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Before incorporating an LLP it is very important to have an LLP agreement within 30 days. The LLP agreement is a paper which is used to define the rights and responsibilities in an LLP.

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What is an LLP agreement ?

If an agreement is well structured, it actually helps in strengthening the working of an LLP. A person drafting the agreement should have the skills to form an agreement which defines the working of an LLP appropriately.

Reasons for changing an LLP agreement

Reason 1

Change in the working of an LLP.

Reason 2

Change in the business activities carried out by an LLP

Reason 3

Change in the profit shared by different partners in the company

Process of changing the LLP agreement

  • 1

    Step 1

    In order to change the agreement the resolution is passed requesting for the revise in an LLP agreement.

  • 2

    Step 2

    After the resolution is passed, form three is filled within 30 days

  • 3

    Step 3

    The form-3 is filled with details such as the date of modification of the agreement and the reasons of the change in the agreement.

  • 4

    Step 4

    There can be various reasons for the change in the LLP agreement.

  • 5

    Step 5

    After submitting all the details the details such as the type of change made in an agreement is reported with other details

  • 6

    Step 6

    The documents needed are attached to the form 3.

  • 7

    Step 7

    The applicant needs to submit form 4 if the change in the agreement is because of the change in the partnership of the business.

  • 8

    Step 8

    Form 4 is also filled in case there is a change in the address or the name of the office or in case there is a change in the partnership.

  • 9

    Step 9

    After filling the form, the documents that are to be attached with the form are submitted

  • 10

    Step 10

    The forms are then submitted to the registrar which then processes the change in the LLP

Documents required for changing in LLP agreement

  • Letter of consent from all the partners of the LLP
  • The evidence of cessation
  • Proof of the change in the name of the company
  • The initial LLP agreement
  • The upgraded LLP agreement
  • Resolution of the company if there is an addition in the partner
  • Name and address of the partner to be added in the company along with the authorization letter
  • Frequently asked Questions

    Why are changes made in the LLP agreement?+
    When are the changes reported in an LLP agreement?+

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