Understanding Form AOC-4 for OPC Annual Return Filing

Introduction

Form AOC-4 is a crucial document that every One Person Company (OPC) in India needs to file with the Registrar of Companies (RoC). This form is used for submitting the financial statements, including the balance sheet and profit & loss account, along with the auditor’s report. Filing Form AOC-4 ensures that your company complies with the statutory requirements under the Companies Act, 2013. In this blog, we will explore the details of Form AOC-4 and how to file it correctly.

What is Form AOC-4 for OPC?

Form AOC-4 is a mandatory filing for companies, including One Person Companies (OPCs), under the Companies Act, 2013. It is used to submit the company’s financial statements, including the balance sheet, profit & loss account, and, if applicable, the cash flow statement. The form also requires the submission of the auditor’s report, which certifies the accuracy of these financial documents. Filing Form AOC-4 ensures that the company complies with statutory reporting requirements and maintains transparency in its financial dealings with the Registrar of Companies.

Who Needs to File Form AOC-4?

• Private Limited Companies: All private limited companies, including One Person Companies (OPCs), are required to file Form AOC-4.
• Public Limited Companies: Public companies, except those listed on stock exchanges, must also file Form AOC-4.
• Small Companies: Small companies, as defined under the Companies Act, 2013, are required to submit Form AOC-4 if they meet the criteria for filing financial statements.
• Companies with Financial Year Ending on 31st March: Any company whose financial year ends on March 31st is required to file Form AOC-4 within 30 days of the Annual General Meeting (AGM).

What Documents Are Required for Filing Form AOC-4 for OPC?

• Balance Sheet
• Profit & Loss Account
• Cash Flow Statement (optional for small companies)
• Auditor’s Report
• Director’s Report
• Copy of Board Resolution
• Certificate of Financial Statements Adoption

What is the Due Date for Filing Form AOC-4 for OPC?

For One Person Companies (OPCs), the due date for filing Form AOC-4 for annual returns is 180 days from the end of the financial year. Since OPCs are not required to hold an Annual General Meeting (AGM), the filing deadline is based on the conclusion of the financial year, which typically ends on 31st March. Therefore, the Form AOC-4 must be filed by 30th September of the same year. Failing to file within this period may result in penalties.

How to File Form AOC-4 for OPC?

1. Prepare the Required Documents: Before filing Form AOC-4, ensure you have the required documents with you.
2. Login to MCA Portal: Go to the Ministry of Corporate Affairs (MCA) website (www.mca.gov.in) and log in using your user credentials.
3. Navigate to e-Forms Section: Once logged in, go to the “MCA Services” tab and select “E-Forms” under the “E-Filing” section.
4. Select Form AOC-4: In the list of available forms, search for and select Form AOC-4 (Annual Filing of Financial Statements).
5. Fill in the Details: Fill in the necessary details in the form, including the financial year, AGM details (if applicable), and other required information about the company and its financials.
6. Attach Documents: Upload the prepared financial statements, auditor’s report, and other required documents in the designated sections of the form.
7. Digital Signature: Attach the digital signature of the Director to the form. The digital signature is mandatory for filing.
8. Pay the Filing Fee: After filling out the form and uploading the required documents, proceed to pay the applicable filing fee. The fee can be paid through net banking or credit/debit cards.
9. Submit the Form: After payment, submit the form for processing by the Registrar of Companies (RoC).
10. Acknowledgment: Upon successful submission, an acknowledgment receipt will be generated. Keep this receipt for your records.

What are the Consequences for Not Filing Form AOC-4 for OPC?

1. Late Fees: If the form is not filed by the due date, a penalty of ₹100 per day will be imposed for every day the filing is delayed. This can accumulate quickly, leading to significant financial penalties.
2. Non-Compliance: Non-filing or delayed filing of Form AOC-4 is considered a breach of the Companies Act, 2013. This can result in the company being marked as non-compliant by the Registrar of Companies (RoC).
3. ROC Penalties and Fines: Continued non-compliance can lead to fines and penalties being imposed on the company and its officers, potentially affecting the company’s reputation.
4. Strike-Off from the Register: If the company repeatedly fails to file the annual return, the RoC may initiate proceedings to strike the company off the register, effectively dissolving the company.
5. Difficulty in Business Transactions: Non-compliance can impact the company’s ability to engage in business transactions, as investors, partners, or banks may hesitate to deal with a company that does not meet legal filing requirements.
6. Loss of Benefits and Credibility: OPCs that fail to file Form AOC-4 may lose access to certain privileges available to compliant companies, such as securing loans or raising capital.

Conclusion

Filing Form AOC-4 is an essential compliance requirement for One Person Companies (OPCs) to maintain transparency and adhere to the legal provisions under the Companies Act, 2013. By submitting this form on time, OPCs ensure their financial statements are accurately reported to the Registrar of Companies (RoC), preventing penalties and maintaining good standing. Timely filing also helps avoid the risk of fines, loss of credibility, or even strike-off from the company register. Therefore, it’s crucial for every OPC to follow the filing process diligently and on time.

Suggested Read :

FY  Year Change for OPC Annual Compliance

Role of Nominee in OPC

AGM Provisions for OPC

Form MGT 7A for OPC

Mandatory Compliance List for OPC

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