LLP Settlement Scheme – 2020

(General Circular No 06/2020 dated 4th March, 2020)

A Onetime relaxation in additional fees to the defaulting LLPs

LLP Settlement Scheme, 2020 is a scheme to give a One Time relaxation In additional fees to the defaulting LLP’s to make good their default by filing pending documents viz. Form Nos 3, 4, 8 and 11.

• Form-3 : Information with regard to limited liability partnership agreement and changes, if any, made therein;
• Form-4 : Notice of appointment, cessation, change in name/ address/ designation of a designated partner or partner and consent to become a partner/ designated partner,
• Form-8 : Statement of Account & Solvency (Annual or Interim);
• Form-11: Annual Return of Limited Liability Partnership (LLP).

Present Scenario: In the event of requisite forms not being filed within prescribed time, LLPs may file such documents on payment of additional fee of one hundred rupees for every day of such delay under Section 69 of the LLP Act in addition to any fee as is payable for filing of such document or return

LLP settlement Scheme: Any “defaulting LLP” is permitted to file belated documents, which were due for filing till 31st October, 2019 in accordance with the provisions of this Scheme: The defaulting LLPs may themselves avail of the scheme for filing documents which have not been filed or registered in time on payment of additional fee Rs. 10 per day for delay in addition to any fee as is payable for filing of such document or return, provided that such payment of additional fee shall not exceed Rs. 5,000 per document.

Applicability: The Scheme which shall come into force on the 16th March, 2020 and shall remain effective up to 13th June, 2020 (both days Inclusive).