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BEN-2 - Return of Beneficial Interest

BEN-2 - Return of Beneficial Interest

  • Overview
  • Documents Required / Details of the product
  • Process
Filing of BEN-2 Every company is mandated by the new rule to identify persons holding 10% or more beneficial interest in the company, these persons are known as SBO (Significant Business Owners). Once the identification of the SBO is done, the company shall be sending intimation to them seeking their detailed disclosure in prescribed Form BEN-1. Every SBO/ shareholder is under to furnish the declaration within 90 days of the applicability of the rule, in case a shareholder withheld the information or send incorrect or incomplete information, the company should approach NCLT for appropriate action on the SBO Once the declaration is received from the SBO, the company must file the BEN-2 Form within 30 days. The eform must be signed by the director, Manager, CEO or CFO or Company Secretary of the Company. It further requires to be certified by a practicing professional like CA, CS or CMA in whole time practice.

Frequently Asked Questions

The e-form BEN-2 is the form prescribed under the rules notified on 8th February 2019, wherein a company need to file a return of significant business owners and their business interest to the ROC for following purposes

  • To declare the SBO of the company under section 90
  • To keep the SBO data up to date at MCA

The BEN-2 must be filed by the company within 30 days of receipt of the declaration by the SBO in BEN-1. However, the MCA has recently issued a circular that the BEN-2 for the first time can be filed within 30 days from the deployment of the form on the MCA Servers.

Yes, the BEN-2 Form can be filed with the normal filing fee to the ROC based on the capital of the company, please refer below the table of the filing fee

Yes, in case you have missed the due date of filing the BEN-2, you can still file the same with an additional fee as prescribed. Refer below table to compute the additional fee payable for late filing of the BEN-2

The only document to be attached with the BEN-2 Form is the declaration given by the SBO in Form BEN-1

As per section 90 of the Companies Act, 2013, every person holding following rights in a company is a Significant Business Owner (SBO)

  • 10% equity shareholding, or
  • 10% voting Right directly or indirectly, or
  • Have any right to receive a 10% dividend out of the total distribution of dividend on indirect holding, or
  • together direct holding or significant influence or control.

  • Section 125(5), Authority constituted by the central government.
  • Holding reporting company, provided that the detail of such reporting company shall be reported in BEN-2
  • Central Government/ State Government/ Local Government
  • Reporting Company/ body corporate / any entity controlled by the Central Government/ State Government/ Local Government
  • SEBI / RBI etc

Important Points of BEN-2 Return Filing

  1. Significant Business Owner (SBO)

    The SBO is a person who holds 10% or more beneficial interest in the company which may be by virtue of equity shareholding or by in any other manner resulting in the voting rights of 10% or more.

  2. Nature of Declaration by SBO

    The SBO has to furnish a very detailed declaration of investment in all kinds of businesses like HUF, Proprietorship, partnership concerns or other any other companies, irrespective of the size and quantum of such investment.

  3. Due Date of Filing the BEN-2 Form

    The date of the BEN-2 filing depends on the availability of the form on the MCA Portal. It has been clarified by MCA that form can be filed within 30 days without any additional fee

  4. Regular Compliance on Change in SBO

    The BEN-2 has to be filed for the first time now and every time there is any change in the shareholding of the company. This is a welcome move to reduce disputes among the shareholders.

     

 

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BEN-2 - Return of Beneficial Interest Registration

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BEN-2 - Return of Beneficial Interest in just 10 Days

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