MCA introduced an e-form i.e. Form FiLLiP for the process of LLP Incorporation. The new process of incorporation under FiLLiP is much simpler than the earlier incorporation process. Further, the applicant should file Form 3 within 30 days of incorporation to register the LLP Agreement. Applicant should be ready with the required documents for registration of LLP on MCA.
Documents for LLP Registration MCA – Form FiLLiP:
- DPIN (Designated Partner’s Identification Number) Application
If the designated partners do not hold a valid DIN/DPIN, they can apply for allotment of DPIN and incorporation together under Form FiLLiP. Following documents of each designated partner are required: - Copy of Resolution
If one or more of the partners, designated partners or nominees is a body corporate, submit the following documents:- Copy of resolution on the company letterhead to become a partner in the proposed LLP
- Copy of resolution on the company letterhead to authorize an individual to act as a nominee or designated partner on behalf of the company
- Registered Office Proof
- Proof of address of the registered office
Utility bill not older than 2 months. It may be a telephone bill, gas bill, electricity bill, water bill, property tax bill or rent agreement in the name of the owner - NOC i.e. No Objection Certificate
A NOC from the owner allowing the LLP to use the premises as its registered office
- Proof of address of the registered office
- Subscriber’s Sheet
It is a document in which all the designated partners provide their consent of forming an LLP to carry out a lawful business with an intention to earn profits. This document is signed by each partner, designated partner, and nominee. It also requires signatures of a witness - Details of LLP or Company
If the partner or designated partner is a director/ partner in any other LLP or Company, submit details of such LLP or Company - Documents regarding the proposed name of LLP
- Copy of Board Resolution
If the proposed name is similar to an existing company or existing LLP, submit a no-objection certificate - Approval of the Trademark Owner or Applicant
If the proposed name is based on a registered trademark or a pending trademark application, submit approval from the owner - Approval of Central Government
If the proposed name includes any prohibited words as per ‘The Emblems And Names (Prevention Of Improper Use) Act, 1950’, submit approval of the central government - Approval of the Competent Authority
If the proposed name includes any word indicating a connection with a foreign place or country, submit approval of the competent authority - Approval of the Regulatory Authority
If the proposed name includes words which require the approval of regulated authorities, submit such approval
- Copy of Board Resolution
- Optional Attachment
Submit any other required information as an optional attachment
Documents required to file Form 3:
LLP Agreement
It is a written agreement between the partners of LLP. LLP Agreement defines the rights and duties of partners, profit-sharing ratios, partner’s contribution, nature of the business activity, etc. All partners should sign and notarize the LLP Agreement. Once the LLP is incorporated, the LLP Agreement should be registered with MCA by filing Form 3.
FAQs
LLP registration process starting can take up to 3-15 days. From obtaining DSC to Filing Form depending upon the availability of all the documents.
Yes. Just like a company, LLP is a Body Corporate having a separate legal entity. With that being said LLP can have its own internal management structure.
For NRIs and Foreign officials, it is mandatory to submit their passports. It is an identity proof requirement for becoming a partner in any Indian LLP.
Hello @Shelly_Trivedi
In order to register an LLP on Ministry of Corporate Affairs, the first step is to reserve a name for the proposed LLP. In order to reserve name, RUN-LLP needs to be filled out on MCA along with 2 proposed names of the LLP and NoC, if any required by paying a fee of Rs. 200/-
Once the name has been approved by MCA, the name is valid for a period of 3 months within which e-Form FiLLiP needs to be filed along with documents as may be required, for incorporating the LLP. The fees of filing e-Form FiLLiP depends on the contribution of the LLP.
Hope this helps!
Hey @AM_POWER
As per the Limited Liability Partnership Act, 2008, Financial Year is defined as under:
" financial year, in relation to a limited liability partnerships, means the period from the 1st day of April of a year to the 31st day of March of the following year:
Provided that in the case of a limited liability partnership incorporated after the 30th day of September of a year, the financial year may end on the 31st day of March of the year next following that year;"
Hence, an LLP incorporated in February, 2019 can opt for closing its books of accounts in March, 2021. Thus you don’t need to make the compliances for FY 2019-20, as the first financial year will be from February 2019, to March, 2021.
Hope this helps!
Hey @AM_POWER
There was a typo in the previous post regarding the financial year.
However, you wont be able to take the benefit of Financial Year in your case so what you can do is raise a complaint on MCA and explain that Form-3 wasnt approved. Or you can contact your local ROC for this.
Hope this helps!
Hey @AM_POWER
For Form-8 (Section 34) and Form-11 (Section 35) of the LLP Act, 2008, specifies that if any LLP fails to file its annual return before the expiry of the periods specified, such LLP and the Designated Partners shall be liable to pay a penalty of Rs. 100/- per day, subject to maximum Rs. 100,000/-
The above provisions are subject to any extensions that may have been provided by MCA for that financial year.
You can check out the LLP Act, 2008 here.
Hope this helps!
Hi @Mohit_More
In order to add or remove Designated Partner of an LLP, e-Form - 4 needs to be filed within 30 days of such addition/ removal.
You can learn more about making changes in Designated Partners of LLP here
Hope this helps!
Hello @Rachit_Awasthi1
LLP Agreement shall be filed in e-Form-3 within 30 days of incorporation.
Here’s an article that explains LLP Agreement in details
Hey @Vicky_Singh
The major advantages of an LLP over a partnership firm is that an LLP has a separate legal existence than its owners and the liability of the partners of an LLP is limited which is not the case in a partnership firm.
You can read more about the process of converting an a partnership into an LLP here:
Hope this helps!
I had a query, how can I file Annual Return for LLP?
Hey @Nandana
Annual return of LLP is to be filed in e-Form 11. Fill in the details regarding LLP and Designated Partners like their contribution, etc. Details of LLP and or company in which Partner/Designated Partner are a Director/Partner is mandatory to attach with the form.
Hope this helps!
Hey @Ujvin_Nevatia
As per LLP Act, Financial Year means the period starting 1st of April and ending 31st March of the following year. However, since your LLP has been incorporated after 1st April, your financial year will start from the date of incorporation, i.e., 07/11/2020.
Details of Designated Partners is a mandatory attachment for Form-11 even if the Designated Partners are not Directors/ Designated Partners in any other entity. You can mention “NIL” in the field where you are supposed to mention the name of LLP/Company against the DPIN or each Designated Partner.
You can download the format of details of designated partners here
Hope this helps!