Article explains Mandatory Annual Compliance for One Person Company under (OPC) Companies Act, 2013 in Tabular format stating Form or Return required to be filed, Section/Rules under which the same need to be filed and nature of Compliance.

Meaning of One Person Company:

This is the fundamental concept of a One Person Company. In fact, One Person Company is defined in the Companies Act as a Company which has only one member. A single shareholder holds 100 percent shareholding.

Important Note:

1. Only One person as Member.

2. Director may be minimum 1 maximum 15.

3. Less Compliance then other Companies.

4. No requirement of minimum share capital.

5. Letters ‘OPC’ to be suffixed with the name of OPCs to distinguish it from other companies

6. A One Person Company may conduct at least one meeting of the Board of Directors in each half of a calendar year and the gap between the two meetings shall not be less than ninety days.

7. The provisions of Section 98 and Sections 100 to 111 (both inclusive), relating to holding of general meetings, shall not apply to a One Person Company.

Annual Company Law compliance calendar for One Person Companies

ANNUAL COMPLIANCES FOR

ONE PERSON COMPANY:

S. No.   Section & Rules Particular of Compliance
1.  Receipt of MBP-1 184(1) Form

MBP- 1

Every Director of the Company in First Meeting of the Board of Director in each Financial Year shall disclose his interest in other entities.
    Every Director is required to submit with the Company a fresh MBP-1, whenever there is change in his interest from the earlier given MBP-1.
2.  Receipt of DIR- 8 164(2)

143(3)(g)

Form

DIR – 8

Every Director of the Company in each Financial Year will file with the Company disclosure of non-disqualification.
3.  E- Forms Filing Requirements Annual Form 92 E-form:

MGT-7

Annual Return: An OPC will file its Annual Return within 180 (one hundred eighty days) from the closure of the financial year.

Annual Return will be for the period 1stApril to 31st March.

4.  137 E-form:

AOC-4

Financial Statement: Company is required to file its Balance Sheet along with Statement of Profit and Loss Account, Directors Report and Auditors’ Report in this form within 180 (one hundred eighty days) from the closure of the financial year.
Attachment:

Balance Sheet, Statement of Profit& Loss Account, Directors Report, Auditors’ Report.

5.  Annual Form Section 73

Rule 16

E-form

DPT-3

Return of Deposit: Company is required to file this form every year on or before 30th June in respect of return of Deposit and Particulars not considered as Deposit as on 31st March.
6.  Annual Form Rule 12A DIR-3 KYC KYC of Directors: All the Directors of company shall file this form on or before 30th September every year for all the directors of the Company.
7.  Half Yearly Return Section 405 MSME-1 Delay in Payment to MSME Vendor: Company have to file this return half yearly in respect of pending payments to MSME vendors as at end of half year.

  • April to Sep  – 30th October
  • October to March – 30th April
8.  Directors’ Report 134 Directors Report shall be prepared by mentioning all the information required for OPC under Rule 8A of Section 134.
9.  Board Meetings 173 A One Person Company may conduct at least one meeting of the Board of Directors in each half of a calendar year and the gap between the two meetings shall not be less than ninety days.

(If a company hold only 2 (Two) Board Meetings in a Financial year then minimum gap between meetings should be 90 (Ninety) days. But if a company hold more then 2 (two) Board Meetings then gap may be less than 90 (Ninety) days

10.  Statutory Register 88 and other Company will maintain the following mandatory Registers:

  • Register of Director,
  • Registers of Director Shareholding,
  • Registers of Related Party transaction etc
11.  Appointment of Auditor 139 E-form

ADT-1

Auditor will be appointed for 5 (Five) years and form ADT-1 will be filed for 5-year appointment within 15 days of Annual General Meeting.
Above mentioned 11 (Eleven) Compliances are mandatory yearly compliances for the One Person Company. Except above 11 (Eleven), there may be event-based compliances for the One Person Company.

Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION

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