All about LLP Settlement Scheme 2020

All about LLP Settlement Scheme 2020

Ministry of Corporate Affairs (MCA) has introduced a One-time condonation of delay in filing statutorily required documents with the Registrar in relation to LLPs. This scheme is applicable for LLPs who have defaulted in filing of LLP E-Form 3,4,8 & 11.

This scheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020.

DEFAULTING LLP” means a LLP registered under the Limited Liability Partnership Act, 2008 which has made a default in filing of documents on the due date(s) specified under the LLP Act, 2008 and rules made there under.

Payment of additional fee Rs 10/- per day for delay in addition to any fee as is payable for filing of such document or return, provided that such payment of additional fee shall not exceed Rs. 5,000/- per document.

The defaulting LLPs, which have filed their pending documents till 13th June 2020 and made good the default, shall not be subjected to prosecution by Registrar for such defaults.

Scheme not to apply to certain documents-

(a ) This Scheme shall not apply to the filing of documents except the following documents:-

(i.) Form-3- Information with regard to limited liability partnership agreement and changes, if any, made therein;

(ii.) Form-4- Notice of appointment, cessation, change in name/ address/ designation of a designated partner or partner and consent to become a partner/ designated partner;

(iii.) Form-8- Statement of Account & Solvency (Annual or Interim);

(iv.) Form-11- Annual Return of Limited Liability Partnership (LLP).

(b ) This Scheme shall not apply to LLPs which has made an application in Form 24 to the Registrar, for striking off its name from the register as per provisions of Rule 37(1) of the LLP Rules, 2009.

Please find the complete notification at this link. To regularize defaulted filing for your LLP, you can contact us on +91 9860843333 or email us at sameer@taxskill.com