In a previous article Companies to file Form BEN-2 to ROC to Declare Significant Beneficial Owners (SBO) [Read Here], we provided information about how the Ministry of Corporate Affairs (MCA) amended Companies Significant Beneficial Owners (SBO) Rules, 2018 in February 2019.
The goal of this amendment is to simplify the identification of a company’s SBOs. As per these new rules, every company has to identify SBOs (persons holding more than 10% of shares or voting rights) and file a return in Form BEN-2 with the ROC within 30 days of obtaining a declaration from these SBOs.
In July 2019, the MCA extended the last date of filing Form BEN-2 to 30th September under the Companies Act, 2013. Companies can now file BEN-2 until this date without payment of additional fees. Filing BEN-2 after this time limit has passed will attract an additional fee.
Does your company fall under the ambit of these new MCA rules regarding SBO? You must file Form BEN-2 to declare Significant Beneficial Owners (SBO) or face penalties!
Taxguru Consulting Services can help you file Form BEN-2 easily and at minimal cost. Don’t wait till 30th September – Contact Us today!