Checklist for Annual Filing of a Company. Filing annual returns and financial statements is mandatory for companies under the Companies Act, 2013. Two important forms for this process are AOC-4 (for financial statements) and MGT-7 (for annual returns). Below is a detailed checklist to ensure accurate and timely filing.

Checklist for Annual Filing of a Private Limited Company

1. General Preparation Checklist

Before filing AOC-4 and MGT-7, gather the following:

• Board and Shareholder Meeting Resolutions: Copies of resolutions approving financial statements and annual returns.
• Director Details: Current list of directors with their identification numbers (DIN).
• Auditor Reports: Audit reports and financial statements duly approved.
• Previous Year Filings: Reference copies of the last filed AOC-4 and MGT-7 to ensure consistency.

Checklist for Filing AOC-4 (Financial Statements)

Purpose: Filing financial statements, along with the Board’s Report and other mandatory documents.

1. Documents to Be Prepared

• Balance Sheet and Profit & Loss Account: Audited for the financial year.
• Cash Flow Statement: For companies requiring it (e.g., listed companies).
• Notes to Financial Statements: Complete disclosures and schedules.
• Board’s Report: As per Section 134 of the Companies Act, 2013.
• Auditor’s Report: Signed and approved by the statutory auditor.
• Corporate Social Responsibility (CSR) Report: If applicable.
• Details of Subsidiaries or Associates: Financial statements and consolidated accounts, if applicable.

2. Key Points for Filling AOC-4

• CIN (Corporate Identification Number): Ensure accurate input.
• Date of AGM: Mention the AGM date when the financials were approved.
• SRN of Previous Forms: Keep track of past filings to reference continuity.
• Signing Authority: Certified by directors and auditors.
• Additional Disclosures: Include specific details such as related party transactions, contingent liabilities, and non-compliance, if any.

3. Digital Signature Certificate (DSC)

• Required for: Directors and the auditor certifying the form.
• Ensure the DSC is valid and updated.

4. Filing Fees and Late Penalty

• Filing Fee: Based on the company’s share capital.
• Late Penalty: ₹100 per day of delay.

Checklist for Filing MGT-7 (Annual Return)

Purpose: Filing the annual return, reflecting the company’s operational status and compliance.

1. Information Required

• Company Details:
  • Corporate Identification Number (CIN).
  • Registered office address and email ID.
  • Principal Business Activities (NIC codes).
• Shareholding Structure:
  • List of shareholders.
  • Changes in shareholding during the year.
• Director and Key Managerial Personnel (KMP) Details:
  • Names, DINs, and designations.
  • Any changes in directorship or KMPs during the financial year.
• Debts and Liabilities:
  • Secured and unsecured loans.
• Meetings:
  • Details of Board, AGM, and other meetings conducted.
• Compliance Certificates:
  • Declaration regarding proper maintenance of records under the Act.

2. Key Points for Filling MGT-7

• Accurate Data: Verify every shareholder’s details and holdings.
• Certification: Required by the Company Secretary (CS) or director (if no CS is appointed).
• Share Capital Changes: Document all allotments, transfers, or buybacks.
• Penalty Details: Disclose penalties or compounding of offenses, if applicable.

3. Digital Signature Certificate (DSC)

• Required for the Director and a practicing Company Secretary, if applicable.

4. Filing Fees and Late Penalty

• Filing Fee: Varies based on company type.
• Late Penalty: ₹100 per day of delay.

Key Deadlines for Filing AOC-4 and MGT-7

1. AOC-4 Filing Deadline

Deadline: Within 30 days of the Annual General Meeting (AGM).
The AOC-4 form is used to file the financial statements of a company with the Registrar of Companies (ROC). After the Annual General Meeting (AGM) is held, the company has 30 days to submit this form.

Example:

• Suppose a company’s AGM is held on 30th September 2024.
• The financial statements, including the Balance Sheet, Profit & Loss Statement, and Auditor’s Report, are approved during this meeting.
• The deadline to file AOC-4 would be 30th October 2024 (30 days from the AGM date).

This filing includes details about the company’s financial performance and must be certified by the Board of Directors and the company’s auditors.

2. MGT-7 Filing Deadline

Deadline: Within 60 days of the Annual General Meeting (AGM).
The MGT-7 form is the annual return of the company, reflecting its operational details, shareholding structure, directors, and more. After the AGM, the company has 60 days to submit this form to the ROC.

Example:

• Continuing with the same example where the company’s AGM is held on 30th September 2024:
  • The company must file the MGT-7 (Annual Return) by 29th November 2024 (60 days from the AGM date).

This filing includes details such as:

• Changes in the shareholding pattern.
• List of directors.
• Compliance with various provisions of the Companies Act, 2013.

Importance of Timely Filing:

• AOC-4 ensures the company’s financial performance is made public and is available for transparency and scrutiny.
• MGT-7 ensures regulatory compliance by providing the ROC with an update on the company’s governance and shareholder structure.

Consequences of Missing Deadlines:

• AOC-4: Late filing results in a penalty of ₹100 per day of delay.
• MGT-7: Similarly, late filing of MGT-7 attracts a penalty of ₹100 per day of delay.

If a company misses the deadline for these filings, not only does it incur penalties, but it could also face potential legal consequences, including disqualification of directors and difficulty in obtaining approvals for future transactions.

Common Mistakes to Avoid

1. Mismatch in Financials: Ensure figures in AOC-4 match with audited financials.
2. Incorrect Shareholding Data: Cross-check changes and ensure they align with ROC records.
3. Invalid DSCs: Update expired DSCs before starting the process.
4. Missed Disclosures: Include all mandatory disclosures, such as CSR activities, if applicable.
5. Non-Compliance with Deadlines: Late filings incur significant penalties.

Helpful Tips

• Regularly update company records throughout the year to avoid last-minute rush.
• Use MCA’s Pre-fill feature to auto-fetch company details for accuracy.
• Consult a professional if unsure about any section.

By adhering to this checklist, companies can ensure seamless compliance with their annual filing obligations.

Annual Filing Checklist for AOC-4 and MGT-7

Annual Filing Checklist: When filing the AOC-4 (Financial Statements) and MGT-7 (Annual Return) forms, it’s essential to have the following information ready to ensure compliance with the Companies Act, 2013. The checklist below includes essential points that must be filled in both forms:

1. PAN of Auditor

• Required in: AOC-4 (for financial statements)
• Purpose: The Permanent Account Number (PAN) of the auditor must be provided in the AOC-4 form as part of the company’s financial disclosures.
• Example: PAN number of the statutory auditor.

2. Address of Auditor

• Required in: AOC-4
• Purpose: The address of the auditor’s office (either the individual or the firm) needs to be mentioned in the form.
• Example:
  • Name of the auditor: XYZ & Co.
  • Address: 123, Audit Lane, New Delhi, 110001.

3. Name and Membership Number of Auditor

• Required in: AOC-4
• Purpose: The name and membership number of the auditor, registered with the Institute of Chartered Accountants of India (ICAI), must be provided.
• Example:
  • Auditor’s Name: Mr. A. B. Sharma
  • Membership No.: 123456
• This ensures the auditor’s professional credentials are recognized and verifiable.

4. ADT-1 SRN (Special Resolution Number)

• Required in: AOC-4
• Purpose: If the auditor is appointed by a special resolution, the SRN (Special Resolution Number) filed with ADT-1 should be mentioned. This is required for companies changing their auditor or reappointing them via a special resolution.
• Example:
  • ADT-1 SRN: SRN A12345
  • Date of filing: 01/07/2024
  • This number corresponds to the SRN assigned during the filing of the auditor’s appointment (via ADT-1).

5. Place Where Books of Accounts are Maintained

• Required in: AOC-4
• Purpose: Companies are required to disclose the place where their books of accounts are maintained. This is critical for regulatory purposes, and it must be an address within India.
• Example:
  • Books of Accounts maintained at: Registered Office Address
  • Address: 456, Corporate Park, Mumbai, Maharashtra 400001.

6. Main Object Clause of Company

• Required in: MGT-7
• Purpose: The Main Object Clause defines the primary business activities of the company, as per the Memorandum of Association (MOA). This is required to be mentioned in the MGT-7 filing.
• Example:
  • Main Object: To manufacture and sell electric vehicles (EVs) and related components.
  • The object should be precise and consistent with the company’s actual operations.

7. Details of Foreign Exchange Transactions (Forex Transactions)

• Required in: AOC-4 (if applicable)
• Purpose: Companies must disclose any foreign exchange transactions (foreign income/expenses, foreign investments, etc.) as part of financial statements. If no forex transactions occurred, this should be stated.
• Example:
  • Forex Transactions: Sale of goods to clients in the US (USD 100,000).
  • No Forex Transactions: If no such transactions exist, mention “Nil”.

8. Website Address or Phone Number of Company

• Required in: MGT-7
• Purpose: The website URL or phone number of the company is a mandatory part of the MGT-7 filing. It provides a way for stakeholders and authorities to contact the company.
• Example:
  • Website: www.xyzcompany.com
  • Phone Number: +91-9876543210

Summary Checklist for AOC-4 and MGT-7

1. AOC-4:
   • PAN of the Auditor
   • Address of Auditor
   • Name and Membership Number of Auditor
   • ADT-1 SRN (Special Resolution Number, if applicable)
   • Place Where Books of Accounts are Maintained
   • Details of Forex Transactions (if any)
2. MGT-7:
   • Main Object Clause of the Company
   • Website Address or Phone Number of the Company

Additional Important Points for Filing

• Digital Signature Certificates (DSC): Ensure that the signatures of directors, the company secretary (if applicable), and the auditor are digitally signed and valid.
• Company Secretary: The MGT-7 form should be signed by a practicing company secretary (if applicable).
• Filing Fees: Check the filing fee based on your company’s authorized capital.

By ensuring all these details are accurately filled, the annual filing process can be completed smoothly, avoiding penalties and ensuring compliance with legal requirements.