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LLP ROC Filing (Complete Process Details)

Are you someone who owns an LLP firm? Do you know the annual filing process under ROC norms? Don’t worry. You have come to the right place. Let’s learn more about your LLP firm and ROC filing in the below article. Read on to learn more.

The combination of a limited liability company and a partnership company is known as an LLP, or Limited Liability Partnership. A minimum of two partners are required to incorporate an LLP, and there is no upper limit.

If you own a Limited Liability Partnership firm, you must file the annual returns within 60 days from the end of the financial year. Also, you should submit your account statement and solvency within 30 days from the end of six months of the closure of the financial year. You can do the LLP ROC filing within the stipulated time to avoid penalties.

The financial year for the LLPs starts from April 1st to March 31st. The annual return for the LLPs is due on May 30th, while the statement of accounts and solvency is due on October 30th of each financial year.

Besides the MCA annual return filing, you must also mandatorily file the income tax return. Therefore, LLP ROC filing becomes the most important process for the smooth running of your LLP.

Read further to learn more about LLP ROC filing.

What Is ROC Filing for LLP?

Similar to other companies, you should file your annual returns for LLP too. Your statement of account and solvency for LLP must be filed with ROC to maintain the compliance of your firm. You must file two forms with ROC to maintain the credibility of your LLP. They are:

  • Form 8 ( Statement of Accounts and Solvency)
  • Form 11 (Statement of Annual Return)

Form 8 (Statement of Accounts and Solvency)

If you own an LLP, you should file Form 8 with ROC within 30 days from the end of the six months of the financial year (October 30th of the next financial year). Form 8 has details about the assets, liabilities, and profit & loss generated by your LLP firm during the year. 

However, you must provide this complete report to the ROC. The designated partners and practicing professionals of your LLP firm must sign this form. 

Form 11 (Statement of Annual Return)

You must file Form 11 with ROC by May 30th of the next financial year. Form 11 has a summary of management affairs, and details of partners and their contributions. The designated partners and practicing professionals of your LLP firm must sign this form.

These are the two forms your LLP must file with ROC annually. These forms consist of every detail about your Limited Liability Partnership firm that proves the credibility and existence of your firm to the Register of Companies. 

So, you might get more clarity about the LLP ROC filing and the forms required for that. But is filing ROC for LLP mandatory? What if you fail to file a ROC for your LOP? Let’s get an answer to this. Read more.

Is ROC Filing Mandatory for LLP?

The simple answer to this is yes. ROC filing is mandatory for your LLP. As you register your LLP with the Ministry of Corporate Affairs (MCA), you must comply with the rules and regulations set by the Registrar of Companies.

ROC requires you to submit all the financial details about your firm to maintain good books of account. This filing also helps to establish the credibility of your firm with the government, so that many investors and shareholders can make informed decisions about investing in your firm.

Are you familiar with the process of filing a ROC return for your LLP? Come, let’s have a look.

How Do I File an Annual Return for an LLP?

The annual filing of your LLP to ROC is an easy process, though. Follow the steps below to file an annual return for your LLP.

 1.Gather all the necessary documents, such as 

  • Limited Liability Partnership Agreement
  • Certificate of Incorporation
  • Financial Statements of your LLP
  • Digital Signature Certificate of all your partners

All these documents must have the signatures of your designated partners.

Have all these documents handy.

2. Draft the necessary documents with the signatures of the partners, along with the annual compliance forms.

3. Make e-forms along with the above forms and verify them with experts.

4.Upload all the forms to the Ministry of Corporate Affairs portal.

5.Challan and status of your form get generated online. You can verify the status periodically and confirm that compliance has been made.

Thus, you complete the filing of your returns online. The legal team has a group of expert CA, Advocates etc., who verify your forms and confirm the compliance of your filing. So now you’ve filed your ROC LLP filing, and do you know when the last date is for filing your LLP form?

What Is the Last Date for LLP Form 8 for FY 2022-23?

You must file form 8 and form 11 to ROC for your LLP firm. It is advisable to file your form within the stipulated time to avoid penalties. Form 8 consists of a statement of your accounts and solvency. 

October 30 of each financial year is the due date for filing Form 8 ROC. If you fail to file the ROC form within the time limit, you are liable for the penalty. 

The penalty is Rs.50 if your LLP Form 8 contribution is up to Rs.1 Lakh. It is Rs.100 for contributions up to Rs.1 lakh to Rs. 5 Lakhs. The penalty is Rs.150 for contributions of more than 5 Lakhs up to 10 Lakhs. If it is above 10 lakhs, the penalty is Rs.200.

To avoid this penalty, you must file a ROC filing by October 30 of every financial year.

FAQ: LLP ROC Filing

What forms are to be filed for LLP with ROC?

If you own an LLP, you must file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually with ROC.

What are Form 3 and Form 4 of LLP?

Form 3 and Form 4 denote the changes made in your partnership firm. The LLP Act of 2008 mandates that you should submit Form 4 and Form 3 if you make any changes to your LLP’s constitution. 

Form 3 provides data about your LLP agreement in the case of a new LLP or about amendments to your LLP agreement in the case of a current LLP.

Form 4 is for each appointment, termination, and change in a designated partner’s name, address, or designation of your firm. 

These are the purposes of Form 3 and Form 4 of LLP. And you should submit these forms mandatorily.

Is ROC filing mandatory for LLP?

Yes, ROC filing is mandatory for your LLP. As you register your firm with the Ministry of Corporate Affairs, you must abide by the rules of the government. And, thus, ROC filing is the most important process, and you cannot skip it. If you fail to file a ROC, you are liable for a penalty.

Bottomline

 As you see from the above article, if you own a Limited Liable Partnership you should file your annual returns with ROC. Your filing must have all the details about your firm, including returns, annual financial statements, accounts, etc. Also, you must file this ROC within the due date to avoid penalties. 

Hopefully, you are familiar with the importance of LLP ROC filing. Still have queries? Don’t worry. We are here to help you any time. Feel free to contact us.

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