For all the companies and LLPs, the government has provided schemes for compliance regularization to give a fresh start. The scheme includes complete penalty waiver and prosecution immunity for the Directors and promoters. Hence to have the benefit of these schemes complete compliances at the earliest.
The Central government introduce a scheme namely LLP Settlement Scheme, 2020 by allowing a one-time condonation of delay in filing statutorily required documents with the Registrar.
Highlights of LLP Settlement Scheme, 2020
Any defaulting LLP is permitted to file belated documents, which were due for filing till 31st August, 2020.
-> Manner of payment of fees on filing belated documents
The defaulting LLPs which have not been filed documents or registered in time on payment of fee as payable for filing of document or return, provided no additional fee shall be payable for filing any belated documents under this scheme.
-> The defaulting LLPs, which have filed their belated documents till 30th September,2020 and made god the default shall not be subjected to prosecution by the registrar for such defaults.
-> Scheme not to apply on certain documents
The scheme shall not apply to the filing of documents except the following documents:
- Form 3- Information with regard to LLP agreement and changes
- Form 4- Notice of appointment, cessation, change in name/address/designation of a designated partner and consent to become a partner/designate partner.
- Form 8- Statement of Account & Solvency
- Form 11- Annual Return of LLP