Form 3 LLP, What is Form 3 LLP, LLP Form 3, LLP Agreement, Ebizfiling

What is LLP Form 3? Document Required And How to file form 3?

Introduction

Limited Liability Partnership (LLP) Form 3 is a crucial document that records the LLP agreement between partners, defining their roles, rights, and responsibilities. Filing this form with the Ministry of Corporate Affairs (MCA) is mandatory to ensure legal compliance under the Limited Liability Partnership Act, 2008. It contains key details like profit-sharing ratio, capital contribution, and management structure, making it essential for smooth business operations. Proper submission of LLP Form 3 within 30 days of incorporation helps avoid penalties and legal complications. Understanding its requirements and filing procedure ensures compliance and seamless functioning of an LLP.

What is LLP form 3?

LLP Form 3 is a legal document that records the agreement between partners of a Limited Liability Partnership. It includes details like profit-sharing, capital contribution, partner roles, and business regulations. This form must be filed with the Ministry of Corporate Affairs (MCA) within 30 days of LLP incorporation. Filing it on time ensures the LLP operates legally and avoids penalties. It is a crucial step in defining how the LLP will function.

Reasons to File LLP form 3

  • It is mandatory under the LLP Act, 2008, to file the LLP agreement with the MCA.
  • Helps to define the roles of partners like their rights, duties, and responsibilities.
  • It outlines how profits and losses will be shared among partners.
  • Provides a structured framework for the LLP.
  • Ensures clarity in management and decision-making.

Details require to File LLP form 3

To file LLP form 3, Below mentioned details required;

  • LLP Information: LLP name, LLP Identification Number, and date of LLP incorporation.
  • Partner Details: Names, addresses, and designated partner identification numbers of all partners.
  • LLP Agreement: Copy of the executed LLP agreement, including terms and conditions.
  • Capital Contribution: Details of each partner’s capital contribution and profit-sharing ratio.
  • Business Activities: Description of the LLP’s main business operations.
  • Registered Office Address: Registered address of the LLP as per records.
  • Stamp Duty Proof: Payment proof for stamp duty on the LLP agreement, as per state laws.
  • Digital Signatures: DSC of designated partners for online filing.

Get LLP Registration online and LLP Annual Return Filing with our expert services for smooth compliance and stress free filing.

How to file LLP form 3 online?

An LLP must file form 3 within 30 days of incorporation to avoid penalties. For that, we have mentioned step-by-step details below to file form 3 online;

  • Step 1: Login to MCA Portal with your credentials.
  • Step 2: Go to the LLP forms and download LLP form 3.
  • Step 3: Enter the details such as LLP details, Partner Information, Profit-sharing ratio, Capital Contribution, and Business activities.
  • Step 4: Attach the necessary documents like LLP agreement, Stamp Duty Proof, and other required documents.
  • Step 5: Login to the MCA portal, go to ‘Upload E-Forms’, and submit the completed form.
  • Step 6: Pay the fees according to the LLP’s Contribution amount.
  • Step 7: After submission, a Service Request Number is generated for tracking.
  • Step 8: If there is no error and all details are correct, then MCA will approve the forms and update the LLP records.

Registration fee for LLP form 3

The fee of filing LLP form 3 depends on the LLP capital contribution.

LLP Capital Contribution (In ₹) Fees (In ₹)
Up to 1 lakh 50
From 1 Lakh to 5 Lakh 100
From 5 Lakh to 10 Lakh 150
From 10 Lakh to 25 Lakh 200
From 25 Lakh to 1 Crore 400
1 Crore or above 600

LLP From 3 Due Dates

In India, Limited Liability Partnerships (LLPs) need to submit Form 3 to the Registrar of Companies (RoC) within 30 days of their registration. This form contains details of the LLP agreement, which defines the roles, responsibilities, and rights of the partners.

If any changes are made to the agreement like updating partner details, profit-sharing, or business activities Form 3 must be resubmitted within 30 days to inform the RoC.

Penalty for late filing of Form 3

If an LLP fails to file Form 3 within the prescribed timeframe, it must pay a late fee penalty. The penalty amount varies based on the delay period and LLP size, with Small LLPs paying lower penalties than large LLPs. Longer delays result in higher penalties; for delays up to 15 days, the LLP pays 1x the normal fee, while delays exceeding 260 days require a payment of 50x the normal fee. To avoid financial and legal issues, timely filing of LLP form 3 is essential.

Conclusion

LLP Form 3 is a mandatory filing that legally records the LLP agreement, ensuring clarity in partner roles, profit-sharing, and business operations. Timely submission within 30 days of incorporation helps avoid penalties and ensures compliance with MCA regulations. The filing process is straightforward but requires accurate details and necessary documents. Understanding the fees and penalties associated with late filing is crucial for smooth business operations. Proper compliance with LLP Form 3 filing ensures a well-structured and legally compliant LLP.

Suggested Read :

 LLP Form 4

LLP Form 8

Borrowing Clause of LLP Agreement

LLP Form 11

LLP Annual Filing

FAQ

1. What is the purpose of LLP Form 3?

LLP form 3 records the LLP agreement, defining partner roles, profit-sharing and operational guidelines.

2. When should LLP Form 3 be filed?

It Must be filed within 30 days of LLP incorporation to avoid penalties.

3. What happens if LLP Form 3 is not filed on time?

Late Filing leads to penalties, increasing based on the delay period, with a maximum of 50x the normal fee.

4. What documents are needed for LLP Form 3?

The LLP agreement, partner details, capital contribution, business activities, registered office address, and DSC.

5. How can I file LLP Form 3 online?

You can file it on the MCA portal by filling out the form, attaching required documents, signing digitally, and paying the applicable fee.

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Author: zarana-mehta

Zarana Mehta is an MBA in Finance from Gujarat Technology University. Though having a masters degree in Business Administration, her upbeat and optimistic approach for changes led her to pursue her passion i.e. Creative writing. She is currently working as Content Writer at Ebizfiling.

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