LLP FAQs: Registration, Agreement and Annual Filing
Short answer: An LLP is registered in three steps on the MCA portal: reserve the name (RUN-LLP), file the incorporation form (FiLLiP), then file the LLP agreement in Form 3 within 30 days. After that, every LLP files Form 11 (Annual Return) by 30 May and Form 8 (Statement of Account and Solvency) by 30 October each year. The answers below cover the questions founders ask most often.
Frequently asked questions
What are the steps to incorporate an LLP?
Name reservation: the first step is to reserve the LLP’s name by filing RUN-LLP, which checks that the name is available and reserves it. Incorporation: after the name is approved, file FiLLiP, which contains the details of the proposed LLP, its partners and designated partners, and their consent to act. LLP agreement: executing an LLP agreement is mandatory under section 23 of the LLP Act, and it is filed with the Registrar in Form 3 within 30 days of incorporation. See how to register an LLP, step by step and the documents required.
How long is an approved LLP name valid?
The approved name is reserved for 3 months from the date of approval. If the LLP is not incorporated within that period, the name lapses and becomes available to others; there is no provision to renew it. Check a name first with the LLP name rules checker.
Is it mandatory to file the LLP agreement?
Yes. The LLP agreement must be executed and filed under sections 2(1)(o) and (q), 22 and 23 of the LLP Act. Where the agreement is silent on a matter, the partners’ mutual rights and duties are as set out in Schedule I to the Act, so an LLP that wants to depart from Schedule I must say so in its agreement. See the LLP agreement format.
Which documents must an LLP file every year?
Form 8 (Statement of Account and Solvency) and Form 11 (Annual Return). The Annual Return is due within 60 days of the end of the financial year (30 May), and the Statement of Account and Solvency within 30 days from the end of six months of the financial year (30 October). Every LLP follows a financial year ending on 31 March. See the LLP compliance calendar.
What is the Statement of Account and Solvency?
It is the annual Form 8, which contains the designated partners’ declaration on the LLP’s solvency together with its statement of assets and liabilities and statement of income and expenditure. It is filed every year. See the Form 8 guide.
My LLP was incorporated on 1 December. When are its first annual filings due?
An LLP incorporated after 30 September may close its first financial year either on the coming 31 March or on 31 March of the following year, so its first financial year can run for up to about 18 months. The first Form 11 and Form 8 follow from that year end. See the first financial year of an LLP.
Starting a new LLP? We handle LLP registration in Ahmedabad and LLP registration anywhere in Gujarat, fully online on the MCA portal. Start with the documents required for LLP registration.