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OPC Annual Reports
Each One Person Company is required to file annual returns. Comply with OPC ROC
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What you need to Know
What is the Annual Filing of OPC (Office of Personnel Compliance)?
Each company registered in India including limited companies, private limited, section 8 companies, and one-person companies must file an annual return with ROC. OPC must hold an annual meeting and file annual accounts with ROC. Companies Act 2013 states that the financial year must begin on 1st April, and end 31st march. OPC annual filings are a fraction of what is required for a public or private limited company.
The annual return consists of documents and information that includes the balance sheet of the company, the Profit & Loss account, the OPC Compliance certificate, the Registered Office Address of the company, the Register of Members, the Shares and Debentures Details, the Debt Details and Information about the Management. The annual report would also reveal the shareholding structure, Directorship changes and details about transfers of securities.
A company must file three types of forms with the ROC.
- ROC MGT 7 contains information on the shareholding structure and any changes in directorship. It also includes details about the transfer of shares that took place during the year. The deadline for ROC form, MGT 7 is 28th November. The One Person Company is not required to hold an AGM. Therefore, the due date of filing Form MGT 7, shall be 60 Days from the completion 6 months after the end of financial year.
- ROC AOC4 contains information and annexes relating to Balance Sheet, Profit and Loss Accounts, Compliance Certificates, Registered Office Addresses, Registers of Members, Shares, Debentures, Debt Details, and Information about the Management of the company. The deadline for ROC Form AOC4 is 180 days after the end of the financial period. The due date of AOC 4 to OPC is 27th September. If we count 180 calendar days starting on 1st April.
- The ROC Form ADT1 is submitted for the appointment of auditors. The due date of ROC Form ADT 1 is the 14th October i.e. within fifteen days after AGM.
OPC Annual Reporting
Forms
Every year, AOC 4 as well as MGT 7 must be filed. AOC 4 and MGT 7 must be filed every year.
Compliances
A minimum of two board meetings, and at least one annual general assembly are required by an OPC. AGM isn’t mandatory, but it’s a good idea. Chartered Choice can help you with all of the above.
Penalties
Penalties are imposed for failure to file annual returns by a One Person Company. The penalties are in addition to the normal MCA fees and there is no reduction.
Documents required
CIN/PAN
List of main business activities
Details of shares and shareholding
List of debentures and loans
Details of other securities held by the company
Balance sheet
Profit and loss account
Director’s Report
Auditor’s Report
Notice of AGM
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