Annual Filing for OPCs


One-Person Companies (OPCs) exhibit distinct compliance prerequisites due to their singular-member structure. This article endeavors to streamline the process of annual filing for OPCs, elucidating pivotal forms such as AOC-4 (Financial Statement), and MGT-7A (Abridged Annual Return), while delving into the imperative nature of conducting an Annual General Meeting (AGM). The article accentuates the specified deadlines for each filing, offers lucidity on attachment requisites, and contemplates the conceivable repercussions stemming from AGM date extensions on AOC-4 filing cutoffs. This comprehensive manual serves to facilitate OPCs in traversing their annual filing responsibilities seamlessly.

  • The unique compliance advantages enjoyed by OPCs, stemming from their single-member structure, are noteworthy.
  • The crux of this article rests upon the mandatory Annual Filing obligations that OPCs must satisfy with the Registrar of Companies (ROC).
  • Noteworthy among these are vital forms that necessitate annual submission, comprising MSME-1 (Semiannual), DPT-3 (Yearly), and DIR-3 KYC (Yearly).
  • However, the primary spotlight remains firmly on the trio of core submissions: AOC-4 (Financial Statement), MGT-7A (Abridged Annual Return), and the Annual General Meeting.

1. ANNUAL GENERAL MEETING: A common puzzle is whether an OPC must hold a yearly general meeting.

LEGAL PROVISION: Any matter mandating consideration at an annual or general meeting, necessitating an ordinary or special resolution, is deemed fulfilled if, in the case of a One Person Company, the member communicates the resolution to the company and enters it in the minutes-book.

IMPLICATION OF PROVISION: Given the solitary member status of OPCs, they are exempt from holding any form of General Meeting (EGM/ AGM). OPCs are, however, required to meticulously maintain the minutes of the Annual General Meeting as stipulated in Section 122. The due date for OPC’s AGM is the 27th; here, the OPC is merely required to record resolutions slated for the General Meeting, including but not limited to Adoption of Annual Accounts, Directors Report Adoption, and Auditor Appointment.

2. AOC-4 (FINANCIAL STATEMENT): This submission is mandated to be completed within 180 days from the conclusion of the Financial Year. The cutoff date for AOC-4 submission is the 27th of September. Failure to submit AOC-4 by this date incurs an additional fee of Rs. 100 per day. The annexes to AOC-4 encompass the Financial Statement and the Abridged Director’s Report in accordance with rule 8A.

3.  MGT-7A (ABRIDGED ANNUAL RETURN): The due date for this filing stands at 60 days from the AGM date, which is maximally set for the 27th of September. The deadline for MGT-7A submission is the 26th of November. Late filing of MGT-7A incurs a supplementary fee of Rs. 100 per day. The attachments to MGT-7A comprise the List of Directors and the List of Shareholders.

In the event of the MCA extending the AGM date, a pertinent question emerges: Does the deadline for OPC’s AOC-4 submission also extend? Given that OPCs are exempt from convening AGMs, it can be inferred that even if the MCA extends the AGM date, the AOC-4 due date remains unaffected. The stipulated deadline for AOC-4 remains the 27th of September.

In conclusion, the intricacies of the annual filing process for One-Person Companies are demystified through this comprehensive guide. This guide is a valuable resource for OPCs looking to meet their annual filing requirements and strengthen their legal standing.

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