A villa PT PMA's year: the reports, the meeting and the audit

A PT PMA that owns a villa is a company first. The company law sets its annual cycle — a report, a meeting, sometimes an audit — and the investment rules add a quarterly report of their own. Most of it is paperwork; all of it has consequences when skipped.

The year on one page

The company-law cycle

The annual report

The directors submit an annual report to the GMS, after review by the board of commissioners, no later than six months after the financial year ends (UU 40/2007, Pasal 66(1)). It contains at least the financial statements — balance sheet against the previous year, profit and loss, cash flow, changes in equity and notes — a report on the company's activities, the report on social and environmental responsibility, problems that affected the business, the commissioners' supervision, the names of directors and commissioners, and their pay (Pasal 66(2)).

Signatures

All directors and commissioners in office during the year sign it, and it is available at the company's office for shareholders from the date of the GMS notice. A member who does not sign gives written reasons, or is deemed to have approved (Pasal 67).

The annual GMS

The annual general meeting must be held within six months after the financial year ends, and all the annual-report documents are put to it (Pasal 78). The directors convene it; shareholders holding a tenth of the voting shares, or the commissioners, can require it (Pasal 79).

The audit question

The directors must give the financial statements to a public accountant for audit if the company manages public funds, issues debt to the public, is listed, is a state persero, has assets and/or turnover of at least IDR 50 billion, or is required to by regulation (Pasal 68(1)). If a required audit is not done, the GMS cannot approve the financial statements (Pasal 68(2)).

For most single-villa companies the IDR 50 billion line is the one that matters. A PT PMA in accommodation must invest more than IDR 10 billion including land and buildings (BKPM 5/2025, Pasal 26(5)) — a company with several villas, or one expensive plot, can cross IDR 50 billion of assets without crossing it in turnover.

One year, dated

For a company whose financial year is the calendar year 2026: the fourth-quarter LKPM is due by 15 January 2027; the first-quarter LKPM by 15 April 2027; the directors' annual report, reviewed by the commissioners, and the annual GMS that receives it, by 30 June 2027 — with the audit done before that meeting if the company is in Pasal 68; the second-quarter LKPM by 15 July 2027. The six-month company-law deadlines and the quarterly investment deadlines run on separate clocks, and a company managing only one of them is half-compliant.

The investment-ministry cycle

LKPM every quarter

A PMA is a large business and files the LKPM every quarter, by 15 April, 15 July, 15 October and 15 January; missing two consecutive periods starts a sanction ladder that ends in revocation of the business license. LKPM in full.

The capital lock

Paid-up capital — at least IDR 2.5 billion per company — may not leave the company's account for 12 months from deposit, except to buy assets, construct buildings or fund operations; the company commits to this in a self-declaration on OSS, and breaching it attracts administrative sanctions (Pasal 26(10), 27).

The rest of the calendar

The tax filings, the hotel tax returns if the PT supplies the stays — hotel tax filing — and the corporate income tax — which rate. A company that stops doing all this is not closed; it is in default. Closing it properly.

What this page does not cover

• Annual tax return deadlines. The tax procedure law was not read for this page.
• Accounting standards. Not covered.
• Publication of accounts. Required only for the Pasal 68(1)(a)-(c) companies.

Common questions