LLP Amnesty scheme 2023

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MCA grants one time relaxation in filing LLP form-3, Form-4 &Form-11

LLP Amnesty scheme 2023

Due to technical glitches, certain Limited Liability Partnerships (LLPs) were unable to submit their Form 11, Form 3, and Form 4 within the stipulated timeframe. Consequently, the Ministry of Corporate Affairs (MCA) has chosen to provide a special one time concession by waiving off additional fees for these LLPs.

Here are the key points of General Circular No 08/2023 dated 23/8/2023 to note:

✅Simplified Processing: Form-3 and Form-4 submissions will undergo a Straight Through Process (STP) mode, except for alterations in business activities. It's recommended to file these forms sequentially, starting with older event dates, to ensure accurate master data updates.

✅Pre-filled Data with Edit Option: When filing these forms, pre-filled data aligned with the existing master data of the LLP will be provided. However, this data can be edited as needed. Responsibility for accurate data lies with the stakeholders. Incorrect representation could lead to consequences for both the Designated Partner and the certifying professional, in accordance with legal provisions.

✅Additional Fee Waiver for Specific Periods: Filing Form-3 and Form-4 without extra charges applies to events from January 01, 2021 onwards. For events preceding January 01, 2021, these forms can be submitted with an additional fee of two times and four times the standard filing fee for small LLPs and non-small LLPs respectively.

✅Form-11 Filing without Extra Fee: From the financial year 2021-22 onwards, Form-11 can be filed without incurring additional charges. For previous financial years (pre-2021-22), Form-11 can be submitted with an additional fee of two times and four times the regular filing fee for small LLPs and non-small LLPs respectively.

✅Limited Timeframe for Filing: The period for submitting these forms is from September 01, 2023 to November 30, 2023, both dates inclusive.

✅Immunity from Delayed Filing Consequences: LLPs utilizing this scheme will not face any repercussions for delayed filing of Form-3, Form-4, and Form-1

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