Everything about Annual Filing of One Person Company (OPC)

SHORT SUMMARY

A one-person Company is a company that has only one person as its member. Being a one-member company, the OPC has fewer compliance requirements compared to a private limited company or Limited Liability Partnership.

In this article, the author will discuss the Annual Filing of a one-person Company with the Registrar of Companies.

There are many forms that an OPC is required to file with the ROC on an annual basis. Like

In this editorial author shall discuss about following filing and concepts

• AOC-4 (Financial Statement)
• MGT-7A (Annual Return)
• Annual General Meeting

I. ANNUAL GENERAL MEETING

There is always dilemma that, whether OPC is required to hold Annual General Meeting or not?

LEGAL PROVISION

Any business which is required to be transacted at an annual general meeting or other general meeting of a company by means of an ordinary or special resolution, it shall be sufficient if, in case of One Person Company, the resolution is communicated by the member to the company and entered in the minutes-book.

IMPACT OF PROVISION

1. As OPC having only one member, therefore OPC is not required to hold any General Meeting (EGM/ AGM).
2. OPC have to maintain minutes of Annual General Meeting as per (Section 122).
3. Due date of AGM of OPC is 27th September.
4. OPC just have to take note the resolution to be passed in General Meeting Like:

• Adoption of Annual Accounts
• Adoption of Directors Report
• Appointment of Auditor. Etc.

II. AOC- 4 (FINANCIAL STATEMENT)

• It is required to file within 180 days from the end of Financial Year.
• Due Date of AOC-4 is 27th September 2022.
• If AOC-4 filed after 27 September, there is additional fees of Rs. 100 per day.

Attachment to AOC-4

• Financial Statement
• Abridge Directors Report (As per rule 8A)

III. MGT- 7A (ABRIDGE ANNUAL RETURN)

• It is required to file within 60 days from the Date of AGM
• AGM can be held maximum Upto 27 September 2022.
• Due Date of MGT-7 is 26th November 2022.
• If MGT-7 filed after 26 November, there is additional fees of Rs. 100 per day.

Attachment to MGT-7A

• List of Director
• List of Shareholder

If Date of AGM is extended by MCA, whether Due Date of AOC-4 of OPC shall be extended or not?

As OPC is not required to hold any AGM. Therefore, one can opine that, even if the date of AGM extended by the MCA, It will not impact the Due Date of AOC-4. Due Date of AOC-4 shall be 27 September.