Filing of Form-8 LLP

Introduction

LLP is one of the popular business structures among the entrepreneurs/businessmen. The basic compliances of LLP include the filing of LLP Form-3, Form-8, Form-11. One of the basic and important forms is Form 8 LLP for filing the statement of accounts and solvency which works as a declaration stating the financial position of an LLP. To file LLP form 8, there are certain documents that are required. However, the procedure to complete the compliance needs the complete guidance of any experienced person. Also, there are certain penalties one needs to bear if they don’t file the form before the due date. You can read this article to get a better understanding related to form 8 LLP.

What is Form-8 LLP?

Form-8 or Statement of accounts and solvency is a declaration to the Registrar of Companies (ROC) stating the financial statement of an LLP. Filing of form-8 is one of the crucial annual compliances of an LLP. Form-8 declares the financial position of the LLP which gives an idea if the LLP has the capacity to pay its liability or not. Delay in filing this form can lead to penalties which the LLP needs to bear.

What are the documents required to file Form-8?

In order to file llp form-8 certain documents are required before proceeding. These documents are as follow:

1. LLPIN: LLPIN stands for Limited Liability Partnership Identification Number. It is a 7-digit unique identification code for every LLP in India upon its incorporation. You can use this LLPIN to check your LLP details.
2. DSC: Digital Signature Certificate is required of all the designated partners of the LLP.
3. Statement of Assets and Liabilities: Statement of assets and liabilities of the LLP is required as of 31st March of the financial year. This statement provides complete detail of assets and liabilities of LLP.
4. Statement of Income & Expenditure: Statement of income and expenditure is an essential document required at the time of filing form-8 which covers the profit or loss of the LLP.
5. Jurisdiction: Jurisdiction of Police Station for the registered address of the LLP is required to file form-8.
6. LLP Agreement: LLP agreement is required only if there has been any changes and not yet updated.

Information Required to fill Form-8

Other than documents, several information is required to fill the form-8. This information include:

• LLP Name: The registered name of an LLP is required in order to file form-8.
• Registered Address: The registered address on MCA portal is required.
• Turnover Details: The turnover status is required if it exceeds ₹40 lakh or not.
• Contribution Details: Detail of capital contribution is required if the obligations of contribution exceeds ₹25 lakh or not.

Fees for filing Form-8 of LLP

The fee for filing form-8 of LLP depends on the contribution partners have made during the incorporation. Following is the table with detail fee structure:

Note: In case of Foreign LLP, the fee is ₹1000/- per document.

Due Date and Penalty for not filing MCA LLP form-8

For filing Statement of accounts and solvency or form-8 llp due date is 30th October for every year. There is a certain late filing fee for form-8 llp. The penalty depends on the capital contribution and the period of delay. The detail penalty structure is given below:

Form-8 Format

Applicants should be familiar with the format before filing the form-8 as it helps to avoid mistakes at the time of filing it. It also helps for better understanding of the documents required for the filing of Form-8 LLP. Following is the format of Form-8 LLP. The format of form 8 is divided into two parts:

Why Bizfoc?

Bizfoc offers hassle free filing for Form-8. We guide our clients throughout the process. We assist you in gathering the complete documents and the required information. We believe in quality while maintaining the time limit. At Bizfoc, we specialize in handling all LLP-related filings, including Form-8, ensuring that your business remains compliant with MCA regulations.

Conclusion

LLP cannot afford to ignore the filing of form-8 of llp as it is a crucial compliance. It ensures the financial status of the llp. LLP Form-8 works as a statement of accounts and solvency. You can avoid penalties by following the correct procedure and filing the form-8 on time. The fees for filing form-8 depends on the capital contribution and the due date for filing form-8 LLP is just 30th October of every year.

Frequently Asked Questions