MCA Extends Deadline and Waives Fees for LLP BEN-2 and Form No. 4D Filings

The Ministry of Corporate Affairs (MCA) has taken a significant step to ease compliance burdens on Limited Liability Partnerships (LLPs) by providing relaxation in additional fees and extending the deadline for filing Form No. LLP BEN-2 and LLP Form No. 4D under the Limited Liability Partnership Act, 2008.

Background

The MCA recently introduced the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, and the Limited Liability Partnership (Third Amendment) Rules, 2023, prescribing E-forms LLP BEN-2 and LLP Form no. 4D, respectively. These forms are essential for filing returns to the Registrar concerning declarations under section 90 of the Companies Act, 2013, and declarations of beneficial interest in contributions received by the LLP.

Relaxation Measures

In light of the transition from MCA-21 version-2 to version-3 and to facilitate compliance for reporting LLPs, the MCA has announced that LLPs can file Form LLP BEN-2 and LLP Form No. 4D without incurring any additional fees until May 15, 2024. These forms will be available in version-3 for filing purposes starting April 15, 2024.

Impact and Importance

This decision aims to alleviate the compliance burden on LLPs during the transition period and promote timely filing of required forms. By waiving additional fees and extending the deadline, the MCA seeks to encourage LLPs to fulfill their regulatory obligations without financial penalties, ensuring smoother transitions and improved compliance rates.

Conclusion

The move by the Ministry of Corporate Affairs reflects a proactive approach to address the challenges faced by LLPs amid regulatory transitions. By providing relief measures, the MCA demonstrates its commitment to facilitating ease of compliance and supporting the business ecosystem. LLPs are encouraged to take advantage of the extended deadline and file the required forms within the stipulated timeframe.

Official copy of the notification is as follows

General Circular No. 01/2024 
F.No. 17/30/2018-CLV 
GOVERNMENT OF INDIA 
MINISTRY OF CORPORATE AFFAIRS

5th Floor, 'A' Wing Shastri Bhawan, 
Dr. R.P. Road. New Delhi 
Dated: 07th February, 2024

To, 
The DGCoA 
All Regional Directors 
All Registrars of Companies
All Stakeholders

Subject: Relaxation of additional fees and extension of last date of filing of Form No. LLP BEN-2 and LLP Form No. 4D under the Limited Liability Partnership Act, 2008- regarding.

Sir,

The Ministry of Corporate Affairs has notified Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 vide G.S.R. No. 832(E) dated 09.11.2023 and prescribed E-form LLP BEN-2 to file Return to the Registrar in respect of declaration under section 90 of the Companies Act, 2013. Similarly, The Ministry of Corporate Affairs has notified Limited Liability Partnership (Third Amendment) Rules, 2023 vide G.S.R. No. 803(E) dated 27.10.2023 and prescribed E-form LLP Form no. 4D to file Return to the Registrar in respect of declaration of beneficial interest in contribution received by the LLP.

2. In view of transition of MCA-21 from version-2 to version-3 and to promote compliance on part of reporting Limited Liability Partnerships, it is informed that such LLPs may file Form LLP BEN-2 and LLP Form No. 4D, without payment of any additional fees, upto 15.05.2024. The two forms shall be made available in version-3 for filing purposes w.e.f 15.04.2024.

3. This issues with approval of the competent authority.

Yours faithfully, (Atma Sah) Joint Director (Policy)

Copy to:

1. E-Governance Section and web contents Officer to place this circular on the Ministry website.
2. Guard File.