Annual Compliances for One Person Company (OPC)
Complete OPC annual compliance management — MGT-7A, AOC-4, board meetings, mandatory conversion tracking, and ROC filings handled by experts. Stay compliant and avoid director disqualification.
4.9/5 Google Reviews
2,450+ Verified Users
Excellent Trustpilot
TrustScore 4.8
1.2k+ Reviews
Top Legal Firm 2024
5.0/5 Clutch Rating
Get Free Consultation
Fill the form and our experts will call you.
What are Annual Compliances for a One Person Company?
A One Person Company (OPC) incorporated under Section 2(62) of the Companies Act, 2013 must comply with annual filing obligations similar to a Private Limited Company, though with certain relaxations. OPCs must file Form MGT-7A (simplified Annual Return) and Form AOC-4 (Financial Statements) with the Registrar of Companies each year. Unlike other companies, OPCs are required to hold only 2 Board Meetings per year with a gap of at least 90 days between them. Critically, an OPC is mandatorily required to convert into a Private Limited Company once its paid-up share capital exceeds ₹50 lakh or its average annual turnover for the preceding 3 financial years exceeds ₹2 crore. The conversion must be completed within 6 months of crossing the threshold. Failure to comply attracts penalties under Section 122 of the Act.
Google Reviews
4.5/5
20k+ Happy Reviews
Voted No. 1
In India Legal Services
Trustpilot
4.5/5
7500+ Happy Reviews
Key Annual Compliance Obligations for OPC
MGT-7A — Simplified Annual Return
OPCs file the simplified MGT-7A form (instead of MGT-7) within 60 days of the end of the financial year. Requires details of director and nominee.
AOC-4 — Financial Statements
File audited Balance Sheet and Profit & Loss in Form AOC-4 within 180 days from the end of financial year (by 27 September).
Board Meetings — Minimum 2
Minimum 2 Board Meetings per year with at least 90 days gap between meetings. Minutes must be recorded and maintained.
Mandatory Conversion Monitoring
Track turnover and paid-up capital thresholds. Mandatory conversion to Pvt. Ltd. within 6 months of exceeding ₹2Cr turnover or ₹50L capital.
Eligibility & Requirements
How to Complete Annual Compliances for OPC
OPC compliance is simpler than a standard Pvt. Ltd. but equally mandatory. Our team handles all filings accurately and on time.
1Step 1: Accounts Preparation & Audit
Prepare financial statements for the year ending 31 March. Appointment of Statutory Auditor is mandatory even for OPCs.
2Step 2: Hold Board Meetings (Min. 2)
Conduct at least 2 Board Meetings during the year. Record and maintain minutes. Adopt financial statements at a board meeting.
3Step 3: File AOC-4
Submit audited financial statements in Form AOC-4 within 180 days from the end of financial year, i.e., by 27 September.
4Step 4: File MGT-7A
Submit simplified Annual Return in Form MGT-7A within 60 days from the end of the financial year, i.e., by 29 May.
We also monitor your OPC turnover and capital to alert you well before mandatory conversion thresholds are crossed.
Documents Required
Company Documents
- Certificate of Incorporation
- MOA and AOA of the OPC
- PAN Card of the company
Financial Documents
- Audited Balance Sheet and P&L Account
- Auditor Report
- Bank statements for the year
Director Documents
- PAN and Aadhaar of Director
- DIN Certificate and DIR-3 KYC status
- Nominee details and INC-3 consent
Post-Registration Compliance
Conversion to Pvt. Ltd. on Threshold Breach
Once turnover exceeds ₹2 crore or paid-up capital exceeds ₹50 lakh, the OPC must mandatorily convert to a Private Limited Company within 6 months.
Income Tax Return — ITR-6
OPCs must file ITR-6 as they are taxed as a company at the applicable corporate tax rate.
DIR-3 KYC for Director
The sole director must file DIR-3 KYC annually by 30 September to prevent DIN deactivation.
GST Compliance
File monthly/quarterly GST returns (GSTR-1, GSTR-3B) if registered under GST. GSTR-9 annual return due by 31 December.
Common Questions
Everything you need to know
Ready to Open Your Door to Success?
Schedule a free consultation today and discover how Legal Door can help you achieve your legal objectives.