The Public Registry of Commerce Modified Certain Obligations for Non-Profit Organizations

On November 18, 2022, the Public Registry of Commerce (IGJ) published General Resolution No. 14/2022, partially modifying General Resolution No. 07/2015, and establishing certain obligations non-profit organizations must comply with, according to their size.  

 

Article 1 of the resolution states that, when non-profit organizations (except those included in Category I) file the documents in connection with their regular meetings (art. 410), or when foundations file their annual reports and financial statements approved by the administrative board, they will have to include as well the annual inventory certified by certified public accountant and undersigned by the legal representative of the board of directors or administrative board and the supervisory committee. This inventory can be filed as digital media (USB flash drives, compact discs, etc.).

 

Article 2 establishes that, when changing the registered office, if this does not involve a change in the by-laws, the following documents must be filed as “expedited processing”:

 

1. Action form.

 

2. Professional pre-qualification report (except non-profits in Category I with registered authorities in force).

 

3. First notarial copy of the deed or original private document signed by the president and the secretary of the entity.

 

The main novelty in this resolution is in article 3, which establishes a category of non-profit organizations according to their incomes. The resolution provides for three categories:

 

• Category I: first degree non-profit organizations established in Argentina with a total income per fiscal year below the amount provided for Category H of the Simplified Tax Regime (monotributo) in force at the time the fiscal year ends.

 

• Category II: first degree non-profit organizations established in Argentina with a total income per fiscal year above the amount provided for Category H of the Simplified Tax Regime in force at the time the fiscal year ends, but below ten times such amount.

 

• Category III: first degree non-profit organizations established in Argentina with a total income per fiscal year above the amount provided for Category II, as well as those established abroad, chambers, federations, and confederations, regardless of the total income per fiscal year.

 

This article details as well the documents that non-profit organizations will have to file before the IGJ regarding annual regular meetings, depending on their category. 

 

Finally, article 5 established the documents non-profits must file if they modify the structure of the administrative body. The documents vary depending on whether the non-profit is classified under Category I or under Categories II and III.

 

The resolution will become effective on January 2, 2023.