Know All About This e-Form for Company KYC
On February 21, 2019, the Ministry of Corporate Affairs (MCA) has introduced the new e-Form 22A, of Companies (Incorporation) Amendment Rules, 2019. Also known as e-Form ACTIVE (Active Company Tagging Identities and Verification), it introduces KYC for the companies.
Applicable on: It is applicable on all companies incorporated on or before December 31, 2017.
The companies that are NOT required to file Form 22A-
- Struck off Companies
- Under process of striking off Companies
- Amalgamated Companies
- Companies under Liquidation
- Dissolved Companies
Due Date of Filing: The Notification states that all companies shall file the e-Form 22A on or before April 25, 2019.
Documents mandated for filing e-Form 22A
The documents mentioned below are mandatory for filing Active Company Tagging Identities and Verification (ACTIVE)-
1. Particulars of the Company
- Photograph of the registered office showing external building and inside office also showing therein atleast one Director/KMP who has affixed his/her digital signature to this form.
- Email id of the entity.
2. DIN as well as the DSC of the Director
- (The DIN and DSC should be active)
3. Compliance Details
- SRN number of the latest filed e form AOC-4 (Financial Statements) and MGT-7 (Annual Return) by the company.
Those Companies that have not filed their Financial Statement as required under Section 137 or Annual Return as mandated under Section 92, or both of them, with the concerned Registrar, will not be allowed to file e-Form 22A. The exception being that if an ongoing dispute has led to these issues, then such a company may be permitted to file the Active e-Form.
Outcome of Late Filing or Non-Filing of e-Form 22A
- Any filing after the due date will attract a penalty of Rs 10,000 as late fine.
- The companies that shall not file e-Form 22A by the stipulated date, i.e. April 25, 2019, shall be marked as ‘Active-Non-Compliant’.
- Any company whose status changes to ‘Active-Non-Compliant’ shall be barred from filing these forms-
- Sh-7 (Increase in Authorized Capital)
- PAS-3 (Allotment of Shares)
- DIR-12 (Appointment and Resignation of Director, except cessation)
- INC-22 (Change in Registered Office)
- INC-28 (Amalgamation or demerger)
- In addition to these, the ROC may take action under Section 12(9) and remove the company’s name from the Register of Companies.
Act Swiftly to Save Yourself from the Negative Consequences
The smartness lies in companies being compliance-ready at the earliest. An exhaustive list of required documents should be cross checked and kept ready. To know the minute regulatory rules and decode them, contact MUDS, their experts will extend complete guidance and ensure that e-Form 22A is filed on time with complete compliance.