Checklist for Conversion of Private Company into LLP

As we all are aware of the fact that LLPs has fewer compliances and additional benefits as compared to the Private Limited Companies, an unregistered or a registered Partnership firm , hence in this Article I will make an effort to Explain the relevant provisions of Chapter X read with Schedule III of the LLP Act 2008 through a checklist for conversion of a Private Limited Company into LLP.

CHECKLIST FOR CONVERSION OF PRIVATE COMPANY INTO LLP

Step 1: File RUN (LLP) Along with the Board Resolution for Conversion.

Step 2: File E-Form Fillip along with E-form-18 with following attachments:

i. Documents w.r.t the registered office address of LLP.

ii. Subscriber’s Sheet including Consent of 100% Shareholders.

iii. Details of LLP/Company in which Partners are interested.

iv. Statement of Assets & Liability Certified as true & Correct by the Auditor.

v. Copy of Acknowledgment of Latest ITR.

Step 3: File E-Form-3 (i.e., LLP Agreement) within 30 days of Conversion.

Important Notes:

A. No e-Forms shall be pending for payment or processing in respect of the company.

B. No open (unsatisfied) charges shall be pending against the company.

C. At least one balance sheet and annual return should have been filed by the company after its incorporation.

D. Ensure that only existing shareholders becomes the partner in the LLP.

E. Consequent upon conversion, the LLP shall mention in every correspondence:

• • that it was converted from Private Limited into LLP; and
  • the Name & Registration No. of the Company. for a period of 12 months (starting from expiry of 14days after the conversion)