must always prepare an annual report and have an auditor.
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If the association is considered small, you can choose to prepare the annual report according to the simplified K2 regulations.
Large associations do not have this option, and must prepare their annual report following the main K3 regulations.
Submit to the Swedish Companies Registration Office
All associations must submit their annual report to the Swedish Companies Registration Office if the financial year starts 2025-01-01 or later.
You must submit the following:
- Annual report
- Audit report
- Consolidated accounts with audit report (if the association is the parent company of a large group).
These documents must be submitted to the Swedish Companies Registration Office within one month of the adoption of the balance sheet and profit and loss statement by the general meeting of the association. This means that the annual report must be available at the Swedish Companies Registration Office no later than seven months after the end of the financial year.
Read more about annual reports for economic associations at the Swedish Companies Registration Office
Large enterprise
A economic association is considered larger if it reaches more than one of the following criteria for each of the last two financial years.
- more than 50 employees on average
- a balance sheet total of more than SEK 40 million
- a net turnover of more than SEK 80 million
Other economic associations are normally counted as smaller enterprises.
K2 annual report
Many economic associations classified as small enterprises can choose to prepare their annual report according to the simplified K2 regulations.
If you choose to prepare your annual report according to the K2 regulations, you must follow all of the regulations. It is therefore not permissible to use advice other than that described in the guide.
K2 regulations on the Swedish Accounting Standards Board's website (in Swedish)
The following must be included in the annual report:
- Directors' report
- Profit and loss statement
- Balance sheet
- Notes
K3 annual report
The K3 regulations are the main regulations for annual reports. Larger economic associations must use K3. Many smaller associations can instead choose to use K2. If you prepare your annual report according to the K3 regulations, these regulations must be applied in their entirety. This applies regardless of whether you have voluntarily chosen to apply K3 or whether it is mandatory for your association.
K3 regulations on the Swedish Accounting Standards Board's website (in Swedish)
The following must be included in the annual report:
- Directors' report
- Profit and loss statement
- Balance sheet
- Notes
If the association is classified as large, the annual report must also include a cash flow statement. This is optional for small associations.
Auditor
All economic associations must have an auditor who examines the annual report. For a small association, there is no requirement for the auditor to be authorised. However, if the association is classified as large (see above), at least one auditor must be authorised.
More information about economic associations
Economic associations at the website of the Swedish Accounting Standards Board (in Swedish)