General Motors Corp. will delay the release of its 2006 year-end and fourth-quarter financial results and says it will restate past earnings because of tax accounting errors that occurred before 2002.

GM, which was to announce the fourth-quarter figures Jan. 30, says its deferred tax liabilities were overstated. As a result, GM will be restating financials for 2002 through third-quarter 2006.

A significant impact on cash flow as a result of the restatements is not expected, but “retained earnings as of Dec. 31, 2001, and subsequent periods were understated by a range of $450 million to $600 million,” the auto maker says in a statement.

Accounting practices, which have come under greater scrutiny since the company delayed reporting first-quarter 2006 earnings, will be reviewed, GM says.

In addition, financing arm General Motors Acceptance Corp. (GMAC) continues to finalize its financial statements for 2006 and its balance sheet as of Nov. 30. That is when GM closed the sale of 51% equity in GMAC to a group of equity investors.

As a result, GM says GMAC is unable to provide financial information needed to complete the auto maker’s fourth-quarter financial results.

GM does not say when it will file its year-end figures, but promises an update the week of Feb. 5. The auto maker says it still plans to file its annual report by the March 1 due date.

GM also notes it expects to report record fourth-quarter revenue.