Registration
How to Convert a Partnership Firm into an LLP
An existing, registered partnership firm can convert into an LLP, carrying its business, assets, and liabilities forward under the new structure. Here’s how that works.
01
Step
Get the partners on board
All partners of the firm need to agree to the conversion and, in practice, become partners of the new LLP.
02
Step
Prepare the financial documents
A CA-certified statement of the firm’s assets and liabilities is required, along with the firm’s most recent Income Tax Return acknowledgment.
03
Step
Get secured creditors’ consent, if any
If the firm has secured creditors, their written consent to the conversion has to be obtained and filed.
04
Step
Reserve a name and arrange DSCs
Same as any new LLP — proposed designated partners need Digital Signature Certificates, and a name is reserved (or applied for within the incorporation form itself).
05
Step
File Form 17 with FiLLiP
Form 17 is filed together with the LLP incorporation application (FiLLiP), along with LLP Form 2 and Form 3.
06
Step
Receive the Certificate of Incorporation
Once approved, the LLP is registered and the erstwhile partnership firm ceases to exist as such — its assets, liabilities, and obligations carry over automatically.
07
Step
Update the firm's other records
PAN, TAN, bank accounts, GST registration, and any contracts or licenses the firm held should be updated to reflect the new LLP.