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RBI FLA Return Filing

Every Company,  LLP or Partnership Firms which is having Liabilities and Assets in Foreign Currency will have to file the Return with Reserve Bank of India (RBI) on their foreign assets and liabilities under provisions of Foreign Exchanges Management Act, 1999 and the rules made thereunder and pursuant to the on or before July 15 of every year with the Reserve Bank of India (RBI).

Pursuant to the provisions of section 13 Foreign Exchanges Management Act, 1999 Non-filing of the return before due date is treated as a contravention of the the Act which is a serious offence under FEMA and is punishable with the stringent penalties and punishments. LEGALRAJ expert will help you complete reporting of RBI FLA Return hassle-free and efficiently.

RBI FLA RETURN FILING

 

 

(Return on Foreign Liabilities & Assets of the Company / LLP)

 

 

Basic information

 

 

Every Company,  LLP or Partnership Firms which is having Liabilities and Assets in Foreign Currency will have to file the Return with Reserve Bank of India (RBI) on their foreign assets and liabilities under provisions of Foreign Exchanges Management Act, 1999 and the rules made thereunder and pursuant to the RBI/2010-11/427 A.P. (DIR Series) Circular No. 45. on or before July 15 of every year with the Reserve Bank of India (RBI).

 

 

What are the types of the Foreign Assets and Foreign Liabilities ?

 

 

  1. Investment by Indian Company outside India
  2. Foreign Investment  in Indian Company
  3. lending to foreign entity or person or Director
  4. Borrowings from Foreign entity or persons or Directors
  5. Trade Payables
  6. Trade Receivables

 

 

What is the impact for non-filing of the RBI Return on Foreign Liabilities and Assets annually ?

 

 

Pursuant to the provisions of section 13 Foreign Exchanges Management Act, 1999 Non-filing of the return before due date is treated as a contravention of the the Act which is a serious offence under FEMA and is punishable with the stringent penalties and punishments.

 

LEGALRAJ expert will help you complete reporting of RBI FLA Return hassle-free and efficiently.

 

 

What is the process for RBI FLA return filing ?

 

 

 

Step 1: Receipt of inquiry from client

Step 2: We provide you the checklist of the details required

Step 3: You provide us with all the details and documents

Step 4: We start processing the documents and send the PDF files for your verification

Step 5: You confirm on the file or suggest changes, if any

Step 6: We provide you the finalized Excel file for your records and further RBI filing

 

The entire process for registration of Company will take at least 7 to 10 working days.

 

 

How to get the value of Equity Investments using Owned Funds Book Value (OFBV) method in case of Unlisted Company?

 

SL. NO.

PARTICULARS

PREVIOUS MARCH

LATEST MARCH
  1.  

Equity Share Capital

-------

--------
  1.  

Participating Preference Share Capital

-------

--------
  1.  

Total

A + B

A + B
  1.  

Reserve & Surplus

-------

--------
  1.  

Net Worth of the Company

C + D

C + D
  1.  

Equity Share Capital held by Non-Resident Direct Investor (NRDI)

-------

--------
  1.  

Participating Preference Share Capital held by NRDI

-------

--------
  1.  

Total

F + G

F + G
  1.  

Equity & Participating Preference Shareholding Percentage

H/C

H/C
  1.  

FDI at Market Value

E*I

E*I

Documents


Full set of Financial Statements (Audited or Unaudited).


Previous year’s copy of FLA Return filed by the Company.


PAN card + Registration Certificate + MOA & AOA of Company.


Other documents will be intimated through mail.

FAQ

Annual return on Foreign Liabilities and Assets (FLA) has been notified under FEMA 1999 and it is required to be submitted by all the Indian resident companies which have received FDI and/ or made overseas investment in any of the previous year(s), including the current year.

The filing of the FLA annual return must be done before the 15 of July of the respective year. An excel sheet used as a prescribed method of filing of FLA annual return. The form is to be mailed by any authorized member of the company from their email ID to the official email ID of the RBI i.e. fla@rbi.org.in.

Company can download the updated FLA return every year by end of May. Company should use the updated FLA return only.

The Due date for the filing of FLA return is on 15 of July of that year. In case the FLA return filed is based on unaudited accounts, a revised form has to be filed based on audited accounts before the end of September of the same year.

If a company does not file the FLA return within the prescribed time, the company will be liable to pay a penalty of thrice the sum involved in the contravention. In case it is not quantifiable, then a penalty of Rs. 2,00,000/- will have to be paid by the company, and Rs. 5000/- per day in case of continuing offence.

Companies that have only issued shares on a non-repatriable Companies who do not have any outstanding balance of FDI or ODI by the end of the financial year Companies that have only received share application money and have not received any FDI or not made any ODI