Your first Estonian annual report — a step-by-step guide

27 June 20268 min readannual reportfirst yearEstonia

Your first annual report differs from later ones in two ways: the fiscal year can run up to 18 months (RPS paragrahv 13 lg 2), and no prior-year comparative figures are required. Everything else is the same — a balance sheet, an income statement, and at least one note. It is due six months after the end of your first fiscal year.

Part of the guide: Filing the Estonian annual report

How is the first report different?

Two things make the first report different; everything else is the same as every year after.

First, the length of the fiscal year. A normal financial year is 12 months (1 January to 31 December). But a newly formed company's first fiscal year can be shorter or longer — up to 18 months (RPS paragrahv 13 lg 2). If you founded your OÜ in October 2025, your first fiscal year can run 1 October 2025 to 31 December 2026. It is your choice, and it is fixed in your articles of association.

Second, comparative figures. A normal report has two columns in the balance sheet and income statement — current year and prior year (RPS paragrahv 22). In the first year there is no prior year, so the comparison column stays empty. The first-year balance sheet shows the opening balance as of the founding date (RPS paragrahv 26), not dashes.

When is the first report due?

Six months after the end of your first fiscal year (Äriseadustik paragrahv 179): if it ends 31 December 2026, the deadline is 30 June 2027. If you chose a long first period of up to 18 months, you do not file the short first part separately; it is merged with the following year into a single report. More on dates: annual report deadline in Estonia.

What documents do you need?

The list is shorter than in later years, because there are no comparatives to gather: the bank statement as a CSV file for the whole first fiscal year, from founding to year end, and EMTA tax data only if you paid salary or board member fees. The full list is on file your annual report yourself.

One item is specific to the first year: share capital contribution details. It matters how the share capital was paid in — in cash at founding, or later under the no-contribution founding option. This shows up in equity and affects whether the balance sheet balances.

What does the report contain?

The same as every year: a balance sheet, an income statement and notes, as described in micro-entity annual report in Estonia. A management report is needed only if equity has fallen below half of share capital (Äriseadustik paragrahv 176); in the first year this happens when operations started at a loss large enough to erode the share capital.

How to file the first report

The steps on the Business Register portal (ettevotjaportaal.rik.ee) are the same as every year; see file your annual report yourself, or the guide for e-Residents if you live outside Estonia. One first-year check: when you add the new report, check the fiscal year dates carefully. In the first year they may not be 1 January to 31 December, but start from your founding date.

Where first-timers get stuck

Opening balance and share capital. The first-year balance sheet starts from the opening balance at the founding date. If the share capital is declared but not yet paid in, it must be shown as a receivable from shareholders — many people forget this.

The accrual principle. RPS paragrahv 5 requires accrual accounting. In the first year that means: an invoice issued in December but paid in January belongs to the first year (a receivable), and an unpaid supplier invoice received at year end is also a first-year expense.

Dates. The wrong fiscal-year length is the most common first-year mistake. Check your articles of association for the dates you chose.

If you are weighing DIY against an accountant or a tool, see annual report cost.

References

Raamatupidamise seadus (RPS / Accounting Act) — paragrahv 13 lg 2 (fiscal year length, up to 18 months), paragrahv 15 (simplified report), paragrahv 22 (comparative data), paragrahv 26 (first-year opening balance).
Äriseadustik (AS / Commercial Code) — paragrahv 176 (net assets requirement), paragrahv 179 (filing deadline, revenue breakdown, profit distribution proposal).
RTJ standards — RTJ 1 (general framework); issued under Finance Minister regulation no. 105.
Registrite ja Infosüsteemide Keskus (RIK) — operates the Business Register and ettevotjaportaal.rik.ee.

Or skip it — nosweat.finance builds your first report in about 15 minutes. Upload your bank statement, review the result, and submit it yourself.