Sri Lanka, Oct. 31 -- Legal action, including fines up to Rs. 1 million, imprisonment for up to 10 years, or both, could be faced by companies failing to submit their Beneficial Ownership information, the Department of the Registrar of Companies warned.

The Registrar General of Companies stated in a notice issued on October 28 that the extended deadline of October 21, 2026, expired, urging non-compliant entities to submit outstanding details immediately.

A previous extension shifted the original September 30, 2026 deadline to October 21.

Non-compliance with statutory requirements concerning Beneficial Ownership forms an offence under the Companies Act, No. 7 of 2007, as amended by the Companies (Amendment) Act, No. 12 of 2025, accordin...