Filing share capital reduction under S78E (members' approval)

Before you file

Step 1: Log in to Bizfile and open the “Update reduction of share capital” eService

Follow these steps to navigate to the Update reduction of share capital eService.

Note: All entity and personal information (including UEN, entity details, NRIC or FIN numbers, names and addresses) shown are dummy data for illustration purposes only.

1. Click "Login" on the Bizfile homepage and select "Business User" to log in via Corppass.

2. Check that the correct entity name appears on the top menu bar and dashboard.

3. (CSP) On the "My profile – Select profile” page, click on the “Corporate Service Provider” tab. If you belong to more than one CSP firm, select your CSP firm from the dropdown list.

6. The "Overview of share capital reduction" page will show that the publication for proposed reduction of share capital under section 78B or 78C been filed. Click "Continue reduction" to proceed.

Step 2: Enter reduction information

Upload the required documents and state the directors who signed the solvency statement.

1. On the "Reduction of share capital" page, select “File reduction of share capital by special resolution under S78E” and click "Start".

2. Check the details of reduction of share capital. Then, upload the statement of directors and solvency statement.

3. Select the directors who signed the solvency statement and click "Save".

4. If there are directors not registered with the entity, select "Others" and enter their details. Then, click "Next".

Step 3: Update share information

Enter the share capital and shareholding details after the reduction.

1. (Update share capital) Expand the relevant share capital to be reduced and select "Edit".

2. (Update share capital) Update the number of shares, issued share capital and paid-up share capital. Then, click "Save".

3. (Update shareholding details) Expand the relevant shareholder's share allotment to be changed and click "Edit".

6. (Update shareholding details) If the changes reduce any shareholder's shares to zero, confirm if your company qualifies as an exempt private company. Then, click "Next".

Step 4: Review and submit

Ensure that the shareholdings before and after the reduction are accurate.

1. Check that you have entered all information correctly. Then, tick the declaration box and click "Submit".

2. After successful submission, you will receive an acknowledgement message.

3. You will also see a Bizfile notification that confirms the successful submission.

After you file

You can check the reduction in share capital immediately:

1. Click "View entity details" on your entity's dashboard.

2. Click "Share capital and shareholders".

Related pages

• Reducing share capital