Introduction

After registering your Limited Liability Partnership or LLP Registration, your work is far from done. Every year, you need to maintain compliance. This LLP Registration Compliance Checklist is here to ensure your Limited Liability Partnerships (LLPs) stay on point, run efficiently, and avoid penalties. In this post, Lawfinity explains ROC filings, annual returns, and tax filings, and describes how Lawfinity assists you in fulfilling your compliance responsibilities.

This is a clear reminder to all that LLP Registration is just the beginning and that ongoing compliance is key to ensuring your LLP remains legally healthy and maintain your credibility.

ROC FILINGS

After your LLP Registration, your LLP is required to interact with the Registrar of Companies or ROC on a periodic basis to perform mandatory filings. These filings with ROC serve as the basis for your obligations concerning LLP Annual Compliance.

Here are the documents you need to file with the ROC:

Annual Return - Form 11: Each LLP is required to submit Form 11 within 60 days after the close of the financial year (30 May). It includes information about the partners, capital contributions, and any changes during the year.

Even if you have no changes to report, the filing requirement is still necessary for Annual Compliance of the LLP.

Statement of Accounts & Solvency - Form 8

Every LLP is required to compile their financial statements and declare solvency which includes the assets, liabilities, income, and expenditures. This is required for Form 8 to be completed within 30 days after 6 months of the financial year, (30 October).

The solvency declaration is where the responsible partners attest that the LLP is capable of paying its debts.

Event-Based ROC Filings

There are other documents that need to be filed with ROC immediately after an event including:

Changes in partners or designated partners - admission, retirement, or death etc - submit Form 4 within 30 days of the change.
Name change of LLP - submit Form 5 within 30 days.
Change of registered address - submit Form 15 within 30 days.

Certification Requirements

If the LLP gets more than a capital contribution of ₹50 Lakhs or a turnover of ₹5 Crores, we require a practicing CA, CS, or Cost Accountant to certify Form 11 or Form 8.

Digital Signatures & DSC

All ROC filings require digital signatures (DSC) of designated partners or authorized persons.

Timely and accurate filings with the ROC are essential to your LLP Annual Compliance.

ANNUAL RETURNS

When it comes to LLPs, the term “annual returns” primarily focuses on Form 11. For your compliance checklist, let's discuss it in detail here.

What is Form 11?

This is your annual return filed with the ROC. It summarizes the details of the partners, capital contributions, profits, profit sharing, and any changes.

Due Date

It should be filed within 60 days after the end of the financial year (i.e., by 30 May each year according to current practice).

Needed Information

Partners’ and designated partners’ names and addresses
The capital each partner contributed and any changes during the year
Changes in the partners or designated partners
The type of business and the main activities carried out

When Certification is Needed

Certification is required by a professional when the contributions are over ₹50 lakh or the turnover is above ₹5 crore, or other limits specified.

Penalties for Late Filing

Late filing of Form 11 will incur a fine, for example, ₹100 for each day overdue until the situation is resolved.

Mandatory Even if No Activity

Form 11 still needs to be filed even if the LLP did not have any business activity or transactions.

Again, annual returns are non-negotiable in your LLP Annual Compliance checklist.

TAX FILING

In addition to the ROC obligations, the tax authorities require their own compliance obligations. These will also be added to your compliance checklist for the LLP.

Income Tax Return (ITR): The LLP files ITR-5 for their income tax return.
Due dates are determined based upon whether an audit is required:
If an audit is not required: generally by 31st July of Assessment Year
If an audit is required: later date, generally by 30th September, or other prescribed dates
Even with nil profits, losses or balances, the return must still be filed.

Audit Under Income Tax (if applicable)

If your LLP’s turnover is > ₹40 lakh, or total capital contribution > ₹25 lakh, then a tax audit is triggered under Section 44AB.
An audit report must be prepared in certain formats (e.g. Form 3CA/3CD)
Audited accounts will also be incorporated into your ROC filings (Form 8) as required.

Other Tax & Compliance Filings (if applicable)

TDS Compliance: If your LLP deducts TDS (e.g. on payments to vendors, salaries, etc.), then TDS returns must also be filed quarterly (e.g. Form 26Q, etc.).
GST Returns: If the LLP is registered under GST, then periodic GSTR‑1, GSTR‑3B, etc. must also be filed.
Other statutory taxes, i.e. professional tax, state levies, etc.
Aligned tax filings are an integral part of LLP Annual Compliance process, along with ROC filings.

LAWFINITY COMPLIANCE SUPPORT

Lawfinity knows how tough it can be to manage compliance after your LLP Registration. With constantly changing rules, compliance in your Limited Liability Partnership can become cumbersome. That is why we have compliance support to relieve your worries and protect the good standing of your LLP.

This is how we help:

1. Compliance Audit & Gap Analysis: After your LLP Registration, we assess your LLP (partners, documents, DSCs) and determine any possible future compliance obligations for the forthcoming ROC and tax authorities.

2. Timely Filings & Reminders: We set a schedule for all the ROC forms (Form 11, Form 8, etc.), tax returns, and event-based filings. We send reminders well in advance for you to never miss a deadline.

3. Document Preparation & Certification: Lawfinity drafts, reviews, and prepares all required forms, and secures the digital signatures, and if certification is required, Lawfinity will arrange for a professional certification of the CA/CS.

4. Tax & Audit Coordination: We coordinate with the auditors for audits when the thresholds are met, we weave the audit output into ROC filings, and we make sure tax returns are compliant.

5. Event-Based Compliance: We manage the Form 4, Form 5, and Form 15 filings when your LLP undergoes changes (partner changes, name change, address change) and make sure everything is done within the required time.

6. Penalty Mitigation & Rectification: When there are defaults or late submissions, we also help in penalties and rectification by paying, filing belated forms, and restoring compliance status.

7. Regulatory Updates & Advisory: Lawfinity monitors amendments, rules, and notifications (e.g. changes in thresholds, new rules for certifications, digital norms, etc) and updates compliance strategies for your LLP accordingly.

With Lawfinity’s compliance support, your focus stays on business while we manage the detailed LLP Annual Compliance tasks.