Annual Compliances for One Person Company (OPC)
One Person Company Annual Compliance under the Companies Act, 2013
Overview of One Person Company (OPC) Compliance
A One Person Company (OPC) is a special form of business structure introduced under the Companies Act, 2013 to support solo entrepreneurs with the benefit of limited liability and a separate legal identity. Although OPCs enjoy certain exemptions compared to private and public companies, they must comply with prescribed statutory requirements to remain legally active.
OPC annual compliances mainly include Board Meeting requirements, appointment and continuation of Statutory Auditors, maintenance of proper books of accounts, and timely filing of annual returns with the Registrar of Companies (RoC). Failure to comply may attract penalties and legal consequences.
Board Meeting Requirement (Section 173(5))
Mandatory Board Meetings
As per Section 173(5) of the Companies Act, 2013, a One Person Company is required to conduct a minimum number of Board Meetings to ensure statutory compliance and proper governance.
- One Board Meeting must be held between January to June.
- One Board Meeting must be held between July to December.
- The minimum gap between the two Board Meetings must be not less than 90 days.
Exemption: If the OPC has only one Director, the requirement of holding Board Meetings does not apply.
Annual General Meeting & Statutory Auditor
Appointment of Statutory Auditor (Section 139(1))
Although a One Person Company is exempted from holding a conventional Annual General Meeting (AGM), the appointment of a Statutory Auditor is mandatory under Section 139(1) of the Companies Act, 2013.
- The Statutory Auditor is appointed at the first AGM or through written resolution.
- The auditor holds office from the conclusion of the First AGM till the conclusion of the Sixth AGM, completing a tenure of five consecutive years.
Note: OPCs are mandatorily required to file AOC-4 (Financial Statements) and **MGT-7A** (Annual Return for OPC/Small Companies) with the Registrar of Companies within prescribed timelines.
Simple & Transparent Pricing for Annual Compliance Opc
Scale your features as your business grows. Find the plan that fits your needs today.
Basic Plan
Every month payment option Available
- Turnover less than 30 lakhs
- AOC-4 financial statement and other documents
- MGT-7 (annual return)
- ADT-1 if applicable
- INC-20A if applicable
- Board resolution preparation
- GST filing including GST 9
- Income Tax filing of OPC
- Book-Keeping and Accounting are not part of this package
Standard Plan
Every month payment option Available
- Turnover less than 80 lakhs
- AOC-4 financial statement and other documents
- MGT-7 (annual return)
- ADT-1 if applicable
- INC-20A if applicable
- Board resolution preparation
- GST filing including GST 9
- Income Tax filing of OPC
- Assistance & filing of audit report
- Book-Keeping and Accounting are not part of this package
Premium Plan
Every month payment option Available
- Turnover less than 100 lakhs
- AOC-4 financial statement and other documents
- MGT-7 (annual return)
- ADT-1 if applicable
- INC-20A if applicable
- Board resolution preparation
- GST filing including GST 9
- Income Tax filing of OPC
- Assistance & filing of audit report
- Book-Keeping and Accounting are not part of this package
FAQ's on Annual Compliances For OPC
Your Questions Answered
Which are the two main annual ROC forms for an OPC?
An OPC must file two main forms with the Registrar of Companies (ROC): Form AOC-4 (for filing Financial Statements) and Form MGT-7A (the simplified Annual Return for OPCs and Small Companies).
Is an OPC required to hold an Annual General Meeting (AGM)?
No. A major exemption for OPCs is that they are not required to hold an Annual General Meeting (AGM). The sole member simply communicates the annual resolutions and enters them in the Minutes Book.
What is the due date for filing Financial Statements (Form AOC-4)?
The due date for filing Form AOC-4 for an OPC is within 180 days from the end of the financial year (i.e., typically by September 27th). This extended deadline is possible because no AGM is required.
What is the due date for filing the Annual Return (Form MGT-7A)?
Form MGT-7A must be filed with the ROC within 60 days from the date the Financial Statements (AOC-4) were approved by the Director (which is considered the deemed date of the meeting). This also falls within the 180-day window.
Is a Statutory Audit mandatory for every OPC?
A Statutory Audit is mandatory for an OPC if its paid-up capital exceeds ₹50 Lakh OR its annual turnover exceeds ₹2 Crore in the preceding financial year. Otherwise, the audit is optional.
What are the Board Meeting requirements for an OPC?
An OPC is required to hold a minimum of one Board Meeting in each half of the calendar year, with a gap of at least 90 days between the two meetings. If the company has only one director, a written resolution signed by the director is sufficient.
Is ITR filing mandatory for an OPC?
Yes. Like all other companies, an OPC must compulsorily file its Income Tax Return using Form ITR-6 every year, regardless of whether it earned a profit or incurred a loss. The typical due date for ITR-6 for a non-audited OPC is October 31st (if the audit is required, the date is the same).
What is the penalty for late filing of annual forms?
Failure to file the mandatory forms (AOC-4 and MGT-7A) results in a hefty additional fee of ₹100 per day of delay for each form. Persistent non-compliance can also lead to the disqualification of the Director.
