Form 8 Statement of Account and Solvency
Introduction
LLP Form 8, also known as the Statement of Account and Solvency, is part of the annual compliance filing for a Limited Liability Partnership.
The intention to file the Form 8 is to declare the financial position of the LLP to the ROC. As it is important for any business that it should be financially sound and capable to pay its debt or liabilities
Regulations Governing Form 8 filing
Form 8 is governed by the provisions of Section 34(2) and 34(3) of The Limited Liability Partnership Act, 2008, in conjunction with Rule 24 of The Limited Liability Partnership Rules, 2009
Due Date of filing Form 8
The due date for filing Form 8 is 30th October of each financial year.
Who needs to file Form 8 ?
It applies to all LLPs and must be filed with the Ministry of Corporate Affairs (MCA).
Regardless of their turnover, all LLPs registered in India under the RoC must file Form 8 with the MCA.
LLP can file its first financial return for a period of 18 months.
For example – If an LLP is incorporated after the 1st of October of the current year that is say 1 October 2025, then the LLP can file returns in the coming March that is 31 March 2026 or next March that is 31 March 2027.
Components of Form 8
Form 8 is divided into two sections, each critical in the LLP’s financial reporting and compliance. Form 8 comprises two main parts
Part – A – Statement of Solvency
In this Section, the LLP declares its Solvency, confirming its ability to meet its financial obligations as they become due in the normal course of business. If there are any signs of Insolvency, they should be disclosed here.
Part-B-Statement of Accounts, Statement of Income & Expenditure
This part provides detailed financial information about the LLP including its balance sheet, statement of profit and loss (income and expenditure statement) and any changes in financial position.
How to file Form 8?
The form will be available in MCA V3 version . Refer Instruction Kit_LLP Form No. 8 given by MCA for details on filing.
Details Required for Filing Form 8
The following details are required for filling Form 8:
- LLP Name and LLPIN (Limited Liability Partnership Identification Number)
- Financial statements, including assets, liabilities, income, and expenditure (if applicable)
- Details of any charges on assets (if any)
- Solvency declaration by designated partners (mandatory)
- Form 8 needs to be digitally signed by a minimum of two Designated Partners of LLP or Authorized Representatives of Foreign LLP.
- If the total turnover of the LLP is more than 40 Lakhs or Partners Contribution is more than 25 Lakhs then Form 8 must be certified by a Chartered Accountant / Company Secretary.
- There is no option to amend Form8 once it gets furnished. Thus, much more care should be adopted during the filing of LLP Form 8
Attachments Required with LLP Form 8
- Disclosure under Micro, Small and Medium Enterprises (MSME) Development Act, 2006 (Mandatory)
- Statement of contingent liabilities not provided for, (if any)
Filing Fee for Form 8
Normal Fee :
Contribution | Filing Fee |
Up to ₹1 lakh | ₹50 |
Above ₹1 lakh and up to ₹5 lakhs | ₹100 |
Above ₹5 lakhs and up to ₹10 lakhs | ₹150 |
Above ₹10 lakhs
| ₹200 |
For the foreign limited liability partnership, the filing fee of Form 8 is Rs. 1000 irrespective of the contribution.
Additional Fee :
Period of Delay | Additional Fee for Small LLP * | Additional Fee for Other LLP |
Up to 15 days
| 1 times the normal fee | 1 times the normal fee |
15 to 30 days
| 2 times the normal fee | 4 times the normal fee |
30 to 60 days
| 4 times the normal fee | 8 times the normal fee |
60 to 90 days
| 6 times the normal fee | 12 times the normal fee |
90 to 180 days
| 10 times the normal fee | 20 times the normal fee |
Above 180 days | ₹100 per day | ₹200 per day |
*An LLP is considered a Small LLP if it meets the following conditions:
- Contribution does not exceed ₹25 lakh (can be increased up to ₹5 crore by the government).
- Turnover does not exceed ₹40 lakh (can be increased up to ₹50 crore by the government).
Consequences of Non-Compliance
The penalties for non-filing of LLP compliance forms, including Form 8 (Statement of Account & Solvency) and Form 11 (Annual Return), are as follows:
1. Late Filing Penalty for LLP Forms
- ₹100 per day for each form until it is filed.
- No upper limit on the penalty, meaning the longer the delay, the higher the fine.
2. Consequences of Continued Non-Compliance
- The LLP and its designated partners may face legal action.
- The Registrar of Companies (RoC) may strike off the LLP from records.
- Designated partners may be disqualified from forming new LLPs or companies.
3. Additional Penalties for Serious Defaults
- If an LLP fails to maintain financial records or submit statements, penalties can go up to:
- LLP: ₹25,000 to ₹5,00,000
- Partners: ₹10,000 to ₹1,00,000 each
