Form 3 is required to be filed within 30 days of the incorporation of the LLP or within 30 days of any change in the LLP agreement. This form contains information about the LLP, such as its name, address, partners, capital, and the rights and duties of the partners. It also contains information about the management and administration of the LLP, and the procedure for resolving disputes between the partners.
Form 4 is required to be filed within 30 days of any change in the constitution of the LLP, such as the appointment of a new partner, the resignation of a partner, or a change in the name, address, or designation of a partner. This form also needs to be filed if there is a change in the designated partner of the LLP.
Form 3 and Form 4 can be filed electronically through the Ministry of Corporate Affairs (MCA) portal.
Here is a more detailed explanation of when to file Form 3 and Form 4:
Form 3:
- Within 30 days of the incorporation of the LLP
- Within 30 days of any change in the LLP agreement, such as:
- A change in the name of the LLP
- A change in the address of the LLP
- A change in the capital of the LLP
- A change in the rights and duties of the partners
- A change in the management and administration of the LLP
- A change in the procedure for resolving disputes between the partners
Form 4:
- Within 30 days of the appointment of a new partner
- Within 30 days of the resignation of a partner
- Within 30 days of a change in the name, address, or designation of a partner
- Within 30 days of a change in the designated partner of the LLP
Failure to file Form 3 and Form 4 on time can result in the following consequences:
- A penalty of Rs. 100 per day for each day of delay
- The LLP may be liable for prosecution
- The LLP may be de-registered
It is important to note that the MCA has introduced a condonation scheme for delays in filing Form 3, Form 4, and Form 11. Under this scheme, LLPs can pay a fee to condone the delay in filing these forms.
Here are some additional tips for filing Form 3 and Form 4:
- Make sure that you have all of the required information and documents before you start filing the form.
- Fill out the form carefully and accurately.
- Double-check your form before submitting it.
- Keep a copy of the submitted form for your records.
If you have any questions about how to file Form 3 or Form 4, you can consult with a professional, such as a chartered accountant or a company secretary.