Bisways - Consulting Group

Introduction

Every company registered under the Companies Act, 2013 — whether a private limited company, public company, or OPC — must complete annual ROC filings to maintain active compliance status.

Two of the most important filings are Form AOC-4 and Form MGT-7, which together cover the company’s financial statements and annual return.

This guide by Bisways Consulting Group explains what these forms contain, who should file them, due dates, filing requirements, and the step-by-step process to ensure seamless and penalty-free compliance.

What Is Form AOC-4?

Form AOC-4 is filed each year to submit a company’s financial statements to the Ministry of Corporate Affairs.

It includes:

Balance Sheet
Profit & Loss Statement
Cash Flow Statement (if applicable)
Notes to Accounts
Auditor’s Report
Board’s Report

AOC-4 ensures that a company’s financial information is transparently reported and available in the public domain.

Due Date:Within 30 days from the date of AGM for most companies. For OPCs: Within 180 days of financial year end.

What Is Form MGT-7?

Form MGT-7 (or MGT-7A for OPCs) contains the annual return of the company.

It reports key details such as:

Company structure
Directors and KMP
Shareholding pattern
Meetings held during the year
Loans, investments, and related transactions
Share capital changes

Due Date:Within 60 days from the date of AGM.

Who Must File AOC-4 and MGT-7?

These filings are mandatory for:

Private Limited Companies
Public Limited Companies
One Person Companies (OPCs)
Section 8 Companies
Small Companies
Companies with no turnover or dormant status

Non-filing attracts daily penalties, so timely filing is essential.

Documents Required for Filing

For AOC-4

Audited financial statements
Board’s Report
Auditor’s Report
AGM minutes (if applicable)
Notes to accounts
CSR Report (for eligible companies)

For MGT-7

Shareholding details
Registers of members & transfers
Loan & investment particulars
Meeting details (AGM/Board)
MGT-8 (if certification is required)

Step-by-Step Filing Process for AOC-4

1. Conduct Board Meeting for Approval

The Board approves financial statements and authorises their filing.

2. Conduct AGM

Members adopt the financial statements.

3. Compile Financial Documents

Balance sheet, P&L, notes, board report, audit report, etc.

4. Prepare and Validate AOC-4

Use the MCA offline tool or web-based form to enter details.

5. Attach Required Documents

Upload reports and statements in PDF format.

6. Pay Filing Fees

Fees depend on authorised capital.

7. Submit on MCA Portal

Once validated, sign using DSC and upload.

Step-by-Step Filing Process for MGT-7

1. Gather Annual Return Details

Director lists, shareholding, meetings, loans, etc.

2. Fill MGT-7 Form

Enter company, shareholder, and governance data.

3. Attach Required Certificates

For large companies, attach MGT-8 certification.

4. Validate the Form

Run pre-scrutiny to ensure accuracy.

5. Digitally Sign & Upload

Director and company secretary affix DSC.

Penalties for Late Filing

MCA imposes ₹100 per day per form, with no upper limit.

Both AOC-4 and MGT-7 attract heavy fines for delayed filing.

Additional consequences:

Company marked as non-compliant
Directors may face disqualification for prolonged non-filing
Difficulty in raising loans or opening bank accounts

Common Mistakes to Avoid

Not matching financials with books of accounts
Wrong shareholding data
Missing AGM documentation
Uploading unsigned or incorrect attachments
Incorrect CIN, dates, or capital details
Filing AOC-4 before audit completion

A professional review eliminates most filing errors.

Why These Filings Matter

Maintains corporate transparency
Ensures statutory compliance
Helps in due diligence and investor review
Avoids penalties and legal complications
Acts as proof of business activity and governance