Filing LLP Form 11 – Annual Return

The Ministry of Corporate Affairs has waived the payment of additional costs in the case of a delay in filing Form 11 (Annual Return) for the FY 2021–22 by Limited Liability Partnerships up to June 30, 2022, under its General Circular of May 27, 2022.

Annual Return of Limited Liability Partnership (LLP Form 11) (LLP). To avoid penalties and maintain compliance, the return must be electronically filed with the Ministry of Corporate Affairs each year, and annual LLP returns must be submitted electronically and recorded. There is no facility for LLP Form 11 Annual Returns, it is crucial to verify that all the information provided in the form is accurate.

The submission of an LLP Form 11 is not permitted if an eForm 4 (Notice of appointment, cessation, and change in designation of a designated partner or partner) has not been paid for or is currently being processed by the MCA. Therefore, submitting any eForm 4 well before the LLP Annual Return due date is crucial.

Form 11 is due every year on May 30. All LLPs registered under the Limited Liability Act of 2008 must submit Form 11 and Form 8 each year. Last date for filing of LLP Form 11 without paying additional fee has been extended upto 15th July, 2022 by MCA vide General Circular No. 07/2022 dated 29th June 2022.

Annual Return:

Form 11 must be submitted no later than 60 days after the fiscal year’s end or on May 30. (The fiscal year ends on March 31.)

Account and Solvency Statement:

Form 8 must be submitted no later than 30 days after the end of the six months after the end of the fiscal year or on October 30 of each year.

The conditions for submitting the Form 11-Annual Return are discussed in this article. Additionally, we have listed here, in brief, the crucial points to remember when submitting Form 11.

What exactly is Form 11?

Regardless of the amount of revenue generated throughout the year, all LLPs must complete Form 11, which is an annual return. Form 11 must be submitted even if an LLP doesn’t conduct any activities or business throughout the financial year. The following additional details must be stated in addition to the basic information concerning Name, Address of LLP, and Partners/Designated Partners data:

• The total investment made by/to the LLP partners
• Information on notices received about fines and compounded crimes committed throughout the fiscal year

It must be electronically filed through the MCA portal, and the electronic form must be downloaded to be completed offline. A pre-fill option is accessible to reduce your work, and a pre-scrutiny button is provided to verify the data entered. This is finalised before submitting the online form.

How Do I File Form LLP 11?

• Get Form: First, download the form from the MCA Portal and the instruction kit.
• Discover your LLPIN: Enter your LLP name to see all LLPs registered with MCA that contain the words you’ve entered. Get the LLPIN associated with your chosen LLP by selecting it.
• Pre-fill form 11 with the LLP Details: Complete the year to which this form applies. Beginning of the fiscal year for which an annual return is being submitted for the year
• Mention the contribution amount: Mention the total contributions each partner has received.
• Enter the partners’ information: At that point, Designation and DPIN/PAN will be automatically captured. Therefore, you need to click the Pre-Fill button, and the partner’s information will be immediately gathered.
• Information about corporations that are partners: Enter the information about any corporations that must be mentioned as partners. If any partner falls within that category, state their CIN, FCRN, LLPIN, FLLPIN, or other identification number and click the pre-fill button; all of the partner’s information will be automatically gathered.
• Details of the fines imposed on the LLP and the Partners: If any penalties are imposed on LLPs, they must be noted in paragraph 13(ii) and any penalties imposed on partners.
• Information on compounding offences: You must supply the relevant information if you choose to compound your violations.
• You must check the box next to “Does the LLP’s revenue exceed Rs 5 crore?” If the answer is yes, select the Yes button; otherwise, select the No button.
• Verify, sign, and submit this form to complete the process. Then, go online to file the form through the MCA Portal.

What are the conditions to be met?

• Basic data must be pre-filled using (Limited Liability Partnership Identification number) assigned to the LLP.
• Statement of contributions and payments made by each LLP partner
• It is necessary to pay the required fees and submit the e-Form 4 (Notice of appointment, cessation, and change in designation of a designated partner or partner) (If applicable).
• Prepare the DSC of your designated partner.

What supporting documents must you submit with Form 11?

• Information about the LLP annual filing and firm in which the partners or designated partners (DP) are directors or partners (This information must be included if any partner or DP is a partner in an LLP and a director in another company).
• You can optionally attach any other information to this e-Form.

Important considerations while filing your LLP’s annual return

The following are some crucial considerations that all LLPs should keep in mind while submitting the five-page Form 11:

• The pre-scrutiny button on the form can be used to verify the data entered. This will facilitate error-free data processing (Without mistakes).
• Anywhere that requires a declaration of numbers on the forms, those numbers must be submitted as of March 31.
• Information about the LLP or corporation in which the partners or designated partners (DP) are directors or partners. (This information must be included if a partner or designated person (DP) is a partner in an LLP and a director of another company.)
• If either of the following requirements is met, a professional company secretary’s certification of the electronic form is mandatory.
• Partners contributed more than Rs 50 lakhs in total.

OR

• LLP’s annual revenue exceeds Rs 5 crores.

What are the repercussions of submitting Form 11 late?

If the LLP Form 11 annual return is not submitted on or before May 31, a penalty of Rs 100 per day will be applied until the non-compliance persists. You should be able to fill out your form with all the necessary data, and this is because the punishment would not have a cap and would instead escalate over time.

Frequently Asked Questions for Form 11

Q- Is the LLP form 11 deadline postponed?

Most recent updates: MCA extends the deadline for LLP Form 11 until June 30, 2022. According to a circular, “This Ministry has received representation seeking an extension on deadlines for filing the Annual Return (Form 11) by LLPs without incurring additional costs.

Q- How can I get form 11 for LLP to download?

The Ministry of Corporate Affairs is where one must go to obtain the LLP (Limited Liability Partnership) Form 11. (MCA). Users only need to go to MCA Services, select E-filing, and then select the LLP Forms download option; no complicated process is required.

Q- When is Form 11 LLP for Fiscal Years 2020–21 due?

Within 60 days of the end of the fiscal year, this LLP Annual Return must be submitted in LLP Form 11. That indicates that May 30 2021, will serve as the due date for LLP Annual Return Filing in LLP Form 11 for the FY 2021–22.

Q- Is the form 11 LLP required?

Every year, Limited Liability Partnerships (LLP) registered in India under the LLP Act, 2008, are required to submit the LLP Form 11 Annual Return. LLP Form 11 filing is required yearly for all LLPs, regardless of turnover, profit, or field of endeavour.

Q- Can the LLP form 11 be revised?

No. Once Form 11 has been submitted, there is no way to change it.