Annual MCA Compliance for Companies/ LLPs
We have divided this post in two parts:
- Annual MCA Compliance for LLP
- Annual MCA Compliance for Companies
MCA Compliance For Limited Liability Partnerships (LLP):
- E Form 11 – Usually contains information about partners during the year including any change in partners – By 30th May following the close of the Financial Year.
- E Form 8 – Statement of Account and Solvency – Submission of financial details and declaration that the LLP is solvent/ not solvent. Form 8 will also contain the audit report if the turnover exceeds Rs. 40 lakhs or the capital exceeds Rs. 25 Lakhs.
- DIR-3 KYC – To complete the KYC of the Designated Partners’ DIN. It is basically a requirement under the Companies Act but is applicable even to Designated Partners under the LLP.
Entrecap Business Services have handled our LLP annual compliance including all Roc Forms and LLP income tax returns.
Prompt replies to all queries and and all forms are handled long before due dates. We were are extremely satisfied with their approach.We wish them the very best and all success in their endeavours.
Our LLP’s annual compliance, including all Roc Forms and income tax returns, has been handled by Entrecap Business Services. All queries are promptly answered, and all paperwork is completed far ahead of schedule. I was quite pleased with their attitude.
MCA Compliance For a Company:
- MSME-1: A Company must file MSME-1 twice a year – Information for April-Sep by 31 October and for Oct-Mar is to be filed by 30 April.
- DIR – 3 KYC – Each Directors has to complete individual KYC by 30 Sep. It has a heavy penalty of Rs. 5000.
- DPT-3 : Form for information on deposits – by 30 June after the year end.
- Form AOC-4: 30 days of the Annual General Meeting
- Form MGT-7: 60 days of the Annual General Meeting
Apart from this, Company has to file specific forms as per transactions. Some of the more common forms are:
- SH-7 (Alteration in capital)
- MGT-14 (recording of resolutions as per Section 117 of Companies Act)
- DIR-12 – Change in Directors
- INC-22 – Change in registered office
- PAS -3 – Allotment of securities
- LLP Form 3 – Change in LLP Deed
- LLP Form 4 – Change in partners
- Form 15 – Change in address of LLP
Companies/ LLPs have to file most forms within 30 days of the transaction. Further, the annual MCA Compliance forms have a late fee of Rs. 100 per day. Hence, the directors have to specifically monitor the same. Other MCA Forms have relatively lower late fees.
For entrepreneurs / businessmen – compliance should work in the background while they focus on operational and business expansion matters. Having said that, one thing is true for all businesses – ” Cost of compliance is always lesser than cost of non-compliance.” Hence, businessmen should have basic idea of MCA compliance requirements for their companies/ LLPs.
For first compliance of a Company after incorporation, read here.
For first compliance of an LLP after incorporation, read here.