roc compliance for llp

Table of Contents

Limited Liability Partnerships (LLPs) in India are required to comply with various regulations outlined by the Ministry of Corporate Affairs (MCA) through the office of the Registrar of Companies (ROC). Here’s an overview of ROC compliance for LLPs:

1. Annual Compliance:

Annual Return (Form 11): File the Annual Return (Form 11) within 60 days of the close of the financial year. This form contains details about the partners and their contributions.

2. Statement of Account and Solvency (Form 8):

File the Statement of Account and Solvency (Form 8) within 30 days from the end of six months of the financial year. This form includes details about the financial position of the LLP.

3. Event-Based Compliance:

Changes in Partners or Designated Partners (Form 4): File Form 4 within 30 days in case of any changes in partners or designated partners.
Change in Registered Office (Form 15): File Form 15 within 30 days in case of any change in the registered office address.
LLP Agreement Amendments (Form 3): File Form 3 within 30 days for any changes in the LLP agreement.

4. Board Meetings:

While LLPs don’t hold board meetings, partners may have regular meetings to discuss business matters.

5. Audit Requirements:

LLPs are not required to undergo a statutory audit unless their annual turnover exceeds a specified threshold.

6. Income Tax Returns:

LLPs are required to file income tax returns annually. This should be done by the specified due date.

7. ROC Filings:

File various forms as required for specific events, such as changes in the LLP’s name, conversion into a company, etc.

8. DIN KYC:

Partners should ensure that their Designated Partner Identification Number (DPIN) KYC is updated annually.

9. GST Returns:

LLPs involved in business activities should ensure timely filing of Goods and Services Tax (GST) returns.

Penalties for Non-Compliance:

Non-compliance with ROC requirements may lead to penalties, fines, and legal consequences.
Designated Partners may face disqualification or other punitive actions.

Professional Assistance:

Many LLPs seek the assistance of professionals, such as company secretaries, chartered accountants, or legal advisors, to ensure accurate compliance with ROC requirements.

It’s crucial for LLPs to stay informed about changes in regulations and seek professional advice to ensure smooth ROC compliance. Rules and regulations may evolve, and compliance requirements may vary based on the specific circumstances of the LLP.