Everything a body corporate or managing agent must have on file

A scheme that can produce eight things on request is in good shape: CSOS registration, the last annual return, signed annual financial statements, AGM minutes, the maintenance repair and replacement plan, proof of CSOS levy payments, insurance and the managing agent's current Fidelity Fund Certificate.

Reviewed by TefCo Compliance Research — last verified 7 September 2026.

In short

The annual return needs approved financial statements and AGM minutes behind it.
A managing agent handling scheme money is a property practitioner and needs a trust account and an annual audit.
The reserve fund only makes sense against a written maintenance, repair and replacement plan.

The scheme's own file

CSOS registration and scheme registration number.
Annual return filed within four months of financial year end (CSOS Act 9 of 2011, section 59).
Annual financial statements, approved at the AGM and signed off by the trustees.
AGM notice, attendance register, proxies and minutes.
Approved budget for the administrative fund and the reserve fund.
Maintenance, repair and replacement plan (Prescribed Management Rule 24).
Proof of monthly CSOS levy payments.
Scheme insurance policy and replacement value assessment.
Conduct rules and management rules as filed, plus any CSOS-approved amendments.
Trustee appointment records and disclosure of interests.

The managing agent's file

Current Fidelity Fund Certificate and registration certificate from PPRA.
Separate trust account or accounts (Property Practitioners Act 22 of 2019, section 54).
Annual audit report on the trust accounting records by a registered auditor, or a PPRA exemption letter.
Annual financial statements for the practice.
Written managing agent agreement with each scheme.
Records showing scheme funds are not commingled with business funds.
POPIA processing records for owner and resident personal information.

PPRA has restated that debit orders, stop orders and overdrafts may not run on a property practitioner trust account. If your scheme collections are structured that way, that is the first thing to fix.

What an auditor or CSOS actually asks for first

In practice the first three requests are the same every time: the last annual return acknowledgement, the signed financial statements, and proof that CSOS levies were paid over monthly. If those three exist and reconcile, the rest of the review is usually quick.

Frequently asked

Does a small scheme of under ten units still register with CSOS?

Yes. Registration and the levy apply to community schemes generally; there is no size exemption, though the levy is calculated per unit off each unit's monthly levy.

Who signs the annual financial statements?

The trustees. CSOS expects statements approved at the AGM and signed on behalf of the body corporate before they are attached to the annual return.

Does a managing agent need its own audit if the scheme is audited?

Yes — they are different audits. The scheme's financial statements are one thing; the property practitioner's trust accounting records are audited separately under the Property Practitioners Act 22 of 2019, section 54.

Sources

TefCo Corporate Compliance (Pty) Ltd is a compliance management platform, not a legal, tax or advisory firm. This guide is general information, not advice. Fees, dates and thresholds change — confirm current figures with the regulator before you rely on them.