One Person Company (OPC) Annual Filings – Due Dates and Key points

OPC Annual Filings – Timeline and Key points:

Define OPC: Sec 2(62) ‘One Person Company’ means a company which has only one person as a member.

ü  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).

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

ü  A person can be member in only one OPC.

ü  The following 2 E – forms to be filed for Annual ROC filing is:

•       MGT-7 – Annual return

•       AOC- 4 – Financial Statements, Balance Sheet & P&L Account

ü  Due date for Annual Financial Statements (AOC-4): The due date for Annual Filing is 27.09.2021 (if FY ended on 31.03.2021)

ü  Due date for Annual Return (MGT-7: 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 60th day from 27.09.2021.

ü  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 (27.09.2021) of INR 100/- per day for each day for which default continue.   

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