Extended Deadlines and Fee Waivers for LLP Forms BEN-2 and 4D Announced by MCA
MCA introduced the LLP BEN-2 form to declare significant beneficial owners under section 90 of the Companies Act, 2013. MCA also introduced the LLP Form No. 4D to declare beneficial interest in LLP contributions.
Introduction The Ministry of Corporate Affairs (MCA) has recently issued new directives providing significant relief to stakeholders by extending the filing deadlines and waiving additional fees for specific LLP forms. This initiative aims to support compliance efforts and smooth transitions under the new system updates.
Key Highlights
• Forms Affected: The notification pertains to Form No. LLP BEN-2 and LLP Form No. 4D, crucial for reporting under the Limited Liability Partnership Act, 2008.
• Rule Notifications: The forms were introduced as part of the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, and the Limited Liability Partnership (Amendment) Rules, 2023. These forms are essential for declarations related to beneficial ownership and contributions.
• Reason for Extension: The MCA is transitioning from MCA-21 version-2 to version-3. To facilitate this significant update and to promote compliance among LLPs, the extensions have been granted.
• New Deadline: LLPs can now file Form LLP BEN-2 and LLP Form No. 4D without any additional fees up until 01.07.2024. This provides ample time for LLPs to adapt to the new requirements and ensure proper reporting.
• Approval: This decision has been approved by the competent authority, ensuring that the changes are officially sanctioned and immediately actionable.
• Conclusion This update from the MCA marks a significant step towards enhancing the regulatory framework for LLPs in India, making it easier for businesses to comply with the statutory requirements during the transition phase of MCA systems. Stakeholders are encouraged to take note of these changes and ensure timely compliance to take advantage of the fee waivers.
Disclaimer: This material and the information contained herein is intended for clients and other Chartered Accountants to provide updates and is not an exhaustive treatment of such subject. We are not, by means of this material, rendering any professional advice or services. It should not be relied upon as the sole basis for any decision which may affect you or your business.
