Annual Compliances for Limited Liability Partnership (LLP)
Mandatory ROC Filings (Form 8 and Form 11) to Maintain Active Status
Annual compliances for Limited Liability Partnership (LLP)
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: Form 11 (Annual Return) and Form 8 (Statement of Accounts and Solvency).
The forms are filed for reporting the activities and financial data for each financial 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.
Pursuant to the provisions of the Limited Liability Partnership Act, 2008 (LLP Act, 2008), every Limited Liability Partnership (LLP) is required to file its Annual Return in LLP Form 11 (within 60 days from the end of the financial year, i.e., by May 30th) and its Statement of Accounts and Solvency (Form 8) (on or before 30th October).
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Key Annual Filing Forms and Due Dates
Form 8: Statement of Account & Solvency
- Purpose: Statement of Solvency and Statement of Accounts (Income & Expenditure).
- Due Date: On or before October 30th (within 30 days from the end of 6 months after the Financial Year end).
- Certification: Must be certified by Designated Partners and a professional (CA/CS/CWA).
Form 11: Annual Return
- Purpose: Reporting significant changes, details of partners, and compliance with the LLP Act.
- Due Date: On or before May 30th (within 60 days from the end of the Financial Year).
- Mandatory: Must be filed by all LLPs, irrespective of turnover or business activity.
Audit Applicability & Small LLP Definition
Statutory Audit (Mandatory If):
- Turnover exceeds Rs 40 Lakhs in any financial year, OR
- Partner Contribution exceeds Rs 25 Lakhs.
Definition of a "Small LLP":
- Contribution does not exceed Rs 25 Lakhs (or higher amount up to Rs 5 Cr), AND
- Turnover does not exceed Rs 40 Lakhs (or higher amount up to Rs 50 Cr) in the preceding FY.
MCA Fees filing Statement of Account & Solvency (Form 8)
Every form which is filed with ROC will have Govt fee. The Government fee is as follows (based on Contribution Amount):
| S. No | Contribution Amount | Fee Applicable (?) |
|---|---|---|
| 1 | Up to Rs 1,00,000 | 50 |
| 2 | More than Rs 1,00,000 up to Rs 5,00,000 | 100 |
| 3 | More than Rs 5,00,000 up to Rs 10,00,000 | 150 |
| 4 | More than Rs 10,00,000 up to Rs 25,00,000 | 200 |
| 5 | More than Rs 25,00,000 up to Rs 1,00,00,000 | 400 |
| 6 | More than Rs 1,00,00,000 | 600 |
Additional Fee (Penalty) for belated filing Statement of Account & Solvency (Form 8)
Belated filing of Statement of Account & Solvency (Form 8) attracts penalty. The late fee structure w.e.f 01st Apr 2022 is as follows:
| S. No | Period of Delay | Additional fee payable for Small LLPs | Additional fee payable for Other than Small LLPs |
|---|---|---|---|
| 1 | Up to 15 days | 1 times of normal filing fees | 1 times of normal filing fees |
| 2 | More than 15 days and up to 30 days | 2 times of normal filing fees | 4 times of normal filing fees |
| 3 | More than 30 days and up to 60 days | 4 times of normal filing fees | 8 times of normal filing fees |
| 4 | More than 60 days and up to 90 days | 6 times of normal filing fees | 12 times of normal filing fees |
| 5 | More than 90 days and up to 180 days | 10 times of normal filing fees | 20 times of normal filing fees |
| 6 | More than 180 days and up to 360 days | 15 times of normal filing fees | 30 times of normal filing fees |
| 7 | Beyond 360 days | 15 times of normal filing fees plus Rs 10 per day for every day of delay beyond 360 days | 30 times of normal filing fees plus Rs 20 per day for every day of delay beyond 360 days |
Simple & Transparent Pricing for Annual Compliance Llp
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Basic Plan
Every month payment option Available
- Turnover less than 40 lakhs
- Annual filing of LLP (Form 8 & 11)
- Resolution preparation
- GST filing including GST 9
- Income Tax filing
- Assistance & filing of audit report
- E-KYC of Designated Partners
- Book-Keeping and Accounting are not part of this package
Standard Plan
Every month payment option Available
- Turnover less than 80 lakhs
- Annual filing of LLP (Form 8 & 11)
- Resolution preparation
- GST filing including GST 9
- Income Tax filing
- TDS return filing
- Assistance & filing of audit report
- E-KYC of Designated Partners
- Book-Keeping and Accounting are not part of this package
Premium Plan
Every month payment option Available
- Turnover less than 2 Crore
- Annual filing of LLP (Form 8 & 11)
- Resolution preparation
- GST filing including GST 9
- Income Tax filing
- TDS return filing
- Assistance & filing of audit report
- E-KYC of Designated Partners
- Book-Keeping and Accounting are not part of this package
FAQ's on Annual Compliances For LLP
Your Questions Answered
Which are the two main annual forms to be filed by an LLP?
An LLP must file two mandatory forms with the Registrar of Companies (ROC) every year: Form 8 (Statement of Account & Solvency) and Form 11 (Annual Return).
What is the purpose and due date for filing Form 8 (Statement of Account)?
Form 8 contains the Statement of Assets & Liabilities and the Statement of Income & Expenditure. The due date for filing Form 8 is typically October 30th of the immediately succeeding financial year.
What is the purpose and due date for filing Form 11 (Annual Return)?
Form 11 contains details of the partners/designated partners, changes in their contribution, and details of the LLP’s previous annual filings. The due date for filing Form 11 is May 30th of the immediately succeeding financial year.
Is a Statutory Audit mandatory for every LLP?
A Statutory Audit is not mandatory for all LLPs. It becomes mandatory only if the annual turnover exceeds ₹40 Lakh OR the total contribution (capital) exceeds ₹25 Lakh in the preceding financial year.
Is it mandatory for an LLP to hold an Annual General Meeting (AGM)?
No. Unlike companies, an LLP is not required to hold an Annual General Meeting (AGM). Decisions are typically taken by the Designated Partners or through partner meetings as defined in the LLP Agreement.
What is the penalty for late filing of LLP forms?
Failure to file the mandatory forms (Form 8 and Form 11) results in a hefty additional fee of ₹100 per day of default for each form, without any maximum limit. Non-compliance can lead to prosecution of the designated partners.
Is ITR filing mandatory for an LLP?
Yes. All LLPs must compulsorily file their Income Tax Return using Form ITR-5 every year. The due date is October 31st if an audit is required (turnover exceeds ₹2 Crore or audit based on other criteria), or July 31st otherwise.
Is it mandatory for partners to file any KYC form annually?
No. Unlike the Director KYC (Form DIR-3 KYC) mandatory for company directors, there is currently no mandatory annual KYC filing requirement for partners or designated partners of an LLP.
