LLP Form 8 – Statement of Account & Solvency (MCA V3 Guide)
Introduction
LLP Form No. 8 is a statutory return that every Limited Liability Partnership (LLP) and Foreign LLP (FLLP) must file annually with the Registrar of Companies (ROC) through the MCA portal.
The form serves two purposes:
- Filing the Statement of Account & Solvency, and
- Reporting any Charge creation, modification or satisfaction.
This article summarises the requirements based on the official Instruction Kit for LLP Form No. 8 issued by the Ministry of Corporate Affairs (MCA).
Legal Basis
- Section 34(2) & 34(3) of the LLP Act, 2008
- Rule 24 of LLP Rules, 2009
The law makes it mandatory for every LLP to maintain proper books of accounts and file an annual Statement of Account & Solvency.
Key Components of Form No. 8
| Section | Purpose | Notes |
|---|---|---|
| Statement of Account & Solvency | Annual declaration of assets, liabilities, income, and solvency status | Date must correspond to the financial year-end (generally 31st March) |
| Charge Details | Used for charge creation, modification, or satisfaction | Requires details like instrument date, lender details, amount secured, and charge ID |
| Contribution Obligation | Displays the total obligation of contribution of partners | Pre-filled from MCA database |
| Attachments | Supporting documents (e.g., charge instrument) | PDF/JPG format, max 2 MB each |
| Certification | Signed digitally by Designated Partners or Auditors | If turnover > ₹40 lakh OR contribution > ₹25 lakh → Auditor’s certification is mandatory |
Deadlines & Fees
- Due Date: Within 6 months of financial year end (i.e., by 30th September each year).
- Normal Filing Fees (based on obligation of contribution):
| Contribution Slab | Normal Fee (INR) |
|---|---|
| Up to ₹1,00,000 | ₹50 |
| ₹1,00,001 – ₹5,00,000 | ₹100 |
| ₹5,00,001 – ₹10,00,000 | ₹150 |
| Above ₹10,00,000 | Higher slabs apply |
Additional Fees for Late Filing
If Form 8 is filed after the due date, additional fees are levied on top of the normal filing fee. The structure is as follows:
| Period of Delay | Additional Fee Payable |
|---|---|
| Up to 15 days | 1 × Normal filing fee |
| More than 15 days and up to 30 days | 2 × Normal filing fee |
| More than 30 days and up to 60 days | 4 × Normal filing fee |
| More than 60 days and up to 90 days | 6 × Normal filing fee |
| More than 90 days and up to 180 days | 10 × Normal filing fee |
| More than 180 days and up to 360 days | 15 × Normal filing fee |
| More than 360 days | 25 × Normal filing fee |
The longer the delay, the higher the penalty multiplier. Hence, timely filing is critical.
Important Points
- Accuracy matters: Form 8 is processed in STP mode (auto-approved), so errors cannot be corrected later.
- No resubmission: Once filed and accepted, you cannot revise the same form.
- First-year filing: If it’s your first filing, previous year’s figures must be shown as zero.
- Charge Filings: Ensure instrument dates are consistent with earlier filings.
Penalties for Non-Compliance
Failure to file Form 8 on time may result in:
- Additional fees (hefty penalties for prolonged delays).
- Prosecution and penalties on the LLP and its designated partners under the LLP Act, 2008.
Conclusion
LLP Form 8 is a crucial compliance requirement for every LLP in India. Timely filing not only avoids penalties but also ensures financial transparency and proper charge management.
LLPs should mark 30th September as a non-negotiable deadline every year for Form 8 to remain compliant with MCA requirements.
FAQs
Q1. Who needs to certify LLP Form 8?
If turnover > ₹40 lakhs or contribution > ₹25 lakhs → CA/CS/CMA in practice must certify.
Q2. Can LLPs with no business file “Nil” Form 8?
Yes. Even LLPs with no activity must file Form 8 declaring nil income/expenditure.
Q3. What happens if Form 8 is not filed?
Heavy additional fees apply. Designated partners may also face penalties.
Q4. Can Form 8 be revised?
No. Once filed, Form 8 cannot be revised. Ensure correctness before submission.
Q5. Whose Digital Signatures are required on the Form 8? Atleast Two Designated Partners’ digital signatures and digital signature of one of the practicing professional is mandatory. If Audit is applicable, then Auditor’s digital signature is also required.