LLP Form 8 – Due Date and eFiling Procedure

Limited Liability Partnerships (LLPs) have evolved as one of the most preferred business structures and forms in India, especially for professionals, startups and small businesses. It provides the various benefits of limited liability and flexible and easy management of the business; LLPs merge the advantages of both a partnership and a company as well. However, like every other business entity, LLPs are also required to comply with certain annual filing requirements under the LLP Act, 2008.

One of the most important compliance requirements is the filing of LLP Form 8, which is also referred to as the Statement of Account and Solvency. Filing of this form on time is very important to avoid various penalties and to maintain the LLP’s good standing with the Ministry of Corporate Affairs (MCA).

In this blog, we will cover the various important aspects which you need to know about LLP Form 8 – its applicability, contents, due dates, filing procedure, fees and the penalties for late filing.

What is LLP Form 8?

LLP Form 8 is an essential annual filing form that every Limited Liability Partnership registered in India must file with the Registrar of Companies (RoC). The form is essentially a declaration by the designated partners regarding:

1. Statement of Solvency – Whether the LLP is solvent or insolvent. The designated partners must declare that the LLP is capable of paying its debts and liabilities.
2. Statement of Accounts – The financial summary of the LLP, including details of assets, liabilities, income, and expenses.

Applicability of LLP Form 8

Who needs to file?

Every LLP registered in India must file Form 8 annually, irrespective of whether it has carried out business activities during the financial year or not.

Who signs the form?

• The form must be digitally signed by two designated partners of the LLP.
• Additionally, it must be certified by a Chartered Accountant, Company Secretary, or Cost Accountant in practice.

Exemptions

There are no exemptions – even dormant LLPs or LLPs with no transactions must file a “Nil” return in Form 8.

Due Date for Filing LLP Form 8

The due date for filing LLP Form 8 is 30th October every year.

• For instance, for the financial year 2024–25, the due date to file Form 8 will be 30th October 2025.
• LLPs incorporated on or after 1st October of a financial year can file their first Form 8 in the following financial year.

Important Note: Along with Form 8, LLPs must also file Form 11 (Annual Return) by 30th May each year. Therefore, to remain compliant, an LLP must ensure the timely filing of both Form 11 and Form 8.

Contents of LLP Form 8

Form 8 has two main parts:

1. Statement of Solvency

This section contains a declaration by the designated partners about:

• The LLP’s ability to pay its debts in the normal course of business.
• Confirmation that the financial statements are true and correct.
• A statement that the LLP is not carrying on business for fraudulent purposes.

2. Statement of Accounts

This section captures the financial position of the LLP, such as:

• Sources of funds
• Application of funds
• Details of reserves and surplus
• Assets and liabilities
• Income and expenditure during the financial year

Attachments to Form 8:

• Disclosure under the Micro, Small, and Medium Enterprises Development Act (MSME Act), if applicable.
• Statement of contingent liabilities…!

Step-by-Step Procedure for Filing LLP Form 8 Online

Step 1: Download the Form

• Firstly, you need to visit the official MCA website (www.mca.gov.in) and download the upgraded version of LLP Form 8.

Step 2: Fill in LLP Details

• Enter the required details of LLP, such as LLP Identification Number (LLPIN), name, registered office address and date of incorporation of the company and other details like nature.

Step 3: Fill in Statement of Solvency

• The designated partners must declare the solvency status of the LLP.

Step 4: Fill in Statement of Accounts

• Provide the required financial details and information of the LLP, including assets, liabilities, income and other expenditures.

Step 5: Attach Supporting Documents

• You need to attach the required statements and various other disclosures, such as contingent liabilities and the MSME disclosures, in a proper manner.

Step 6: Certification by Professionals

• Get the form certified by any practising Chartered Accountant, Company Secretary or Cost Accountant.

Step 7: Digital Signatures

• Affix the Digital Signature Certificates (DSCs) of two designated partners.

Step 8: Upload to the MCA Portal

• Log in to the MCA portal, upload the form, and make the payment of filing fees online.

Step 9: Acknowledgement

• After the successful submission of the form, you will receive a confirmation and an SRN for tracking the form status.

Filing Fees for LLP Form 8

The filing fee for Form 8 depends on the contribution of the LLP as stated in its incorporation documents:

Penalties for Late Filing of LLP Form 8

Non-compliance with the due date for Form 8 can lead to heavy penalties:

• Late Fee: ₹100 per day of delay, with no maximum cap.
• Consequences for partners: Designated partners may also face additional penalties for non-compliance.

Importance of Filing LLP Form 8

• Legal Compliance: Filing is mandatory under the LLP Act, 2008.
• Avoid Penalties: Imposing daily penalties can otherwise accumulate.
• Financial Transparency: It maintains accurate and transparent financial disclosure with the government.
• Creditworthiness: To do compliance on a regular basis improves the level of credibility and also helps in loans or investments.
• Active Status: In case of default in filing, it may lead to the LLP being marked as defaulting or inactive by the MCA.

Conclusion

LLP Annual compliance is the fundamental core of maintaining a healthy and legally valid LLP. Among all of these compliances, filing LLP Form 8 is essential as it reflects the financial position and the solvency of the entity. With the due date being October 30th every year, LLPs should prepare and maintain their financial statements well in advance and ensure timely filing to avoid heavy penalties.

Filing Form 8 is not only about keeping the LLP legally compliant but also about enhancing its credibility and transparency in the eyes of its stakeholders, banks and various other regulatory authorities. By abiding by these compliance norms and rules, LLPs can easily focus on their growth while staying legally protected and safe.