What is OPC Compliance?
A One Person Company (OPC) registered under the Companies Act, 2013 must fulfill annual compliance obligations with the Registrar of Companies (ROC) and the Income Tax Department. All OPCs must submit financial statements (AOC-4) and an annual return (MGT-7A) annually, regardless of revenue or operational status.
Non-compliance attracts a penalty of ₹100 per day per form with no maximum cap, and can lead to director disqualification and company strike-off.
Annual Filing Obligations for OPC
| Form | Purpose | Due Date |
|---|
| AOC-4 | Financial Statements (Balance Sheet, P&L, Directors' Report) | Within 180 days of financial year end (typically Sept 27) |
| MGT-7A | Annual Return (simplified version for OPC) | Within 60 days of signing financial statements |
| DIR-3 KYC | Director KYC — keeps DIN active | September 30 annually |
| DPT-3 | Return of outstanding loans/deposits | June 30 annually |
| ITR-6 | Company Income Tax Return | October 31 annually |
| ADT-1 | Auditor Appointment Intimation | Within 30 days of incorporation (first) / 15 days of AGM |
OPC-Specific Exemptions
OPCs enjoy several relaxations compared to regular private companies:
| Requirement | Regular Private Company | OPC |
|---|
| Annual General Meeting (AGM) | Mandatory by September 30 | Exempt (Section 96) |
| Board Meetings | Minimum 4 per year | Minimum 2 per year (one per half-year) |
| Minimum Directors | 2 | 1 (single director allowed) |
| Cash Flow Statement | Mandatory | Exempt |
| Auditor Rotation | Mandatory every 5 years | Exempt |
Mandatory Annual Audit
OPCs must get their financial statements audited by a Chartered Accountant annually. The auditor must be appointed within 30 days of incorporation.
