Form-11 : Annual Return of LLP

Every Limited Liability Partnership registered under the Limited Liability Act, 2008 has to make certain compliances. One of such compliance is the filing of Form 11 with Ministry of Corporate Affairs. Every financial year, an LLP has to file this Form 11 online on the MCA Portal.

What is Form 11?

Form 11 is an annual return that is to be filed by an LLP every year irrespective of the business activity, turnover, and profit or loss. Thus every LLP must file Form 11 with MCA even if the LLP did not have any operations or business activity in the previous year. This form can be easily downloaded from the MCA Portal.

Due Date to file Form 11

Every LLP should file Form 11 before completion of 60 days from the end of the financial year. As the financial year for LLPs ends on 31st March, Form 11 should be filed before 30th May.

Due to the COVID outbreak, due date to file Form 11 by LLP is extended to 30th September 2020.

Penalty for non-compliance

As stated, compliance with respect to the filing of Form 11 by every LLP is a mandatory requirement. If any LLP fails to file Form 11 with the MCA Portal, a penalty of Rs 100 per day shall be imposed on an LLP until the date of filing Form 11 with MCA.

What Information is to be declared?

Providing information in Form 11 is very easy, where the option of ‘Pre-fill’ has been provided. Where the LLP Identification Number is filled and the Pre-fill option is selected, maximum information is auto-filled.

Form 11 required the following information to be submitted by an LLP

a. LLP Identification Number

b. Name of the LLP

c. Address of registered office of LLP

d. Classification of Business by LLP (Business, Service, Profession, Occupation, Other)

e. Principal business activity of the LLP

f. Total number of partners and designated partners

g. Total obligation of the contribution of partners

h. Total contribution received by all partners (Total contribution received should match with Form 8 that is to be filed by an LLP)

i. Details of individual partners, viz., Name, Address, date of appointment as a partner, date of cessation if applicable, individual obligation of contribution and contribution received, Nationality, number of LLPs in which such person is a partner, and number of company in which such person is a director. (These details are to be provided for every partner of the LLP)

j. Details of a body corporate, if any, as partners

k. Particulars of penalties imposed, if any, on the LLP, with details of offence.

l. If the turnover of the LLP exceeds Rs 5 crores

What Documents are to be submitted?

a. Along with Form 11, document declaring details of the company or LLP in which partner of the LLP is a director/partner.

b. Any other document can be attached for the purpose of submitting any information relating to Form 11.

Who can sign Form 11?

As filing of Form 11 is an online process, it has to be signed through the digital signature of any two designated partners of the LLP. Such a designated partner will also have to certify the information provided in Form 11 before submission.

If the obligation of the contribution of partners exceeds Rs 50 Lakhs or the turnover of the LLP exceeds Rs 5 crores, it is mandatory that Form 11 is to be certified and signed by a Company Secretary in full-time practice.

Option for newly incorporated LLP

If any LLP which has been incorporated on or after 1st October have an option to file its Form 11 for the six months of the financial year or file its Form 11 for eighteen months together i.e. six months of the first financial year and twelve months of next financial year. If an LLP chooses to file its Form 11 for eighteen months together, it will have to provide data for eighteen months and not just of the financial year in which the form 11 is being filed.

Is there an Option to Edit Form 11?

Form 11 once submitted cannot be edited or altered. Also, the information and data provided in Form 11 should match with the Form8, which is an additional form to be submitted by an LLP with ROC. Therefore, it is recommended to seek professional guidance while preparing and filing Form 11.

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The team at the firm has dedicated and experienced professionals and associates like Chartered Accountants, Company Secretary and Consultants to provide end to end services to your business. With the effort of gaining a deep understanding of your business, the team is committed to providing valuable, consistent and efficient services based on its in-depth knowledge and wide experience in the areas of audit, taxation, regulatory compliances, and related business services.

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