One Person Company (OPC) is a choice of Business entity for entrepreneurs who want to have full control over the business.

OPC is a type of Private Company as per Section 2(68) and Section 3(1) (c).

Rule 3 of the Companies (Incorporation) Rules 2014 say, only a natural person who is an Indian citizen and resident in India:-

(a) Shall be eligible to incorporate a One Person Company;

(b) Shall be a nominee for the sole member of a One Person Company.

Resident in India means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one calendar year.

In this Article we will be explain the Annual Compliance required for a One Person Company (OPC)

Annual Compliance for One Person Company (OPC)

Section & Rules Forms Particulars
164(2), 143(3)(g) DIR-8 Disclosure of non-disqualification in each financial year by every director.
184(1) MBP-1 By every Director at each financial year for disclosure of director interest in other entity in First Meeting of the Board of Director

Fresh MBP-1 is required to be submit whenever there is change in director interest from the earlier.

Rule 12A DIR-3 By all the Directors of the company shall file DIR-3 on or before 30th September every year.
Section 405 MSME-1 Company to file MSME-1, 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

Section 73,Rule 16 DPT-3 To be filed every year on or before 30 June in respect of return of Deposit and particulars not considered Deposits as on 31st March.
Section 139 ADT-1 Auditor will be appointed for 5 years in form ADT-1 within 15days of Annual General Meeting.
Section 92 MGT-7 OPC fill its annual return within 180 days from the closure of the financial year.
Section 137 AOC-4 Company is required to file its Balance sheet along with Statement of Profit and Loss Account, Director Report and Auditor report within 180 days from the closure of financial year.

Other Compliance:

1. Board Meeting (Section 173): At least one Board of Director meeting to be held in each half of calendar year and the gap between the two meetings shall not be less than 90 days.

2. Statutory Register(Section 88 and other): Company will maintain mandatory registers:

a. Director Register

b. Director Shareholding Register

c. Related Party Transaction Register

3. Director’s Report: Director Report shall be prepared mentioning all the information under Rule 8A of Section 134.

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.

Author- CS Aakansha Negi and can be contacted at [email protected]

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October 2021