One Person Company (OPC) has emerged as a popular business structure in India, especially among solo entrepreneurs who want the benefits of a corporate entity without the complications of a traditional Private Limited Company. While OPCs enjoy several compliance relaxations compared to other companies, they are still required to follow key annual filing obligations to remain in good legal standing.
What is OPC Annual Return Filing?
OPC annual return filing refers to the yearly process of submitting specific documents to the Ministry of Corporate Affairs (MCA) as mandated under the Companies Act, 2013. These filings ensure that the company’s financial and operational information is made available to the government.
Despite being a one-person company, an OPC must adhere to compliance norms similar to those applicable to Private Limited Companies, including the filing of financial statements and annual returns within the prescribed timelines.
Mandatory Forms for OPC Annual Filing
Here are the main forms required for annual filing by an OPC:
Form AOC-4:
This form is used to file the financial statements, including the balance sheet and profit & loss account. The due date is within 180 days from the end of the financial year.Form MGT-7A:
OPCs are required to file Form MGT-7A (a simplified version of MGT-7) for submitting their annual return. This must be filed within 60 days from the date of the Annual General Meeting (AGM), though OPCs are exempt from holding an AGM.Form DIR-3 KYC:
Every director of the OPC must file a Director KYC form annually to keep their details updated in MCA records.Form DPT-3:
If the OPC has accepted loans or deposits during the year, even from directors, this form is required to be filed.
Why is Annual Return Filing Important for OPCs?
Filing annual returns is not just a legal obligation but also a good business practice. Here’s why it matters:
Legal Compliance: Timely filing avoids penalties and legal notices from the MCA.
Transparency: Provides a clear picture of the company’s financials to stakeholders.
Funding & Loans: Compliant companies are more likely to get approvals from banks and investors.
Director Credibility: Ensures that the company’s sole director remains in good standing with regulatory authorities.
Penalties for Non-Compliance
Failing to file annual returns on time can lead to:
A penalty of ₹100 per day per form until the default is rectified.
Disqualification of the director in case of continued non-compliance.
Additional penalties imposed by the MCA, which can significantly increase the cost burden.
How Ebizfiling Can Help
At ebizfiling, we specialize in helping entrepreneurs and small businesses stay compliant without hassle. Our expert team manages your OPC annual return filing process from start to finish, ensuring accuracy, timely submission, and complete peace of mind. Here's how we support you:
Document preparation & filing by professionals
Compliance reminders so you never miss a due date
Transparent pricing with no hidden charges
Dedicated account managers for personalized support
Whether you are filing for the first time or need help catching up with delayed returns, ebizfiling is here to guide you through every step.
Conclusion
Annual return filing is a crucial compliance requirement for every OPC. Missing deadlines can lead to financial penalties and unnecessary complications. By staying proactive and organized, and with the right professional help from ebizfiling, you can ensure that your OPC remains compliant and focused on growth. Don’t let paperwork slow you down—let compliance be your business strength.
