Overview
Annual compliance for a One Person Company refers to the mandatory yearly filings and statutory requirements that an OPC must complete under the Companies Act, 2013. Although an OPC has only one member and simplified governance structure, it is still treated as a company and must comply with provisions applicable to private limited companies, subject to certain relaxations.
Every OPC registered with the Ministry of Corporate Affairs is required to maintain proper books of accounts, prepare financial statements, and file annual returns with the Registrar of Companies. Unlike other companies, OPC is not required to hold an Annual General Meeting. However, financial statements must be approved by the sole member and recorded in the minute book.
The annual filing mainly includes submission of financial statements in Form AOC 4 and annual return in Form MGT 7A. In addition to this, the director must complete DIR 3 KYC annually if applicable. If the OPC has received loans or advances not considered as deposits, Form DPT 3 may also be required. Income tax return filing and GST compliance must also be completed separately. Non compliance may result in penalties, additional filing fees, and possible legal consequences.
Bizglobal provides complete support for annual compliance of OPCs. We prepare financial statements, draft necessary resolutions, coordinate audit if applicable, and file AOC 4 and MGT 7A with ROC within due dates. Our team ensures that your OPC remains compliant, penalty free, and legally active while you focus on growing your business.
