Digital-Only Filings Begin – Stay Compliant with IRIS Instant  

As of June 1, 2025, the Malaysian Business Reporting System- MBRS 2.0 Phase 3 is now officially in effect. This milestone marks the complete digitalization of statutory document submissions under the Companies Act 2016, with no more physical filings accepted at SSM counters. 

The Companies Commission of Malaysia (SSM) has reaffirmed its commitment to a digital-first ecosystem by enforcing mandatory online submissions for a broader set of statutory filings- and offering a grace window to ease the transition. 

The Malaysian Business Reporting System (MBRS) is SSM’s digital platform for corporate statutory filings in XBRL (eXtensible Business Reporting Language) format. The latest iteration- MBRS 2.0– is being rolled out in three phases: 

• MBRS 2.0 Phase 1 (Dec 1, 2024): Online filing of annual returns, unaudited financial statements, and filings by exempt private companies under the Companies Act 2016. 

• MBRS 2.0 Phase 2 (Mar 1, 2025): Extended to filings under the Companies Act 1965, financial institutions regulated by Bank Negara Malaysia, and foreign companies. 

• MBRS 2.0 Phase 3 (Now Live – June 1, 2025):
  ➤ Mandatory digital filing of audited financial statements
  ➤ Online applications for rectifications or court orders related to audited accounts
  ➤ Requests for extension/exemption for filing financial statements 

With the launch of Phase 3, MBRS 2.0 fully transitions Malaysia’s corporate reporting into the digital era.  

Here’s what becomes mandatory starting June 1, 2025: 

• Audited Financial Statements and Reports- Companies must submit their audited accounts digitally under the Companies Act 2016. 

• Applications for Rectifications or Court Orders- Any rectification or legal order pertaining to previously submitted audited financials must now be filed online. 

• Extension or Exemption Requests- All applications for deadline extensions or exemptions for submitting financial statements must also be filed through MBRS 2.0. 

Companies and CoSecs must transition fully to the MBRS 2.0 digital environment. Manual, over-the-counter submissions are no longer accepted. 

To help ease the transition, SSM has introduced a temporary fee waiver: 

From June 1 to September 30, 2025, companies will not incur late submission fees for documents filed within three months of their due date, even if submitted after the standard 7-day grace period. 

This initiative aims to provide flexibility during the adjustment phase- but it is not a license to delay. The fee waiver is a short-term relief, not a long-term exemption. 

With MBRS 2.0 Phase 3 in motion, the responsibilities for company secretaries, CFOs, and compliance officers have grown significantly. Here’s what you need to focus on: 

1. Digital Readiness

Ensure your internal systems and reporting processes are compatible with XBRL and MBRS 2.0’s requirements. 

2. Accurate Mapping

Misalignment with SSM’s taxonomy can lead to rejected filings. Choose tools that assist with taxonomy validation and real-time error checks. 

3. Submission Discipline

Even with the waiver in place, establishing internal timelines ahead of the statutory deadlines ensures smoother workflows and less stress. 

4. Staff Training

Make sure your team is familiar with MBRS 2.0 and has hands-on experience with the filing platform before the next reporting cycle. 

To make this transition smooth, thousands of Malaysian enterprises and CoSecs are turning to IRIS Instant, a smart, purpose-built for MBRS compliance. 

IRIS Instant: Your MBRS Filing Partner 

• Built for MBRS 2.0– Fully aligned with SSM’s XBRL taxonomy and compliance guidelines. 

• End-to-End Filing Support– From data import and validation to taxonomy tagging and submission tracking, IRIS Instant does it all. 

• Error-Free Submissions– Intelligent validations help identify and fix issues before submitting to SSM. 

• Bulk Filing for Multiple Entities– Ideal for corporate groups, audit firms, and CoSecs managing multiple clients. 

• Secure Cloud Access– Work securely anytime, anywhere with encrypted cloud-based access. 

• Trusted Globally– Powered by IRIS Business Services Ltd, a listed RegTech pioneer with 20+ years of experience and clients in 50+ countries. 

What You Should Be Doing Now 

Let’s Lead the Digital Compliance Revolution 

MBRS 2.0 isn’t just a compliance mandate- it’s a transformation in how Malaysia conducts corporate reporting. It signals greater transparency, efficiency, and governance excellence in the business ecosystem. 

Embrace MBRS 2.0 Phase 3 now and position your organization as a leader in digital governance. With IRIS Instant, you’ll have more than a tool- you’ll have a trusted partner helping you through every stage of this transition. 

Not able to understand “Which companies are mandatory for XBRL filing in Malaysia?” Read our blog for clarity. 

Need Help Filing Your Audited Financials on MBRS 2.0? Get Started with IRIS Instant Today.