Within the project implementation reporting regime (general framework in topic FDI-LC-2071), the quarterly and annual reports are two independent obligations with different forms, data periods and deadlines. The most common FDI mistake is assuming the annual report “covers” all four quarters and filing once in March — a misunderstanding paid for with four simultaneous violations. This article distinguishes the two reporting periods clearly.
How do the quarterly and annual reports differ?
Four core differences. (1) Data period: the quarterly report (Form I.3.1 under Circular 55/2026/TT-BTC) reflects one quarter’s figures plus cumulative amounts from the year’s start and from project inception; the annual report (Form I.3.2) reflects the entire reporting year — it is not an enlarged Q4 report, but the year’s summary on finalised annual figures. (2) Depth of content: the quarterly report carries the core operating indicators — implemented investment capital, net revenue, exports — imports, headcount, taxes and budget payments, land/water use; the annual report keeps all of those and adds summary indicators: profit, employee income, research and development (R&D) costs, environmental treatment and the origin of technology used — indicators that only make sense over a full year. (3) Deadlines: quarterly before the 10th of the first month of the next quarter; annual before 31 March of the next year — two independent dates, and the annual date does not “swallow” Q4 (Q4 is still due before 10 January). (4) Management purpose: quarterly reports serve progress monitoring and early detection of stalled projects; annual reports serve year-end summary, statistics and input into investment monitoring and evaluation — so annual figures are reconciled more tightly against the year’s financial statements and tax data.
Which FDI projects must file quarterly reports?
The principle: every investor and economic organisation implementing an investment project in Vietnam managed under an Investment Registration Certificate or an investment policy approval is within the periodic reporting regime for both quarters and years — the regime does not distinguish by capital size, has no exemption threshold for small projects, and does not exclude projects under construction not yet operating (operating indicators are reported as zero/not arising, while implemented capital and progress must still be reported). A suspended project with proper notification remains within the regime during suspension (see topic FDI-LC-2076). Where a project operates across multiple provinces, the organisation reports to the investment registration authority managing the project at the registered focal point — it does not split reports by province unless the authority requires it. The most effective compliance practice is one unified reporting calendar: the 10th of January, April, July and October for quarterly periods and 31 March for the annual period, sourced from a single accounting data set so the two period types never contradict each other — Q4 and the annual report use the same annual figures presented in two different forms at different depths, so any difference between them must be explainable by the closing date, not by “re-estimation”.
Can quarterly reports be merged into the annual report?
No. Three reasons suffice: (1) different and earlier deadlines — quarterly reports fall due on the 10th of the next quarter’s first month, months before the annual deadline, so by March of the following year all four quarters of the prior year are long overdue if unfiled; (2) different forms and intake periods — the system receives each period on its own form (I.3.1 for quarters, I.3.2 for the year), with no combined filing mechanism; (3) sanctions attach per act — each unfiled or late period is a separate breach of the reporting regime under Article 15 of Decree 122/2021/ND-CP (the VND 30–50 million band for organisations for investment activity reports), so “saving them up for one filing” means accumulating violations by the number of missed periods. The correct handling when several periods have been missed: file all missing periods immediately in chronological order, keep the system confirmation for each period, and be ready to explain when the registration authority reviews — voluntary late filing before detection is weighed far more favourably than waiting to be recorded.
Frequently asked questions
How do quarterly and annual project reports differ?
Quarterly (I.3.1): one quarter’s figures, core operating indicators, due the 10th of the next quarter’s first month, for progress monitoring. Annual (I.3.2): full-year summary figures, adding profit, employee income, R&D, environment and technology origin, due 31 March, for summary and monitoring/evaluation.
Which FDI projects must file quarterly reports?
Every project managed under an Investment Registration Certificate or policy approval — regardless of scale, with no exemption threshold, including projects under construction (operating indicators zero, implemented capital still reported) and duly notified suspended projects.
What are the quarterly and annual deadlines?
Quarterly: before the 10th of the first month of the next quarter (10/4, 10/7, 10/10 and 10/1 for Q4). Annual: before 31 March of the following year. The annual date does not replace the Q4 date.
Can quarterly reports be combined into the annual report?
No: quarterly deadlines fall earlier, forms and intake periods are separate (I.3.1/I.3.2), and sanctions attach per period under Article 15 of Decree 122/2021/ND-CP. Any missed period must be filed supplementarily at once, in chronological order.
This article has been quality-reviewed by the FLAW AI Legal Council
