AOC-4 and MGT-7 filing checklist: what to have ready and the mistakes to avoid

Most delays with AOC-4 and MGT-7 happen before anyone opens the MCA portal. A document is missing, the board has not approved the accounts, or the AGM date in one place does not match another. This checklist is the one to run through for each company before you start.

This is general information for professionals, not legal advice. Dates assume a 31 March year end and no extension by the Ministry; check the latest MCA notifications and circulars before you file.

Before the AGM

• The board has met, approved the financial statements and the board's report, and the directors have signed them.
• The auditor's report has been received and signed.
• The notice of the AGM has gone out with the notice period the Act requires, or shorter notice has been agreed by the members the law requires.
• The auditor's appointment or reappointment is on the agenda, where it falls due.
• You have the date, time and place of the AGM, and you will have the minutes after it.

What you need for AOC-4

• The signed financial statements: balance sheet, profit and loss account, cash flow statement where it applies, and the notes.
• The auditor's report.
• The board's report with its annexures. Depending on the company, these include the CSR report, the related party disclosures (AOC-2) and the secretarial audit report.
• For a company with a subsidiary: the consolidated financial statements, and the statement about the subsidiary (AOC-1). These go in AOC-4 CFS.
• The XBRL document, for the companies the XBRL rules cover. Listed companies and larger companies are the usual examples; check the rules for each company.
• CSR-2 for a company to which the CSR rules apply.
• The digital signatures the form needs. It is signed by the authorised officers and certified by a practising professional; check who the form requires for your company.

What you need for MGT-7 or MGT-7A

• The AGM date, which must match the minutes and the date you gave in AOC-4.
• The registered office, principal business activity and the company's email address.
• Authorised, issued and paid-up capital at the year end, which should agree with the company's filings and its master data on the MCA portal.
• The shareholding pattern at the year end.
• The directors and key managerial personnel with their DINs, and any change during the year.
• The number of board and general meetings held, with attendance.
• Remuneration of directors and key managerial personnel.
• Any penalties or punishments imposed on the company or its officers.
• For a company that needs it: the certificate from a practising company secretary. Listed companies and larger companies are the usual examples.
• Turnover and paid-up capital, which decide whether the company files MGT-7 or the shorter MGT-7A.

Mistakes that cause trouble

1. The wrong annual return. A company files MGT-7 when it should file MGT-7A, or the other way round. Check its status against the current limits and the exclusions every year, because a company's status can change.
2. Dates that do not agree. The AGM date differs between AOC-4, MGT-7 and the minutes. Use the date in the minutes everywhere.
3. Filing from figures that changed. The accounts were adopted with changes at the AGM, but the form was prepared from the earlier draft.
4. Forgetting what goes with AOC-4. CSR-2 for a company where CSR applies, and the consolidated accounts for a company with a subsidiary.
5. ADT-1 left until later. It has its own date, 15 days from the AGM.
6. A digital signature that has expired, or a DIN whose KYC is not up to date. Check both a week before, not on the day.
7. No record of what was filed. Without the SRN and the challan, the next person has to start again.

After you file

• Download the SRN acknowledgement and check that the form shows as approved, not just submitted.
• Keep the SRN, the date filed, the fee paid and any additional fee against the filing.
• Put the filed forms, the acknowledgement and the challan in the company's file.
• If you filed late, record the number of days and the additional fee, so the client can see what the delay cost.

One place for all of it

ThinkFiling Secretarial keeps the filings for each company in one list, with the SRN, filing date and fees recorded against each one, and a document vault for the minutes, accounts and acknowledgements. Try it free for 14 days with a single company.