Introduction
A Limited Liability Partnership is one in which some or all of the partners are limited in their liability. It can display the features of the partnerships and businesses. In LLP each partner is not responsible or liable for the misbehavior or carelessness of another partner.
Form 5 Limited Liability Partnerships
There may be a reason for a name change in a Limited Liability Partnership, like consent of the partners, branding, merger, change in a business object, and others. The Central Government could issue an order for Limited Liability Partnership name modification under the LLP Act, 2008. Form 5 of LLP which LLP Partners need for the LLP name change notice. Form 5 is required to be submitted online using the Digital Signature Certificate of the designated partner.
The information included in LLP Form 5
The LLP Form 5 is available on the MCA website. It contains the information which is following:
A number of LLP Registrations.
Address of an LLP
Reserve Unique Name Form SRN Number Reason For LLP Name Change
LLP name change owing to an agreement or Central Government order or assent of partners.
SRN of Form 3.
Professional Certificate from CA or CS or CMA.
Designated Partner Identification Number of Signing Partner.
Reserve Unique Name for Form 5 LLP
Reserve Unique Name which is the application form for reserving the name of a Limited Liability Partnership. LLP could issue up to two proposed LLP names in the RUN Form. The RUN Form does not require the use of a Digital Signature Certificate. The firm will receive the SRN number once the Reserve Unique Name form has been accepted. The identical SRN number must be written in the LLP Form 5. The name that has been accepted by MCA will be auto-prefilled and placed into the form.
Digital Signature Certificate for Partners in LLP
In order to modify the name of Limited Liability Partnership must approve a resolution enabling one of the partners to act on behalf of the other half of the LLP. The Designated Partner’s digital signature is required for filing Form 5. Mention the Designated Partner Identification Number and the partner’s Digital Signature Certificate.
Documents required for filing Form 5 of Limited Liability Partnership
The needed document in Form 5 of LLP given mentioned below:-
A copy of the minutes of the partners’ decisions or resolutions or consent.
If applicable, extracts from the related section of the LLP Agreement.
If there is a need for the central government or registrar’s order.
Optional extra attachment if requires.
Process for Filing LLP Form 5
Go to the MCA portal.
Get access to the MCA Form 5 of LLP from the search bar.
Login with valid accreditation to access Form 5 of LLP.
Enter Limited Liability Partnership Information.
Search option for LLPIN.
Select and Fill up the application.
Save and Submit the Form.
Once the SRN form is generated then you will submit it.
Upload the DSC-affixed pdf document on the MCA Portal.
The SRN will be terminated if the user does not successfully upload then the DSC affixed PDF within 15 days of SRN generation and complete payment within 7 days of successful upload of the Digital Signature Certificate affixed document or due date of filing of the form + 2 days, whichever comes first.
An acknowledgment message is generated.
Attach the Digital Signature Certificate.
Conclusion
It concluded that Form 5 of LLP is needed by LLP Partners for the LLP name change notice. Form 5 is required to be submitted online using the Digital Signature Certificate of the designated partner. The Central Government could issue an order for Limited Liability Partnership name modification under the LLP Act, 2008. MCA provides the approval of the new name and confirms the availability of the name, a notice of change in form 5 can be filed with the ROC within 30 days of receiving it. Certified proof of the Partners’ Consent provides for the LLP’s New Name to be approved.
Author:
Leave a Comment
Previous Comments