Rs. 5,999.00 Rs. 6,999.00

Annual Compliance for LLP

Escape hefty penalties with timely annual LLP compliance filing
Company Details
Act No specified Act
Registration Requirement No
Number of members Only 1
Separate Legal Entity No
Liability Protection Unlimited
Statutory Audit Not mandatory
Ownership Transferability No
Uninterrupted Existence No
Foreign Participation Not Allowed
Tax Rates Low
Statutory Compliances Less

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Tags: annual, compliance, for, llp, accounting

What is form DIR-3 KYC?

A Limited Liability Partnership enjoys a separate status. Thus, an organization needs to maintain its active status by regularly filing with the Ministry of Corporate Affairs (MCA). Annual compliance filing is mandatory for any LLP, whether having a business or not. Annual compliance for LLP requires filing two separate forms. One of which is for Annual Return, whereas another one is for Statement of Accounts and Solvency. The forms are filed for reporting the activities and financial data for each financial year in the upcoming year. The failure to fulfill LLP Annual Compliance requirements levies an additional fee of ₹ 100 each day of a delay till the actual date of filing. Hence, apart from the mandate, the heavy penalty compels the Designated Partners to fulfill the requirements.

Benefits of Annual Compliance

Higher Credibility

Legal compliance is a primary requirement for any business. The status of LLP annual filing is displayed at the Master Data of the LLP on MCA portal and the same can be accessed by any person. For loan approvals or any other similar requirements, compliance is a major criterion to measure the credibility of the organization.

Record of Financial Worth

The forms filed by the LLP are accessible by companies. Hence, while entering into contracts or major projects, the concerning party may also inspect the financial worth. LLP annual filing provides the record of its financial worth and capacity to an interested person or party.

Maintain Active Status and avoid penalties

In case of consecutive default in annual filing, the LLP can be declared as defunct or receive default status. Also, the partners can be declared as defaulters and may also be disqualified from their further appointment in LLP or company. Hence, LLP needs to file the return to maintain active status. Regular filing also saves the LLP from heavy additional fee and penalties.

Easy conversion and closure

For conversion of the LLP into any other organization, annual filing is very essential. The regular compliance records ease the conversion task. The same applies in case of closure of LLP. Even if the LLP was non-operational, the Registrar may ask to fulfill annual compliance, with additional LLP filing fee, if applicable.

Documents required for LLP Annual Filing

PAN Card & COI

PAN Card and Certificate of Incorporation of LLP

LLP Agreement

The LLP Agreement along with any supplementary agreement, if any

Financial Statements

Financial Statement of LLP duly signed by the Designated Partners

Digital Signature

DSC of all Designated Partners is required

Important Info

Due Dates for filing Annual Compliance for LLP

LLP Form 11 (Annual Return of LLP)

30th May

LLP Form 8 (Statement of Account & Solvency)

30th October

Process Flow

LLP Annual Filing in 3 Easy Steps

1. Follow Quick Process

  • Spare less than 10 minutes to fill our online questionnaire
  • Upload required documents
  • Make quick payment through our secured gateways

2. Experts at LW are here to help

  • Assigned Relationship Manager
  • Drafting required documents for filing LLP compliance
  • Preparation of Forms to be filed
  • Online Filing of Annual Return
  • Online Filing of Statement of Accounts & Solvency

3. Annual Compliance is done!

  • All it takes is 4 working days*

Process of LLP Compliances

Day 1 - Collection

  • Discussion and collection of basic Information
  • Provide Required Documents
  • Decide the due dates of filing

Day 2-3 - Preparation

  • Drafting necessary documents

Day 4 onwards - Filing

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

Explore LLP Annual Compliance Filing