Introduction: The Ministry of Corporate Affairs in India has issued General Circular No.-03/2024, offering significant relief to Limited Liability Partnerships (LLPs) regarding the filing of Form No. LLP BEN-2 and LLP Form No. 4D. This circular aims to facilitate compliance and transition to MCA-21 version-3 while ensuring the ease of reporting for LLPs.
1. Background: The circular is rooted in the prior notifications by the Ministry, including Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, and Limited Liability Partnership (Third Amendment) Rules, 2023. These regulations introduced forms LLP BEN-2 and LLP Form No. 4D, crucial for declarations under the Companies Act, 2013.
2. Extension of Deadline: In light of the transition from MCA-21 version-2 to version-3 and to encourage compliance among LLPs, the competent authority has decided to extend the deadline for filing Form LLP BEN-2 and LLP Form No. 4D. Notably, this extension comes with the significant benefit of waiving additional fees, easing the financial burden on LLPs.
3. Duration of Extension: LLPs now have until 01.07.2024 to submit the aforementioned forms without incurring any further additional fees. This extension provides a reasonable timeframe for LLPs to ensure compliance with the regulatory requirements, fostering a smoother transition and operational continuity.
Conclusion: General Circular No.-03/2024 signifies the government’s commitment to supporting businesses, particularly LLPs, during transitional phases and regulatory compliance procedures. By extending the deadline and waiving additional fees for filing Form LLP BEN-2 and LLP Form No. 4D, the Ministry of Corporate Affairs prioritizes ease of doing business and encourages adherence to legal obligations. This proactive approach underscores the government’s efforts to promote transparency, accountability, and efficiency within the corporate sector.
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General Circular No.-03/2024
F. No. 17/30/2018CLV
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
5th Floor, ‘A’ Wing Shastri Bhawan,
Dr. R.P. Road. New Delhi
Dated:7th May, 2024
To,
Al Regional Directors,
1 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 has 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. Keeping in view of transition of MCA-21 from version-2 to version-3 and to promote compliance on part of reporting Limited Liability Partnerships, and in continuation of General Circulars No.01/2024 dated 07.02.2024, it has been decided by the competent authority that LLPs may file Form LLP BEN-2 and LLP Form No. 4D, without payment of any further additional fees, up to 01.07.2024.
3. This issues with approval of the competent authority.
Dr. Amit Kumar
Deputy Director(Policy)
Copy to:- 1. E-Governance Section and web contents Officer to place this circular on the Ministry website.
2. Guard File.
