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Annual MCA Compliance for Companies/ LLPs

We have divided this post in two parts:

  1. Annual MCA Compliance for LLP
  2. Annual MCA Compliance for Companies
MCA Compliance For Limited Liability Partnerships (LLP):
  1. 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.
  2. 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.
  3. 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.
MCA Compliance For a Company:
  1. 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.
  2. DIR – 3 KYC – Each Directors has to complete individual KYC by 30 Sep. It has a heavy penalty of Rs. 5000.
  3. DPT-3 : Form for information on deposits – by 30 June after the year end.
  4. Form AOC-4: 30 days of the Annual General Meeting
  5. 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:

  1. SH-7 (Alteration in capital)
  2. MGT-14 (recording of resolutions as per Section 117 of Companies Act)
  3. DIR-12 – Change in Directors
  4. INC-22 – Change in registered office
  5. PAS -3 – Allotment of securities
  6. LLP Form 3 – Change in LLP Deed
  7. LLP Form 4 – Change in partners
  8. 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.

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