New Disclosure Requirements For Limited Liability Partnerships And Partners

The Ministry of Corporate Affairs (MCA) has notified the Limited Liability Partnership (Third Amendment) Rules, 2023 (Amended Rules) aimed at strengthening the disclosure norms in terms of beneficial interests in a Limited Liability Partnership (LLPs). The Amended Rules are effective from 27 October 2023 (Effective Date). The key compliances under the Amended Rules include:

1. Register of Partners: LLPs are required to maintain a register of partners in Form 4A at the registered office of the LLP (ROP). The register of partners must record details including the name, address, permanent account number card details, amount and nature of contribution and other details as mentioned under the Amended Rules.