If you are running a Limited liability Partnership (LLP), then you have to comply with the rules and regulation of the Ministry of Corporate Affairs (MCA). MCA sets some regulations which have to be followed by companies and LLP. An LLP has to comply with laws and regulation of MCA. Form no. 11 and form no. 8 is mandatory for LLP. You have to file form no. 8 for the filing of Statement of account and solvency and form no.11 for Annual return. This article talks about Form no.11 and its procedure.
What is form 11?
Form no.11 is the Annual return of LLP. You have to file form no.11 for the filing of an annual return. This form contains details of LLP. You have to fill your details in it. You have to file this form every financial year. In the case of failure of submitting this form, you will be liable for a penalty. Even if there is no business activity, still you have to file this form. This is an e-form which has to be filed on the MCA portal. Every LLP is required to file an annual return within 60 days of closure of its financial year, after 60 days you have to pay fine for late filing. A fee of this form will be decided on your capital.
Procedure for Filing
A procedure for filing an annual return is straightforward, it is mentioned below
- You have to visit the official website of Ministry of Corporate Affairs
- Click on E filing
- Choose the form no.; you have to choose from 11 for annual return filing
- Then enter your LLP identification number (LLPIN), this is a unique number which is given to you after registration
- Click on the prefill button, and system will pre-fill your information like your LLP name, email id, address, phone number, etc.
- Select the business classification, and the system may fill this automatically
- The system will automatically show you the total number of partners; you have to fill the contribution of each partner
- If there is any penalty imposed on your LLP or on partners then you has mentioned it
- You have to mention all other information which is required
- After filling of form, you have to attach required documents
- After filling of form, click on an attachment
- After attachment, you can submit
- You can change details before submission, after submission of form you cannot change it, and you cannot file this again
Required Documents and Information
- Details of Annual return
- Limited Liability Partnership Identification Number (LLPIN)
- Name of the Limited liability partnership
- Registered office address of the LLP
- Business Classification of the LLP (Business, Profession, Service, Occupation, Others)
- Primary business activity of LLP
- Details of Designated Partners and Partners of the LLP
- Total obligation of contribution of partners of the LLP
- Total contribution received by all partners of the LLP
- Summary of Designated Partners and Partners
- Particulars of penalties imposed on the LLP, if any
- If there is any compounding offences?
- Details of LLP and or company in which Partner/Designated Partner are a Director/Partner (It is mandatory to attach this detail in case any Partner/Designated Partner is a partner in any LLP and/or Director in any company)
Conclusion for LLP Form 11
It is mandatory to comply with rules and regulation of Ministry of Corporate Affairs. You have to file this form 11 for your annual return. As you can see that you have to mention all personal and profession details of partners and LLP. If you are running a LLP then you should file your annual return because in case of failure you have to pay penalty on this.