One Person Company (OPC) ROC Annual Compliance

A business registered in India is required to comply with the various annual legal compliances laid down by the corporate laws such as the Companies Act, 2013. Since a majority of startups are registered as companies, annual compliance of a One Person Company becomes the most asked issue faced by growing businesses.Often, businesses are unable to keep track of their annual compliance requirements and fall under the scrutiny of the Ministry of Corporate Affairs (MCA). This not only makes creates numerous hindrances for the business in the form of heavy penalties, but also reduces the chance of the startup’s survival in case of multiple violations.

There are some mandatory compliances a private limited company must ensure-

First Board Meeting
The first meeting of board should be held within 30 days of Company incorporation under Companies Act, 2013. After the first Board Meeting, the Board must meet at least four times in a financial year or once in quarter, with a gap of a maximum of 120 days between two meetings. For this meeting, each director of the Board must be notified via a notice seven days before the meeting. A minimum of 2 or ⅓ of the total number of directors must attend the Board Meeting, and the minutes of the meeting must be recorded and maintained at the registered office of the
company. 

Appointment of Auditor (ADT-1)
First auditor of the Company appointed within 30 days of incorporation of Company.The first auditor shall hold office till the conclusion of 1st Annual General Meeting.

Declaration of Commencement of Business (INC-20A)
It is declaration that all the subscribers to the MOA have remitted the total value of the shares agreed to be taken by them  in the Companies Bank Account.It is filed within 180 days of incorporation of business.

Conduct Annual General Meeting
Every Company, other than One Person Company (OPC), must hold a general meeting in each year apart from other meetings as Annual General Meeting (AGM).The first Annual General Meeting shall be held within nine months from the closing of the first financial year of the company. In other cases, it shall be within six months from the closing of the financial year. A notice of 21 days has to be sent to all members.

Filing of Annual Return (MGT-7)
Every Private Limited Company is expected to file its Annual Return containing the particulars as they stood on the close of the financial year within 60 days of holding of Annual General Meeting. 

Filing of Financial Statements (AOC-4)
Every private Limited Company is expected to file its 'Balance Sheet' along with a statement of 'Profit and Loss Account' and 'Director Report' in this Form in 30 days of holding of Annual General Meeting.

Statutory Audit of Accounts
Every company should prepare its Accounts and get the exact audited by a Professionals/Chartered Accountant at the end of the Financial Year mandatorily. The Auditor should provide an Audit Report and the Audited Financial Statements to file it with the Registrar.

Directors KYC (DIR-3 KYC/Web DIR-3 KYC)
Every person who holds DIN/DPIN as on 31st March of the financial year, he has to submit Form DIR-3-KYC or DIR-3 KYC-WEB for the said financial year on or before 30th September of the immediate next financial year.

Call CA obtained your request for One Person Company(OPC) Company compliance.We will assign a skilled resource who is professionally equiped in business compliance. Our support will help your Private Limited Company to maintain statements and prepare the financial report for each year.

Our support will collect all the required documents and will complete all the designated compliance activities for your OPC like Manage Accounts and Make financial statements, Annual returns, Annual General Meeting, Board meetings,Director reports, Annual Filing of Forms, Yearly Forms by Directors.