Modification of Partner Personal Details in LLP

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Basic Plan

₹ 2,999
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  • Consultation on Appointment Process
  • Preparation of Consent Documents for New Partner
  • Filing of Form 4 for Partner Addition

Standard Plan

₹ 5,499
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  • DPIN of Incoming Partner
  • Digital Signature Certificate (DSC) for the new partner
  • LLP Amendment Agreement Drafting
  • Filing of Form 3 for LLP agreement Amendment

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  • Dedicated Account Manager
  • Compliance Calendar for New Partner
  • Assistance in updating GST, PT, ESI, PF Records

Overview

In any Limited Liability Partnership (LLP), partners’ personal details may need to be updated due to changes such as a new address, contact details, name correction, or any other personal information updates. Keeping these details accurate and up to date is crucial for compliance with the Ministry of Corporate Affairs (MCA) and maintaining transparency in business operations.

This guide covers everything you need to know about modifying partner personal details in an LLP, including the process, required documents, legal implications, and frequently asked questions.

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Process to Modify Partner Personal Details in an LLP

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Before initiating the modification, ensure all partners consent to the changes in writing. This can be done via a resolution passed in a partner’s meeting.

The following documents are typically required:
For Name Change:

      • A certified copy of the legal document supporting the name change (e.g., Gazette notification, marriage certificate, affidavit)
      • PAN card with the updated name

For Address Change:

      • Updated address proof (Aadhaar card, utility bill, rent agreement, etc.)
      • Declaration of change of address signed by the partner

For Contact/Email ID Change:

      • Updated contact details and an undertaking from the partner confirming the change
  • Log in to the MCA portal
  • Fill out Form LLP-4 with updated details
  • Attach the necessary supporting documents
  • Get the form digitally signed by a Designated Partner using a DSC (Digital Signature Certificate)

If the LLP agreement contains specific details about the partner’s address or other personal details, an amendment agreement must be prepared and filed using Form LLP-3.

Submit the required government fees based on LLP’s capital structure and form type.

Once filed, the Registrar of Companies (ROC) will review the application. Upon approval, the updated details will be reflected in LLP records.

Note: Need to Update

Need to Update of Partner Resignation on the LLP

How Long Does the Process Take

  • Processing Time: 5-10 business days (subject to ROC approval)
  • Government Fees: Fees vary depending on LLP’s contribution amount.

Consequences of Not Updating Personal Details

Non-compliance can result in:

      • Penalties imposed by the ROC
      • Discrepancies in legal documents and tax records
      • Difficulties in banking transactions and other official matters
      • Potential rejection of filings due to outdated details

Frequently Asked Questions

What does modifying partner details in an LLP entail?

It involves updating the records of the LLP to reflect changes in the partners' personal information, such as changes in address, name due to marriage or other reasons, or changes in their role or responsibilities within the LLP.

Who can initiate modifications to partner details?

Any designated partner or authorized representative of the LLP can initiate modifications to partner details. The changes must be agreed upon by the partners as per the LLP agreement.

What are the common reasons for modifying partner details?

Common reasons include changes in residential address, contact details, name changes due to personal reasons, or changes in the share of profits/liabilities as agreed among partners.

How do you modify partner details in an LLP?

To modify partner details, you need to file the prescribed form (Form 4) with the Registrar of Companies (RoC) along with the required documents and applicable fee.

What documents are needed to modify partner details?

Documents typically required include proof of any name change (marriage certificate, legal name change documentation), proof of new address, and revised LLP agreement if there are changes in rights and responsibilities.

Is there a fee associated with modifying partner details?

Yes, there is typically a filing fee associated with submitting changes in partner details to the Registrar of Companies. The exact fee can vary based on jurisdiction.

What is the timeline for reporting changes in partner details to the Registrar?

Changes in partner details must be reported within 30 days of the change to avoid penalties and ensure compliance with regulatory requirements.

Can modifications to partner details affect the LLP agreement?

Yes, if changes involve adjustments in partnership rights, responsibilities, or profit-sharing, the LLP agreement may need to be amended and refiled with the changes.

What happens if partner details are not updated in a timely manner?

Failure to update partner details can lead to compliance issues, inaccuracies in official communications, and potential legal and financial liabilities for the LLP.

How can partners ensure compliance when modifying details?

Partners should maintain clear records of all changes, ensure mutual agreement on any changes affecting the LLP operation, and timely file all necessary forms and documents with the Registrar.