Annual Financial Statements in Romania

Which rules apply to the submission of annual financial statements in Romania?

Every year, the Ministry of Finance issues an order on the main aspects of preparing and submitting annual financial statements and annual accounting reports of economic operators. For the financial year 2025, the applicable order is Minister of Finance Order no. 2036/2025, published in the Official Gazette in January 2026.

According to the provisions of this order, its provisions are enforced by entities to which the accounting Regulations relating to the annual individual financial statements and the consolidated annual financial statements apply, as well as those entities which are under the accounting Regulations in accordance with the International Financial Reporting Standards, applicable to companies whose securities are admitted to trading on a regulated market.

Entities under the accounting Regulations on individual annual financial statements and the consolidated annual financial statements are required to prepare annual financial statements and submit them to the National Agency for Fiscal Administration (ANAF).

Companies whose securities are admitted to trading on a regulated market prepare their individual annual financial statements in accordance with the International Financial Reporting Standards (IFRS).

It is useful to know that entities may choose a financial year different from the calendar year pursuant to art. 27 of Law no. 82/1991.

For companies that operate in Romania through multiple PEs, annual financial statements and accounting reports will be drawn up by the permanent establishment fulfilling tax obligations. Moreover, the law stipulates that permanent headquarters in Romania which belong to legal entities domiciled abroad are required to prepare annual financial statements and accounting reports.

What are the legal deadlines for the submission of financial statements and accounting reports in Romania?

Regarding the deadlines for submitting financial statements and accounting reports, the Order provides that:

• entities authorised, regulated and supervised by the National Bank of Romania or by the Financial Supervisory Authority (ASF) prepare annual financial statements as at 31 December, under the specific rules that apply to them;
• non-profit legal persons prepare annual financial statements as at 31 December, under the accounting regulations that apply to them;
• companies governed by Law no. 31/1990, national companies, autonomous administrations and national institutes of research and development submit their annual financial statements by 31 May of the following year (for the financial year 2025, the deadline was 2 June 2026, because 31 May fell on a Sunday and 1 June was a public holiday);
• the other persons mentioned in art. 1 para. (1) - (3) of Law no. 82/1991, such as associations, foundations and other legal persons with or without patrimonial purpose, submit them by 30 April of the following year;
• Romanian subunits of companies established abroad and permanent establishments of foreign legal persons submit their annual financial statements by 31 May of the following year;
• legal entities that are in liquidation submit annual accounting reports during the liquidation.

Also, entities opting for a financial year different from the calendar year, as well as subunits opened in Romania by companies resident in countries belonging to the European Economic Area, file annual accounting reports, under the specific rules of the annual order.

Annual financial statements and accounting reports are submitted to ANAF only in electronic form, on the portal www.e-guvernare.ro, signed with a qualified electronic signature. Submission on paper or by post is no longer possible.

For further information and legal advice in respect of the submission of financial statements, do not hesitate to contact one of the lawyers specialized in commercial law within the law firm Darie, Manea & Associates. Our team of lawyers is dedicated to provide our customers with complete and updated information, legal advice and representation before the competent authorities if required.

by Cristian Darie