LLP Annual Filings
Annual return and statement of accounts for LLPs, filed on time to avoid daily penalties.
Who needs it
All registered LLPs, including those with no business during the year.
An LLP has lighter compliance than a company, but it still has to file every year, whether or not it has done any business. The two annual forms are simple; the trouble is that late fees run at ₹100 a day for each form with no upper limit, and many LLPs only discover the arrears when they want to open a bank account, apply for a loan or close down. We take care of the annual filings and the income tax return together, so the records match.
Annual filings
| Filing | What it covers | Due |
|---|---|---|
| Form 11 | Annual return: partners, designated partners and contributions | 30 May |
| Form 8 | Statement of account and solvency: assets, liabilities, turnover and a declaration of solvency, signed by designated partners and certified by a practising professional | 30 October |
| ITR-5 | Income tax return of the LLP | 31 July, or 31 October if audit applies |
| Tax audit report | Where turnover exceeds the section 44AB limits | 30 September |
| DIR-3 KYC | KYC of each designated partner holding a DPIN / DIN | 30 September |
The financial year of an LLP ends on 31 March. LLPs must also maintain books of account at their registered office on a cash or accrual basis and double entry system.
When an audit is required
The LLP's accounts must be audited if its turnover exceeds ₹40 lakh or its partners' contribution exceeds ₹25 lakh in the year. Smaller LLPs can have their accounts audited voluntarily, or the partners can certify them. A tax audit under the Income-tax Act applies separately above its own limits.
Event-based filings
- Form 3: changes to the LLP agreement, within 30 days
- Form 4: admission, retirement or change in designation of partners, within 30 days
- Form 15: change of registered office
- Form 5: change of name
- Charge filings where the LLP borrows against its assets
Consequences of not filing
- Additional fees of ₹100 a day per form, with no upper limit
- Penalties on the LLP and designated partners
- The LLP may be treated as defunct and struck off
- Designated partners may face difficulties in other companies and LLPs
How we help
- Preparing financial statements and coordinating the audit, where required
- Filing Form 11, Form 8 and the income tax return, with consistent figures
- Filing changes in partners, agreement and office
- Clearing arrears for LLPs that are behind, including advice on any amnesty or condonation schemes available
- Reminders before each due date
Common questions
Our LLP did no business. Do we still file?
Yes. Form 11 and Form 8 are due every year, with nil figures where appropriate. An LLP with no business for a year can instead apply to be closed.
Who certifies Form 8?
It is signed by two designated partners and certified by a practising chartered accountant, company secretary or cost accountant.
Can arrears still be filed?
Yes, with the additional fees. Filing the arrears is usually needed before an LLP can be closed or its record cleaned up.
Documents to keep ready
- LLP agreement and any amendments
- Financial statements and audit report, if audit applies
- Details of partners and contributions
- DSCs of designated partners
- Previous year's Form 8 and Form 11