Reviewed 3 October 2026

Form B checklist: the records to prepare before you file

Short answer

Form B is the income tax return for resident individuals who carry on a business, such as sole proprietors. Before filing, prepare a full year of income records, expense records with receipts, bank statements and stock values. It is due 30 June for the previous year of assessment, with an e-Filing grace period to 15 July.

Who files Form B and when

Form B (filed online as e-B) is the return for resident individuals who carry on a business. If you run a sole proprietorship, this is usually your form. Partnerships file Form P instead, with the same 30 June date.

Form B is due on 30 June each year for the previous year of assessment. For example, the return for year of assessment 2025 is due by 30 June 2026. If you file through e-Filing, there is a 15-day grace period to 15 July. A return filed on 16 July is treated as late from 1 July, and a penalty may be imposed under section 112(3) of the Income Tax Act 1967.

You file through LHDN's MyTax portal. Dates are set in LHDN's filing programme each year, so check the programme for the year you are filing.

Income records checklist

Your accountant needs to see all the money that came into the business during the year, and the proof behind it.

If business money landed in a personal account, mark those lines on the statement so your accountant can separate them.

Copies of every invoice and receipt you issued to customers.
A sales summary by month, including cash and counter sales.
Bank statements for every account that received business money, for all 12 months.
Pay-in slips for cash you deposited.
E-wallet and payment platform statements, if customers paid you that way.
A list of invoices still unpaid at year end, so nothing is missed or counted twice.

Expense records checklist

Expenses need the same care. A cost without a receipt is hard for your accountant to use.

Keep the originals. LHDN Public Ruling 5/2000 says to keep the originals of invoices and receipts. It lists invoices, bank statements, pay-in slips, cheque butts, receipts for payments, payroll records and copies of receipts issued as supporting documents.

Original receipts and supplier invoices for every business purchase.
A list of expenses by category and month, such as stock, rent, utilities, transport and fees.
Payroll records, if you paid staff or helpers.
Cheque butts and transfer records for payments you made.
Details of big purchases such as equipment or a vehicle, with the date and amount.
Rental, loan and hire-purchase agreements linked to the business.

Stock and the year-end picture

If you sell goods, count and value your stock at the end of the period. Public Ruling 5/2000 says trading stock should be valued at the end of the period, so a dated stock count belongs with your records.

It also helps to prepare a short year-end summary for your accountant:

For a small business with gross takings of up to RM150,000 from goods or RM100,000 from services, the ruling allows a simpler cash book recording bank entries, cash receipts and cash payments. Your accountant can tell you whether that fits your business.

Total sales and total expenses for the year, from your own records.
Closing stock count and value, if you hold stock.
Money you took out of the business for yourself.
Money you put into the business from personal savings.
Notes on anything unusual, such as a large one-off sale or a refund.

What to hand your accountant

A neat handover saves a lot of back-and-forth messages. Aim to send everything in one go, well before the deadline rather than in the last few days.

Records must be kept for 7 years from the end of the year they relate to, even after the return is filed. Keep everything safe once your accountant hands it back.

Your income and expense records for the full year, in Bahasa Malaysia or English.
All 12 months of bank statements for each account used for the business.
Your monthly receipt files or envelopes.
Your year-end summary and stock count.
Last year's return, if you have a copy, so your accountant can compare.

e-Invoice and Form B are separate questions

Since 1 September 2026, taxpayers with annual turnover below RM3 million are exempt from e-Invoice under LHDN's e-Invoice Guideline (version 4.8). The exemption does not apply if a non-individual shareholder, holding company, related company or joint venture of the business has turnover of RM3 million or more.

Being exempt from e-Invoice does not remove your Form B filing or your duty to keep records. Every business still needs sufficient records, kept for 7 years.

This guide is general information, not tax advice. For your own situation, check with your accountant or LHDN.

What NiagaX does and does not do

NiagaX does

Keeps sales, expenses and invoices in one place through the year, with expenses on Basic and above.
Numbers each invoice and lists it by customer, so your income list is easier to check.
Shows which invoices are still unpaid, which helps with your year-end list.
Gives you a monthly CSV pack of invoices and transactions to hand to your accountant.

NiagaX does not

NiagaX does not file Form B or submit anything to LHDN for you.
It does not submit e-Invoices to LHDN MyInvois.
It does not replace your original paper receipts. Keep them in your own files.
It is not a replacement for an accountant or for tax advice.

Questions owners ask

When is Form B due?

By 30 June each year for the previous year of assessment. For example, the return for YA2025 is due by 30 June 2026. e-Filing has a grace period to 15 July.

What happens if I file after 15 July?

A return filed through e-Filing on 16 July is treated as late from 1 July, and a penalty may be imposed under section 112(3) of the Income Tax Act 1967. Check LHDN's filing programme for the current year.

Is Form B the same as Form P?

No. Form B is for resident individuals who carry on a business. Partnerships file Form P. Both are due on 30 June.

How long do I keep records for Form B after filing?

Seven years from the end of the year the income relates to, under section 82 of the Income Tax Act 1967. Filing the return does not end that duty.

Does NiagaX file Form B for me?

No. NiagaX keeps your day-to-day records and gives you a monthly CSV pack for your accountant. You or your accountant file the return through MyTax.

Official sources

Keep these records in one place

Start 30-day Solo free

No card needed. After 30 days, Solo is RM79/month, or switch to Free.

Keep going

For your type of business: Invoice app for freelancers in Malaysia
The NiagaX module for this: Finance module
Related guides: How long must Malaysian businesses keep records?; How to track business expenses: a simple system for small businesses; e-Invoice exemption for small businesses, explained

This guide is general information, not tax or legal advice. Rules change, so check the official LHDN source or ask your accountant before you act on it.