As per the Limited liability Partnership Act, the filing of the LLP Agreement is compulsory within 30 days of incorporation of the LLP. It is filed with Registrar in LLP Form 3 which is available on MCA Portal.
Limited Liability Partnership Agreement is a written agreement executed among the partners of a Limited Liability Partnership or between LLP and its partners. It defines the mutual rights and duties of the partners of LLP.
Limited Liability Partnership Agreement also called as LLP Deed is the legal document that has the following purposes:-
It contains the following information:-
This Agreement defines the mutual rights and liabilities of the partners of a Limited Liability Partnership. However, if an LLP does not have a deed then the provisions of Schedule I of the LLP Act 2008 apply.
Schedule I of LLP Act 2008 contains the following provisions:-
First, draft the LLP Agreement for attaching in LLP Form 3. This Agreement is filed through the following procedure.
Firstly, log in to the MCA portal.
Under MCA services tab, click on LLP Forms download under e-filing.
Under LLP forms, you will find Form 3 of LLP. Click on it and download with or without help kit as per your preference.
Open the form in PDF. Start filling it.
Enter the LLPIN of your LLP. Click on Prefill. The details of your LLP will get prefilled.
Enter the place and date of LLP Agreement.
Mutual Rights and duties of partners
Restrictions on authority of partners
Management and administration of LLP
Resolution of disputes between partners and LLP
Information relating to Voluntary winding up of LLP
Attach the original LLP Agreement
The attached LLP Agreement should be on stamp duty and should be notarized.
Attach the other attachments, if any.
Enter the details of the professional who shall certify the form.
Once the form is filled, click on check form.
After the check form is successful, click on pre scrutiny.
Upload the properly dated and signed form on MCA Portal.
After the successful upload, proceed to make payment.
Once the payment is done, receipt will get generated.
You can get the Form 3 LLP on MCA Portal. Visit the MCA Portal. Click on MCA services Tab. Under e filing, select LLP forms download. You will find Form 3 of LLP there to download.
Yes it is compulsory for every LLP to file Form3 for LLP Agreement within 30 days of its incorporation.
In case of non filing of Form3 with MCA , a penalty of INR 100 per day is levied for this default.