Starting a business and registering as a Limited Liability Partnership (LLP), and thus being aware of the various forms used in this process, is very important. Limited Liability Partnership registration requires particular forms to be submitted to the Ministry of Corporate Affairs (MCA).
In order to form a Limited Liability Partnership (LLP) in India, there are various forms to be filed with the Ministry of Corporate Affairs (MCA). These forms are filled with all necessary details and information pertaining to the LLP and partners.
What is an LLP Forms?
LLP forms are a number of different forms that are required to be filed with MCA for the purpose of LLP Registration and Incorporating LLP Company Online. There are multiple forms that need to be submitted for the purpose of incorporating an LLP company in India.
The Process of LLP incorporation is online and requires the help from a Business consultant or a professional to file necessary forms as per the directions of MCA.
Important LLP Forms for LLP Incorporation
| LLP Form Name | Purpose of Filing |
|---|---|
| FiLLiP | Form for LLP Incorporation |
| Form 1 | Application for reservation of name |
| Form 2 | Incorporation document and subscriber's statement |
| Form 3 | LLP Agreement Form |
| Form 4 | Notice of appointment, cessation, or change in designated partners |
| Form 5 | Notice for Change of Name |
| Form 9 | Consent by Designated Partners |
| Form 8 | Statement of Account & Solvency |
| Form 11 | Annual Return of LLP |
| Form 12 | Form for intimating other address for service of documents |
| Form 17 | Application and Statement for Conversion of a Firm into LLP |
| Form 18 | Application and Statement for Conversion of a Private Company/Unlisted Public Company into LLP |
| Form 22 | Notice of Intimation of Order of Court/Tribunal/CLB/Central Government to the Registrar |
| Form 24 | Application for striking off the name of the LLP |
Detailed Description of forms required for LLP Registration
Form 1: Application for reservation of name
This application form is used for applying for the reservation of the preferred name for an LLP. This application form has to be filled out with a minimum of six preferred names in a preferred list. The details required in this application form include business activity, address, and partners' details.
Form 2: Incorporation document and subscriber's statement
Form 2 contains the details regarding incorporation of the LLP, including the registered office, details of partners, and their consent to become a partner, are mentioned in this form. The form also contains a statement of subscribers, indicating the number of partners and their contributions.
Form 3: Particulars of LLP Agreement
This form explains the mutual rights and duties of partners, and the rules pertaining to the LLP. It includes the name and address of the LLP, partners, capital, share of profits, and other major terms.
Form No. 4: Notice relating to change in designated partners-partnership firm
This form serves the purpose of notifying the appointment, cessation, or any changes in the LLP's designated partners and is to be filed within 30 days of such change.
Form 9: Application for the conversion of a firm into LLP
In case of conversion from an existing partnership firm, it is necessary to submit Form 9. It is filled with information regarding the existing partnership firm, partners details, assets and liabilities, among other information, as well as consent from partners to convert
Form 8: Statement of Account & Solvency
Form 8 is the annual filing for LLPs. It should be filed within 30 days after the end of the financial year. This form contains the accounts and solvency statement, showing the LLP's assets, liabilities, capital contributions, and the partners' solvency declaration.
Form 11: Annual Return of LLP
Form 11 is also an annual filing and shall be filed within 60 days after the end of the financial year. It contains details pertaining to the partners of the LLP, the capital structure, changes in the partners during the year, and the details of the designated partners. It also reflects total contribution obligations and the fulfillment thereof.
Form 17: Application and Statement for Conversion of a Firm into LLP
Form 17 is to be filed when converting a partnership firm into an LLP. It contains all the details of the partnership firm, like its name, address, partner details, assets, and liabilities. It has to be filed along with Form 2 and Form 3 at the time of conversion.
Form 18: Application and Statement for Conversion of a Private Company/Unlisted Public Company into LLP
Form 18 is required for converting a private company or an unlisted public company into an LLP. In addition to being complete, the application must include full and accurate details of the company such as: name, registered address, names of the shareholders, list of assets, and list of liabilities. The application must be submitted along with Forms 2 and 3 when converting from an LLP to a company.
Form 24: Application to have an LLP's name struck off
The application form for a company or Limited Liability Partnership (LLP) to have its name struck from the register (Form 24) is prepared so that an LLP may ask the Registrar of Companies to remove the LLP's name from the LLP register.It contains information about the LLP, the reasons for strike-off, and confirmation with the consent of partners. The same must be filed along with fees and documents that are necessary as attachments.
Form 5: Notice for Change of Name
Form 5 is to be filed when there arises a need for the LLP to change its name upon incorporation. It includes the mention of the existing name, new proposed name, reasons for such change, and approval by partners. This form is to be filled out and submitted along with the prescribed fee.
Form 22: Notice of Intimation of Court/Tribunal/CLB/Central Government Order to the Registrar
Form 22 is utilised for the notice of the order/decision of the court on the LLP, given to the Registrar of Companies. It also requires the LLP name, case number, name of the court or tribunal, and brief details of the order. This form is to be submitted within 30 days from the date of receipt of such order or decision.
Conclusion
In conclusion, it is vital to comprehend different forms of LLP registration so as to ensure a smooth process of forming a Limited Liability Partnership in the Indian market. Different forms have different applications and provide information about the registered LLP.
It is important to submit all the required documents for LLP registration while applying for the Incorporation of the LLP Company.
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FAQs on LLP Forms
Is it possible for me to reserve more than one name for my LLP on form 1?
No, you can give a maximum of six names in order of choice in Form 1. The Registrar will assess the availability of the name and select one.
Is an LLP agreement required to be in writing during the registration process?
Yes, it is mandatory that there be an LLP partnership agreement. Form 3 contains the relevant information related to the LLP partnership agreement, including the rights and obligations of the partners, capital, and profit-sharing ratios.
Can foreign nationals become partners in an LLP?
Yes, provided such foreigners comply with the applicable foreign investment regulations and visa requirements they are allowed to be partners in an LLP.
What are the filing requirements for an LLP annually?
LLPs must file Form 8-Statement of Account & Solvency and Form 11-Annual Return with the Registrar of Companies every year.
Can an LLP convert back to a Partnership Firm?
No, an LLP is not allowed to revert to a Partnership Firm after registration. An LLP is legally a separate entity and has its own separate legal existence.
Is it necessary to get professional help in registering an LLP?
Though not mandatory, hiring the services of one who can act as a chartered accountant, for example, can help in carrying out the registration of an LLP in an error-free and hassle-free manner.
What is the Time Period for submitting Form 9 in converting a Partnership Firm into an LLP?
Form 9 has to be submitted within 30 days of making an application for conversion and has to contain information relating to the existing partnership firm, partners, assets, liabilities, and the consent of the partners.
Can an LLP convert to a Private Company or a Public Company?
Yes, it is possible for an LLP to convert to a Private / Company compliant the Companies Act if the prescribed procedures are followed.