The Ministry of Corporate Affairs in India has issued General Circular No. 01/2024, providing significant relief to Limited Liability Partnerships (LLPs) regarding the filing of certain forms. This circular, dated 07th February 2024, addresses the relaxation of additional fees and extends the last date for filing Form LLP BEN-2 and LLP Form No. 4D under the Limited Liability Partnership Act, 2008.
1. Background on the Circular: The circular stems from the Ministry’s notifications of the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, and the Limited Liability Partnership (Third Amendment) Rules, 2023. These rules introduced Form LLP BEN-2 and LLP Form No. 4D for reporting purposes related to significant beneficial owners and beneficial interest in contribution received by the LLP, respectively.
2. Transition to MCA-21 Version-3: The circular acknowledges the transition of MCA-21 from version-2 to version-3, emphasizing the need to promote compliance among reporting LLPs. This transition necessitates adjustments to filing procedures and timelines.
3. Extension of Filing Deadline: In light of the transition and to facilitate compliance, LLPs are granted an extension for filing Form LLP BEN-2 and LLP Form No. 4D without incurring additional fees. The deadline for such filings is extended up to 15th May 2024. Additionally, the forms will be made available in version-3 for filing purposes starting from 15th April 2024.
4. Conclusion: The circular issued by the Ministry of Corporate Affairs underscores the importance of compliance with reporting requirements by LLPs. By providing a relaxation in additional fees and extending the filing deadline, the Ministry aims to ease the transition to MCA-21 version-3 and promote adherence to regulatory norms. This measure signifies the government’s commitment to supporting businesses while maintaining regulatory integrity.
By ensuring timely compliance, LLPs can mitigate potential penalties and contribute to a more transparent and efficient corporate ecosystem.
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General Circular No. 01/2024
F.No. 17/30/2018-CLV
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
5th Floor, ‘A’ Wing Shastri Bhawan,
Dr. R.P. Road. New Delhi
Dated: 07th February, 2024
To,
The DGCoA
All Regional Directors
All Registrars of Companies.
All Stakeholders.
Subject: Relaxation of additional fees and extension of last date of filing of Form No. LLP BEN-2 and LLP Form No. 4D under the Limited Liability Partnership Act, 2008- regarding.
Sir,
The Ministry of Corporate Affairs has notified Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 vide G.S.R. No. 832(E) dated 09.11.2023 and prescribed E-form LLP BEN-2 to file Return to the Registrar in respect of declaration under section 90 of the Companies Act, 2013. Similarly, The Ministry of Corporate Affairs has notified Limited Liability Partnership (Third Amendment) Rules, 2023 vide G.S.R. No. 803(E) dated 27.10.2023 and prescribed E-form LLP Form no. 4D to file Return to the Registrar in respect of declaration of beneficial interest in contribution received by the LLP.
2. In view of transition of MCA-21 from version-2 to version-3 and to promote compliance on part of reporting Limited Liability Partnerships, it is informed that such LLPs may file Form LLP BEN-2 and LLP Form No. 4D, without payment of any additional fees, upto 15.05.2024. The two forms shall be made available in version-3 for filing purposes w.e.f 15.04.2024.
3. This issues with approval of the competent authority.
Yours faithfully,
(Atma Sah)
Joint Director (Policy)
Copy to:- 1. E-Governance Section and web contents Officer to place this circular on the Ministry website.
2. Guard File.
