Last updated: February 20th, 2024 2:35 PM

MCA waives fees and extends deadline for filing LLP BEN-2 & Form No. 4D

MCA introduced e-forms LLP BEN-2 and LLP Form No. 4D to enhance transparency and LLP compliance. On 7th February 2024, MCA issued a notice that waived the additional fees and extended the deadline for filing LLP BEN-2 and Form No. 4D. Let’s explore the LLP forms clearly, MCA fee relaxation and deadline extension for LLP reporting forms. File your LLP forms with IndiaFilings before the deadline!! [shortcode_72]

Synopsis of MCA notification

• MCA has introduced LLP BEN-2 and LLP Form No. 4D to promote transparency and LLP compliance
• MCA introduced the LLP BEN-2 form to declare significant beneficial owners under section 90 of the Companies Act, 2013.
• MCA also introduced the LLP Form No. 4D to declare beneficial interest in LLP contributions.
• MCA waives additional fees and extends the deadline till 15.05.2024 for filing LLP BEN-2 and LLP Form No. 4D.

An Overview of LLP BEN-2 & LLP Form No. 4D 

• LLP BEN-2: The Ministry of Corporate Affairs has introduced Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, and prescribed E-form LLP BEN-2 to file a Return to the Registrar regarding declaration under section 90 of the Companies Act, 2013. It helps to identify individuals with significant control or economic interest in the LLP. 

• LLP Form No. 4D: MCA also introduced Limited Liability Partnership (Third Amendment) Rules, 2023 and prescribed E-form LLP Form no. 4D to file a Return to the Registrar regarding the declaration of beneficial interest in contribution received by the LLP. It tracks beneficial interests in contributions received by the LLP, regardless of the source.

Relaxation Measures by MCA

LLPs can file Form LLP BEN-2 and LLP Form No.4D without additional fees up to 15.05.2024. These LLP reporting forms will be accessible in version-3 for filing starting April 15, 2024. MCA has announced relaxation measures in response to the transition of the MCA-21 portal from version-2 to version-3, and to promote LLP compliance. 

Impact & Benefits for LLPs

The relaxation measures offer significant benefits to LLPs. Firstly, by waiving additional fees, LLPs can have financial savings. This eases the burden of complying with regulations and helps maintain cash flow. Secondly, the extended deadline gives LLPs more time to gather necessary information, seek professional advice if required, and ensure accurate filing without rushing. This promotes smoother compliance and reduces the risk of mistakes or penalties. These measures highlight the MCA's dedication to supporting LLPs and creating a favourable business environment.

Conclusion:

The notice issued by the Ministry of Corporate Affairs helps the LLPs cope with challenges in the face of regulatory transitions. With these measures, MCA reduces the LLP compliance burden and supports the good business ecosystem. LLPs can use this advantage of extended deadlines to file the required reporting forms within the expected timeframe. Ensure timely filing of your LLP forms with IndiaFilings!! [shortcode_72]

Official MCA notice on LLP Fee Relaxation and Deadline extension for filing LLP Forms

Below, we have attached notice by MCA waiving fees and extending the deadline for filing LLP BEN-2 and LLP Form No. 4D [pdf-embedder url="https://www.indiafilings.com/learn/wp-content/uploads/2024/02/mca-additional-fee-relaxation-and-deadline-extension-for-llp-ben-2-and-llp-form-no-4d.pdf"]