The Companies Commission of Malaysia (SSM) has officially enforced the requirement for all Limited Liability Partnerships (LLPs/PLTs) to identify and declare their Beneficial Owners (BOs) effective from 31 January 2025.
To facilitate a smooth transition, SSM has granted a five-month grace period from 30 May 2025 to 31 October 2025. Submissions made within this period will not be subject to penalties.
What Is a Beneficial Owner (BO)?
: A Beneficial Owner refers to the natural person who ultimately controls or benefits from the LLP — the individual who has actual decision-making power, ownership, or entitlement to profits.
Key Dates & Requirements
Grace Period: 30 May – 31 October 2025
Full Enforcement: From 1 November 2025 onwards
→ Once a BO is identified, LLPs must submit the declaration within 14 days.
→ if an individual partner’s annual profit distribution exceeds RM100,000, a 2% tax rate will apply.
Penalties for Non-Compliance
Failure to submit within the stipulated time may result in:
A fine up to RM20,000
An additional daily fine of RM500 for continued offences
Steps LLPs Should Take Now
1. Identify your LLP’s Beneficial Owners (BOs)
2.Record & keep relevant information (name, ID, ownership percentage, control method, etc.)
3.Submit the BO declaration through the SSM e-BOS system
Deadline: 31 October 2025
All LLPs are strongly advised to complete their BO submissions as soon as possible to ensure full compliance and avoid penalties or delays.
**Data updated on 16.10.2025
(201706002678 & AF 002133)