Running a One Person Company (OPC) involves specific administrative duties, such as ensuring the punctual submission of various forms. Failure to meet these deadlines can lead to fines and potentially harm the company’s legal status. This article offers a detailed overview of the deadlines associated with important forms like AOC-4, MGT-7A, ADT-1, and DIR-3 KYC, providing valuable guidance.
Filing Deadlines for Different Forms for One Person Companies (OPCs)
| Form | Description | Due Date |
|---|---|---|
| AOC-4 | Financial statements of the OPC | Within 180 days from the financial year end (usually 27th September) |
| MGT-7A | Annual General Meeting (AGM) adoption of financial statements | Within 60 days from AGM or by 26th November (whichever is earlier) |
| ADT-1 | Appointment of auditor resolution | Within 15 days from the resolution date (deemed AGM date applies) |
| DIR-3 KYC | Director KYC update | By 30th September annually |
Under no circumstances should the deadlines for submitting the following forms extend beyond:
– MGT-7A: November 26th
– ADT-1: October 11th
This is due to the requirement for a One Person Company (OPC) to file AOC-4 within 180 days from the conclusion of the financial year, which is September 27. Consequently, the member must formally approve the financial statements on or before September 27, and this date of approval is considered as the deemed Annual General Meeting (AGM) date as per the provisions outlined in Section 122(3).
| Date of Signing | AOC-4 | MGT-7A | ADT-1 |
|---|---|---|---|
| 10.09.2023 | 27.09.2023 | 09.11.2023 | 24.09.2023 |
| 25.09.2023 | 27.09.2023 | 24.11.2023 | 09.10.2023 |
| 27.09.2023 | 27.09.2023 | 26.11.2023 | 11.10.2023 |
In summary, OPC proprietors must remain informed about these filing obligations to adhere to legal standards, as neglecting them may lead to fines and future complications. Grasping the specific deadlines outlined in various sections of the Companies Act is essential for the efficient management of a One Person Company. Therefore, it is advisable to note these dates on your calendar and set reminders to prevent any last-minute difficulties.
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