OPC Annual Filing 2023

OPC Annual Filing 2023: Key Summary

q  Define One Person Company:

Sec 2(62) "One Person Company" means a company which has only one person as a member. 

For OPC: Return Filing Provisions & AGM

q  Section 137 of the Companies Act, 2013

One Person Company shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial statements, within one hundred eighty (180) days from the closure of the financial year. 

q  AGM not Applicable for OPC: Section 96

(1) Every company other than a One Person Company shall in each year hold in addition to any other meetings, a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it, and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next.

q  OPC Annual Filings – Timeline and Key points:

One Person Company shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial statements, within one hundred eighty (180) days from the closure of the financial year.  (Section 137 of the CA 2013).

§  AGM not Applicable for OPC: (Section 96.)

§  A person can be member in only one OPC.

§  The following 2 E - forms to be filed for Annual ROC filing is:

                                      i.      MGT-7 - Annual return

                                    ii.      AOC- 4 - Financial Statements, Balance Sheet & P&L Account

§  Due date for Annual Financial Statements (AOC-4): The due date for Annual Filing is 27.09.2023 (if FY ended on 31.03.2023)

§  Due date for Annual Return (MGT-7A): OPC does not require to hold AGM, yet the due date for filing Form MGT 7 shall be 60 days from the completion of the 6 months from the end of financial year, that means due date will be 60^th day from 27.09.2023.

Form MGT-7A is the form prescribed for Annual Return of One Person Company and Small companies. This form is applicable in respect of Annual Return for the F.Y. 2021-22 and onwards of OPC as defined under Section 2(62) of Companies Act, 2013, and small companies.

§  Penalty for non - submission with in due timeline: 

In case a return has not been filed, a Penalty (additional fees) will be levied from the due date (27.09.2023 – in case of AOC-4) of INR 100/- per day for each day for which default continue.   

§  DIR - 3 KYC Compliance: 

It is mandatory compliance for DIN / DPIN holders.

a.       E- Form DIR-3 KYC is to be filed by an individual who holds DIN / DPIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in e-form DIR-3 KYC but wants to update his details.

b.      Web service DIR-3-KYC-WEB is to be used by the DIN / DPIN holder who has submitted DIR-3 KYC eform in the previous financial year and no update is required in his details.

Due date for filing the KYC form is 30th September, 2023. Penalty is 5000 per DIN / DPIN if not filed within timeline.

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