New Deadlines for Approving and Submitting Financial Statements in Lithuania from July 2026

Starting July 1, 2026, significant amendments to the Republic of Lithuania Law on Companies will come into effect, bringing welcome news to business owners and accountants. The new regulations introduce extended and more straightforward deadlines for the approval and submission of annual financial statements to the Register of Legal Entities (JAR).

Under the updated legislation (Law No. XV-386), the annual general meeting of shareholders for public limited liability companies (AB) and private limited liability companies (UAB) must be held no later than 5 months after the end of the financial year. Previously, companies were given 4 months to hold this meeting.

The procedure for submitting the approved financial statements to the JAR is also changing. Statements must now be submitted within the same 5-month period following the end of the financial year. The old rules required submission within 30 days of the shareholders' meeting, which created variable deadlines. The new deadline provides a fixed timeframe for all companies.

If your company's financial year aligns with the calendar year (ending on December 31), the ultimate deadline for both approving and submitting your financial statements will be May 31. This gives accountants and managers an entire additional month for financial preparation, audits, and final approvals. This change is particularly beneficial for companies that require a mandatory statutory audit, a process that frequently demands extra time. Furthermore, a fixed 5-month deadline will minimize confusion and simplify compliance tracking.

It is important to note the transitional period. These amendments apply to companies whose financial year ends on or after July 1, 2026. Consequently, the financial statements for 2025 (for financial years ending December 31, 2025) must still be processed under the old rules: approval by April 30 and submission within 30 days of that approval. The benefits of the new system will be fully realized when preparing and submitting the 2026 financial statements in 2027.