Panama Accounting Records Declaration — Simplified Annual Compliance
Stay compliant with Panama's Law 52 accounting records obligations. We prepare and coordinate your annual declaration, ensuring your entity meets regulatory requirements and avoids penalties.
Understanding Panama's Accounting Records Declaration
Panama's Accounting Records Declaration is a mandatory annual obligation established under Law 52 of 2016 and strengthened by Law 254 of 2021. Every legal entity registered in Panama must maintain proper accounting records and submit them to their Resident Agent each year.
The declaration covers a broad range of entities — corporations (S.A.), limited liability companies (SRL), and private interest foundations alike. Requirements vary depending on whether the entity is actively operating, holding assets, or dormant, but no entity type is fully excluded from this obligation.
These regulations form part of Panama's commitment to international financial transparency standards. Executive Decree 177 of 2024 further refined the framework, introducing entity classification categories and updated compliance timelines.
Information Required
Financial Statements or Summary
Supporting Documentation
Entity Classification Details
Record Location Declaration
CPA certification is no longer required under Executive Decree 177. Documents may be signed by a director, foundation council member, or the ultimate beneficial owner.
Filing Exemptions
Tax-Resident Entities
Stock Exchange Listed
Regulated Financial Entities
International Maritime Vessels
Exempt entities must still maintain accounting records and produce them within 20 business days upon regulatory request.
Penalty Structure
Monetary fines
Penalties ranging from US $5,000 to US $1,000,000 depending on the nature and severity of non-complianceSuspension of corporate rights
The entity may lose its legal capacity to act and transact through the Public RegistryPublic Registry restrictions
Inability to register documents or obtain certificates until compliance is restoredCompulsory liquidation
Persistent non-compliance may result in forced administrative dissolution of the entityNon-compliant entities face restrictions at the Public Registry and may be unable to obtain good standing certificates. Resident Agents are also subject to fines for failing to report non-compliance.
Accounting Records Declaration Deadline
Accounting records for each fiscal year must be delivered to the Resident Agent by April 30 of the following year. The Resident Agent then files the sworn declaration with the DGI by June 15.
| Fiscal Year | Records Due to Resident Agent | Agent Declaration to DGI | Recurring Annually |
|---|---|---|---|
| 1st January 2024 to 31st December 2024 | April 30, 2025 | June 15, 2025 | Same dates each year |
| 1st January 2025 to 31st December 2025 | April 30, 2026 | June 15, 2026 | Same dates each year |
Your Accounting Records Declaration, Handled
We take care of every step in Panama's accounting records process — so you can focus on running your business.
Included in Your Package
The declaration service comes bundled with your Expanship compliance plan at no extra cost — no separate fees apply.
Panama Regulatory Knowledge
Our team stays current with Law 52, Law 254, and the latest executive decrees to ensure every declaration is accurate.
Single Point of Contact
Your dedicated relationship manager knows your entity's history and handles all declaration-related coordination.
Proactive Deadline Alerts
Receive advance notifications before the April 30 submission window, with regular check-ins to keep everything on schedule.
Efficient Processing
Once your records are signed, we coordinate submission promptly to keep your entity's compliance status current.
Your Declaration, Taken Care Of
From record compilation to Resident Agent coordination, we manage every aspect of your Panama declaration.
No Separate Charges for Your Declaration
Panama's accounting records declaration is part of your compliance package. Core regulatory obligations are covered from day one.
For Existing Customers
For Company Transfers
What's Included
Full declaration preparation and compilation
Coordinated submission through Resident Agent
Compliance confirmation and record-keeping
Dedicated relationship manager
Advance deadline notifications
How Your Accounting Records Declaration Works
A step-by-step look at how we manage your Panama accounting records declaration from beginning to end.
Begin Your Declaration
Reach out to initiate your Panama accounting records declaration. We verify your entity classification, confirm the reporting period, and outline the documentation needed.
Gather & Prepare Records
We assist in compiling your financial statements or position summary along with supporting documents. A director or beneficial owner signs the required declaration — no CPA certification needed.
Coordinate with Resident Agent
With your signed documents ready, we coordinate the submission to the Resident Agent, who incorporates your records into the sworn declaration filed with the DGI.
Receive Compliance Confirmation
Once the declaration is processed, we share confirmation that your entity has fulfilled its accounting records obligation for the fiscal year.
Let Us Manage Your Accounting Records Declaration
Accurate, timely, and fully coordinated. We handle your Panama declaration end to end.
Frequently Asked Questions
Answers to common questions about Panama's accounting records declaration.
For entities already on an Expanship compliance package, the declaration is handled at no extra charge. For companies transitioning to Expanship with outstanding declarations, the fee is US$225 per filing period.
After receiving your signed records, we typically finalize and coordinate the filing within 24 hours. Our team ensures everything aligns with the requirements under Law 52 and Executive Decree 177.
We can help with overdue declarations and work to bring your entity back into compliance. This includes coordinating any penalty-related matters and ensuring the Resident Agent files the necessary updates with the DGI.
You will need to supply your financial figures — assets, liabilities, income, and expenses — along with supporting records such as bank statements and contracts. If you use our accounting services, we prepare the financial summary and you simply review and sign.
Yes. Your declaration is submitted through the Resident Agent to the DGI and is not made publicly available. Confidentiality is maintained at every stage of the process.
This service is offered to Panama-registered entities managed through Expanship, including corporations (S.A.), limited liability companies (SRL), and private interest foundations. Entities with another provider can transfer to Expanship to access this service.
Yes. We send advance reminders well before the April 30 submission date each year. Your relationship manager will reach out with instructions and guide you through the required steps.
Our accounting team can help you get your records in order. We offer bookkeeping and accounting services that integrate directly with the declaration process, making compliance straightforward.
Yes. Once the Resident Agent processes and files the sworn declaration with the DGI, we provide you with a compliance confirmation as proof your entity has met its obligation for that fiscal year.
Questions About Your Declaration?
Whether it's about deadlines, required documents, or entity classification — our team is ready to assist with your Panama declaration.
