Easily create a Register Of Members through Carta.
A Register Of Members (ROM) is one of the most important statutory registers which a UK company must maintain. It contains details of shareholders and their holdings and it is a crucial piece of staying compliant. This feature replaced the Shareholder Register report for UK companies. Non-UK companies can still use the Shareholder Register.
Furthermore, this article will go over:
Creating a Register of Members For The First Time
1. Make sure to enable the feature by navigating over to Navigate to Settings > Settings and add-ons and check the Use company registers and filings on Carta box under Registers, Companies House filings and share certificates.
2. Navigate to Company registers > Share registers set-up > and click Get started.
3. Select the transactions to be published to the Register Of Members and click Continue.
4. Review the current and ceased members and click Continue.
5. Tick the box confirming the information has been reviewed and click Confirm and complete set-up.
| Please note, Carta will preserve the entry date for existing members created before the registers set-up. |
Entering New Transactions and Members
It is possible to add allotments, transfers, conversions, adjustments and cancellations using this workflow, but adding an allotment will be used in this article.
1. Navigate to Company registers > Members > Register of members.
2. Click More > Add allotment.
3. Click Register a new share issuance.
4. You will be directed to the issue shares workflow. Enter the required information and click Save draft.
5. The issuance will be saved as draft and you will be re-directed back to the Register of members tab. Navigate to the Pending transactions tab and click More > Publish transactions.
6. Select the transactions to be published and click Publish to register.
7. If this is the first time the member is being registered, enter the date of entry as a member for each individual and click Publish to register again.
| Please note, to make full use of the feature, it is recommended to add all existing registered transactions to the register. |