TLDR;
Divesh Goyal, a practising company secretary, provides a detailed walkthrough of the new AOC4 form filing process on the MCA V3 portal, covering both offline and online modes. He highlights key changes, including linked forms, electronic director and auditor reports, and the requirement to use the MCA V3 portal. He also addresses common queries and errors encountered during filing, offering solutions and guidance for professionals.
- The MCA V2 portal is closed, and all filings must now be done on the MCA V3 portal.
- AOC4 is no longer an individual form but is linked to other forms like electronic director and auditor reports.
- Offline filing is available for AOC4 and MGT7, allowing users to fill a portion of the form online and complete it via an Excel download.
- Draft formats for director's reports are available on the blog, with comparisons to electronic formats for easy copy-pasting.
Introduction [0:15]
Divesh Goyal welcomes viewers to a live webinar focusing on the demo filing of the AOC4 form, following up on previous discussions and a webinar about the form's modalities. He promises a step-by-step guide, covering form preparation up to the payment module. He encourages viewers to post questions in the chat box and mentions that pre-submitted questions from various platforms will also be addressed. Additionally, he informs viewers about the availability of draft formats for director's and auditor's reports on his blog, designed to simplify annual filing by aligning with electronic report requirements.
Key Dates and Login Requirements for MCA V3 Portal [4:36]
The speaker explains that all forms under the Companies Act must now be filed on the MCA V3 portal, as the V2 portal was closed on 17th June. The new forms were introduced on 14th July, marking these dates as significant for professionals. To file any form, logging into the MCA V3 portal is mandatory. Annual forms can be filed using a professional's business user ID, a staff ID of the professional, the company's ID, or a director's login ID. Creating a company-specific ID is recommended for clarity.
Online vs Offline Filing Options [7:06]
The speaker navigates the MCA website to show where the AOC4 form can be found under 'MCA Services' then 'Company e-filing' and finally 'Annual Filing'. He clarifies the availability of both online and offline options for filing AOC4, a form known for its extensive information requirements. The offline option is designed to save time and mitigate network or site issues. It involves filling approximately 20% of the information online, after which an Excel file is downloaded for the remaining data. This offline option is currently available only for AOC4 and MGT7 forms.
AOC4 as a Linked Form [9:34]
The speaker emphasises that AOC4 is no longer an individual form but is now linked to other forms, similar to incorporation forms. Once the AOC4 is prepared and saved, related forms such as the electronic director's report, electronic auditor's report, AOC1, AOC2, CSR2, and AOC4 CFS will become accessible. All linked forms must be completed accurately. Despite the availability of electronic formats for the director's and auditor's reports, attaching PDF versions of these reports remains mandatory, as the electronic versions are essentially extracts.
Filling Out the Online Portion of AOC4 (Offline Mode) [10:38]
The speaker begins filling out the online portion of the AOC4 form in offline mode, entering the company name and selecting the financial year. He notes that the option to update the email ID, available in the V2 portal, is now closed, requiring a separate process for email ID changes. He proceeds to input signatory details, including DIN numbers and designations, and specifies the dates of board meetings for financial statement and board report approvals. The speaker also addresses whether the company is a subsidiary and the requirement to mention the SRN of ADT1, which will auto-fill auditor information.
Completing the Online Form and Generating Linked Forms [13:46]
The speaker continues filling out the online form, indicating whether the company has subsidiaries or associates and providing the SRN of ADT1. He clarifies that for first auditors, Z999 can be used in place of the SRN. He inputs details of the member signing the form and specifies the type of industry. The speaker selects 'yes' for consolidated financial statements to demonstrate the form, and confirms the company maintains books in electronic mode. He also discloses related party transactions and confirms CSR and second auditor applicability. After saving, the speaker submits the form, which then generates linked forms like AOC4 CFS, AOC1, AOC2, and extracts of the auditor and board reports.
Filling Linked Forms and Excel Generation [16:50]
The speaker proceeds to fill out the linked forms, including AOC4 CFS, AOC1, and AOC2, entering necessary details such as board meeting dates and signatory information. He highlights that any changes to the initial 20% of information filled online cannot be made directly in the Excel file; instead, they must be edited online and the Excel regenerated. The speaker also discusses materiality in related party transactions, referencing section 188 of the Companies Act. After completing the required online fields, he generates the Excel files, resulting in a ZIP file containing multiple forms.
Understanding the Downloaded Excel Files [22:39]
The speaker shows the downloaded ZIP file, which contains seven files, including mandatory ones like AOC4, auditor report (standalone), and board report, as well as conditional files like AOC1, AOC2, AOC4 CFS, and auditor report (consolidated), depending on the selections made in AOC4. He opens the AOC4 Excel file, highlighting the instructions provided, such as using MS Excel version 2021 plus or Office 360. The speaker notes the Excel is protected and advises against cut, copy, and paste actions, though he acknowledges professionals may need to copy-paste for director and auditor reports.
Navigating the AOC4 Excel and e-Director Report [25:09]
The speaker continues reviewing the AOC4 Excel file, noting that previously filled online information is already populated in grey fields. He reiterates that these pre-filled details cannot be amended directly in the Excel. He points out that previous year's data is pre-filled, with a new column added for explaining changes in these figures. The speaker cautions against making changes without NCLT approval, referencing section 131. He then transitions to showing the e-director report Excel, highlighting that instructions are provided and some fields are pre-filled based on earlier selections.
Completing and Uploading Excel Files [28:58]
The speaker explains that after filling all the Excel files, the next step is to upload them to the SRN on the MCA website. These Excel files do not require a digital signature. He demonstrates the upload process, noting that the system will only accept the Excel file downloaded from the link and will reject any other file. If errors are present, a red line will appear, and an error file can be downloaded to identify the specific errors. The speaker shows how the error file appears, detailing the part and point number where the error occurred.
Final Steps: Attachments and DSC [32:34]
The speaker shows a successfully uploaded Excel file, indicated by a blue column. He emphasises that files must be uploaded in sequence, starting with AOC4. He demonstrates how to view the filled form before submission. The speaker then discusses attachments, noting that financial statements (including the auditor's report) must be attached in column A, with optional attachments like AOC2. After uploading documents, the user proceeds to file the form and make payment. He clarifies that AOC4 requires a DSC from one director and, for non-small companies, a professional. Electronic reports also need a director's DSC.
Conclusion and Additional Information [36:41]
The speaker summarises the AOC4 filing process in offline mode and briefly describes the online mode as a replication of the incorporation process. He reiterates his commitment to creating videos to help professionals and encourages viewers to share the knowledge. He addresses questions from the audience, including queries about MGT7, the best ID for filing, required attachments, XBR filing, CSR applicability, and errors encountered during filing. He also provides information about his WhatsApp group and channel for updates and draft formats.