What is AOC-4 Filing?
The financial statements of a company must be submitted annually to the Ministry of Corporate Affairs. The MCA form for the presentation of financial statements is AOC-4. Therefore, the AOC-4 form is submitted with the MCA for each financial year within 30 days after the annual general meeting of the company. Along with the AOC-4 form, documents such as the Board’s report, the report of the Auditors, the Declaration of the subsidiaries in Form AOC-1, the details of the CSR policy, etc. are filed. AOC-4 must be certified by an authorized accountant or company secretary. In this article, we observe the procedure to present AOC-4 in detail.
Documents to be archived in AOC-4
The financial statements of a company include the balance sheet, the profit and loss account, the statement of cash flows (if applicable), the statement of changes in equity (if applicable) and any explanatory notes attached to the financial statements. The financial statements together with the Board Report must be presented for all companies registered in India (Limited Liability Company, One Person Company, Section 8 Company, etc.) to provide Shareholders, the Government, the parties interested parties and the public a broad financial overview of the company’s business during an exercise.
The following is the complete list of documents that must be filed with AOC-4:
- Copy of the financial statements duly authenticated according to section 134 (including the report of the Board, the report of the auditors and other documents)
- Declaration of subsidiaries according to section 129 – Form AOC-1
- Statement of fact and reasons for not adopting the financial statements at the annual general meeting (AGM)
- Statement of the fact and reasons for not holding the General Meeting.
- Approval of the extension letter of the year or general meeting.
- Complementary or test audit report under section 143
- CSR policy of the company according to subsection (4) of section 135
- Details of other entity (s)
- Details of the salient features and justification for entering into contracts/agreements/transactions with
- related parties under subsection (1) of section 188 – Form AOC-2
- Details of the comments of the CAG of India.
- Secretariat Audit Report
- Report of the directors according to subsection (3) of section 134
- Details of the remaining CSR activities
- Optional attachments, if any.
Presentation of form AOC-4
The financial statements of a company must be submitted to the Registrar along with Form AOC-4 every year for each financial year. All annexes, including the financial statements loaded with Form AOC-4, must be signed in accordance with the requirement of the Companies Act 2013. No copies of SD are accepted in the case of AOC-4, only copies are accepted signed by hand.
In the case of companies covered under the XBRL requirement under the Companies Rules (Presentation of documents and forms in Extensible Business Reporting Language), 2015, the financial statements must be uploaded to the MCA portal in XBRL format. The following class of companies must submit their financial statements and other documents in the electronic form AOC-4 XBRL as of April 1, 2014:
- All listed companies in India and its Indian subsidiaries
- All companies that have paid capital of Rs of five million rupees or more
- All companies that have a turnover of one hundred years or more.
- All the companies that until now were covered by the Rules of the companies (presentation of documents and forms in Extensible Business Reporting Language), 2011
The due date for the presentation of AOC-4
All companies registered in India are required by the Companies Act 2013 to submit a copy of the financial statements, including all documents that must be attached, duly adopted at the annual general meeting of the company, within thirty days of having held an annual general meeting. Since One Person Company does not have an Annual General Meeting, One Person Company must present a copy of the financial statements duly adopted by its member, within 180 days of the close of the fiscal year.
If the annual general meeting of a company has not been held for one year, the financial statements together with the documents to be attached, duly signed together with the statement of the facts and the reasons why the annual general meeting is not held , must be filed with the Registrar within 30 days of the last date before which the annual general meeting should have been held.