The One Person Company (OPC) Compliance Paradox: Decoding the Due Dates for AOC-4 and MGT-7A
The One Person Company (OPC) under the Companies Act, 2013, enjoys significant relaxations, most notably the exemption from holding a formal Annual General Meeting (AGM). However, this very exemption often creates confusion regarding the due dates for filing its annual forms: AOC-4 (Financial Statements) and MGT-7A (Abridged Annual Return).
Here’s a straightforward guide to understanding the OPC’s annual compliance deadlines and the crucial role of the “deemed” AGM date.
1. AGM: Exempted, but not Irrelevant
The core of the matter lies in Section 96(1) of the Companies Act, 2013, which explicitly exempts an OPC from the requirement to hold an AGM.
| Compliance Requirement | OPC Status |
| Holding an AGM (Section 96) | Not Applicable (Exempted) |
| Adoption of Financial Statements | Mandatory by the sole member (via a written resolution) |
2. Form AOC-4: The Strict Deadline
The due date for filing Form AOC-4 (for financial statements) is determined directly by a specific provision in Section 137(1) – The Third Proviso. This deadline is independent of the AGM.
| Particulars | Relevant Provision | Due Date Calculation | Latest Due Date (for FY ended March 31st) |
| AOC-4 Filing | 3rd Proviso to Section 137(1) | 180 days from the closure of the Financial Year. | September 27th |
Note: The OPC’s member must formally adopt the financial statements by a resolution before this or by this date for the filing to be valid.
3. Form MGT-7A: The “Deemed AGM” Date
While the OPC is exempt from an AGM, the filing requirement for its Annual Return (Form MGT-7A) is still linked to the standard AGM framework for non-OPC companies, which creates the “deemed AGM” concept.
| Particulars | Relevant Provision | Due Date Calculation | Latest Due Date (for FY ended March 31st) |
| MGT-7A Filing | Section 92(4) | 60 days from the date on which the AGM should have been held. | November 26th (i.e. within 60 days from September 27th) |
Summary for OPC Annual Filings:
- You do not hold an AGM. The financial statements are adopted by the sole member via a resolution entered into the minutes book.
- The date of this member’s resolution for adoption of accounts is the date you should enter in the relevant forms (like MGT-7A, which asks for the AGM date), and this date must be on or before September 27th (for a financial year ending on March 31st).
- In the e-form AOC-4 for OPC, there is generally a field to specify that it is an OPC and is exempt from holding an AGM (“N.A.” or “Not Applicable” for AGM). In Form MGT-7A, the date of the member’s resolution adopting the financial statements (latest being September 27th) is often used to comply with the 60-day deadline for MGT-7A (which then falls on November 26th).
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