Limited Liability Partnership's Subsequent Responsibilities

Limited Liability Partnership (LLP) has continuous obligations after it is registered. We are also offering services to help you in registering changes in particulars of LLP and its Partners, keeping and maintaining the registers and statutory records, keeping accounting records, alert deadline and preparing the annual declaration and other statutory compliance matters.

  • Registration of changes in particulars

    An LLP shall ensure to lodge a notification to Companies Commission of Malaysia (CCM) for any changes made or occurs in the registered particulars of the LLP within 14 days from the date of which the changes made or occurred.

  • Keeping of Registers and Statutory Record

    An LLP shall keep at all times at the registered office the followings:

    • notice of registration issued by the Registrar of LLP;
    • register of the name and address of each partner and compliance officer;
    • copy of the most recent annual declaration;
    • copy of any statement lodged with the Registrar under the LLP Act 2012;
    • copy of certificate (if any), issued by the Registrar under section 11(4) LLP Act 2012;
    • copy of the LLP agreement and any amendment thereto;
    • copy of any instrument relating to any charge created by the LLP; and
    • any other documents that the Registrar may, from time to time, require to be kept by an LLP.
  • Keeping of Accounting Records

    • An LLP shall keep accounting records and other records as will sufficiently explain the transactions and financial position of the LLP and enable profit and loss accounts and prepare balance sheets from time to time which gives a true and fair view of the state of affairs of the LLP at the LLP registered office or such other place as the partner thinks fit provided that a notification of that place been made to the Registrar;
    • An LLP shall retain the accounting records and other records as above for a period of not less than 7 years from the end of financial year in which the transactions or operations to which those records relate are completed.
  • Annual Declaration

    • An LLP shall ensure to lodge with CCM on an annual basis within ninety days from the end of the financial year of the LLP, a declaration made by any two of its partners that the LLP is able or not able to pay its debts as they become due in the normal course of business and the declaration shall be accompanied by such other particulars as may be required by the Registrar.
    • In the case of the first annual declaration, it shall be lodged not later than 18 months from the registration of LLP or 90 days from the financial year end, whichever is earlier.

Failure to register change in particulars with CCM

In the case where a LLP fails to register change in particulars with CCM within 14 days, the  LLP commits an offence and shall be liable to a fine not exceeding RM10,000 and a further default fine of not exceeding RM500 each day if the offence continues after convictions.

Failure to keep Registers and Statutory Records at Registered Office

In the case where a LLP fails to keep Registers and Statutory Records at Registered Office, the LLP commits an offence and shall be liable to a fine not exceeding RM10,000 and a further default fine of not exceeding RM500 each day if the offence continues after convictions.

Failure to keep Accounting Records

  1. In the case where a LLP fails to keep Accounting Records at Registered Office or other place, the LLP and every partners commits an offence and shall be liable to a fine not exceeding RM50,000 or imprisonment for a term not exceeding 6 months or both.
  2. In the case where a LLP fails to keep Accounting Records for a period of 7 year, the LLP and every partners commits an offence and shall be liable to a fine not exceeding RM10,000 and a further default fine of not exceeding RM500 each day if the offence continues after conviction.

Failure to submit Annual Declaration

In the case where a LLP fails to lodge Annual Declaration to CCM within ninety days, the LLP commits an offence and shall liable to a fine not exceeding RM20,000 and a further default fine of not exceeding RM500 each day if the offence continues after convictions.