Social report: where and when to file it

The social report is one of the documents included in sustainability reporting, but not everyone knows where and when to file it.

It is a little-known type of report because it involves a specific group of parties, namely:

• Third Sector Entities (ETS) with revenues exceeding €1 million;
• volunteer centers;
• social enterprises and social cooperatives.

All these entities are required to report on how they deploy their resources and to communicate the value generated by implemented activities. The tool for meeting this legal obligation is to draw up a social report.

Where to file the social report

Where should the social report be filed? The answer to this question depends on the status of the party drafting the document.

Third Sector Entities are required to file statements with the National Single Register of the Third Sector, known as RUNTS. This register was set up in 2020 through the reform of the Third Sector with the intention of simplifying the establishment and mapping of these entities, as opposed to the previous confusing multitude of registers.

However, it is a different matter for social enterprises. In their case, the social report must be filed with the commercial register. The difference is justified by their special nature, since in this case they are private entities engaging in business activity in pursuit of general interests.

Another place where the report can be published is the organization’s website, or that of the association to which it belongs. In addition to being mandatory, publishing a social report online is a great way to demonstrate transparency in company activities and thus to nurture a trusting relationship with stakeholders.

Now that we have covered where the social report can be filed, we must now clarify when it needs to be filed.

Social report: when to file it

While the question of where to file the social report differs depending on the institution, the same distinction does not apply to when to do it. Both Third Sector Entities and social enterprises are required to file these types of reports by 30June each year with reference to the previous fiscal year.

In addition to the social report, social enterprises are also required to file financial statements as corporations. To simplify the whole process and related activities, there is now an option to submit both financial statements jointly.

Additionally, it should be remembered that the report must be approved by the administrative body and filed within thirty days from the date of approval, as stipulated by Article 2435 of the Civil Code.

The tasks of drafting and filing a social report should not be underestimated. This document is an important communication tool through which stakeholders are informed about activities performed during the year, results achieved and future prospects. It is a crucial tool for nurturing a strong, lasting relationship with the parties the company interacts with, as well as for raising its profile beyond its network.

In order to promote its visibility beyond its immediate scope, the best strategy is to translate the report into other languages, thereby making it accessible and transparent to all stakeholders.

Way2Global focuses on translating reports. We translate over 200 each year thanks to our native translators who specialize in financial and sustainability reporting. As a Società Benefit, we know how important it is for any company to report not only on economic aspects, but also on social and environmental matters, and we are proud to help promote a culture of sustainability reporting with our services.

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