{"id":4539,"date":"2018-07-03T11:26:41","date_gmt":"2018-07-03T05:56:41","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=4539"},"modified":"2021-11-14T13:44:41","modified_gmt":"2021-11-14T08:14:41","slug":"corporate-and-professional-updates-03th-july-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/","title":{"rendered":"Annual Return on Foreign Liabilities &#038; Assets (FLA)"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69eade1703c17\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69eade1703c17\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#Meaning_of_Foreign_Liabilities_Assets_Annual_Return_FLA_Return\" title=\"Meaning of Foreign Liabilities &amp; Assets Annual Return (FLA Return)\">Meaning of Foreign Liabilities &amp; Assets Annual Return (FLA Return)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#What_are_requirement_to_file_a_FLA_Return\" title=\"What are requirement to file a FLA Return ?\u00a0\">What are requirement to file a FLA Return ?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#What_is_Due_date_of_Filing_of_FLA_Return\" title=\"What is Due date of Filing of FLA Return\">What is Due date of Filing of FLA Return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#In_case_Audited_or_Unaudited_Financials\" title=\"In case Audited or Unaudited Financials\">In case Audited or Unaudited Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#PERSONS_REQUIRED_TO_FILE_FLA_ANNUAL_RETURN\" title=\"PERSONS REQUIRED TO\u00a0FILE FLA ANNUAL RETURN\">PERSONS REQUIRED TO\u00a0FILE FLA ANNUAL RETURN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#How_Do_begin_filling_out_FLA_Return\" title=\"How Do begin filling out FLA Return?\">How Do begin filling out FLA Return?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#FILING_OF_FLA_RETURN\" title=\"FILING OF FLA RETURN\">FILING OF FLA RETURN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#FILING_OF_FLA_RETURN_BY_PARTNERSHIP_FIRM\" title=\"FILING OF FLA RETURN BY PARTNERSHIP FIRM\">FILING OF FLA RETURN BY PARTNERSHIP FIRM<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#TRANSFER_OF_SECURITIES_BY_A_NON-RESIDENT_INVESTOR_TO_A_RESIDENT_INVESTOR\" title=\"TRANSFER OF SECURITIES BY A NON-RESIDENT INVESTOR TO A RESIDENT INVESTOR\">TRANSFER OF SECURITIES BY A NON-RESIDENT INVESTOR TO A RESIDENT INVESTOR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#IMPORTANT_POINTS_FOR_FILING_FLA_RETURN\" title=\"IMPORTANT POINTS FOR FILING FLA RETURN\">IMPORTANT POINTS FOR FILING FLA RETURN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#COMPANIES_EXEMPTED_FROM_FILING_FLA_RETURN\" title=\"COMPANIES EXEMPTED FROM FILING FLA RETURN\">COMPANIES EXEMPTED FROM FILING FLA RETURN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#Below_are_companies_that_are_not_required_to_file_a_FLA_return\" title=\"Below are companies that are not required to file a FLA return\u00a0\">Below are companies that are not required to file a FLA return\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#What_is_the_penalty_for_failure_to_comply_with_the_FLA_Provision\" title=\"What is the penalty for failure to comply with the FLA Provision?\">What is the penalty for failure to comply with the FLA Provision?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-03th-july-2018\/#Conclusion\" title=\"Conclusion :\">Conclusion :<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets..jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13158\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets..jpg\" alt=\"Annual return on Foreign Liabilities and Assets.\" width=\"956\" height=\"463\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets..jpg 667w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets.-300x145.jpg 300w\" sizes=\"(max-width: 956px) 100vw, 956px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Meaning_of_Foreign_Liabilities_Assets_Annual_Return_FLA_Return\"><\/span><strong><span style=\"color: red;\">Meaning of Foreign Liabilities &amp; Assets Annual Return (FLA Return)<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Annual Return on Foreign Liabilities and Assets (FLA Return) Under<a href=\"https:\/\/carajput.com\/blog\/residential-status-under-income-tax-and-fema\/\"> FEMA<\/a> 1999. As more companies involve themselves with foreign investments, the importance of the\u00a0interchange\u00a0Management Act (FEMA) regulations and their compliance becomes\u00a0a significant\u00a0a part of\u00a0the companies\u2019 operations.<\/li>\n<li>We needed to understand meaning of the FLA Return, FLA annual return are one among the compliances that need to be met by the businesses that are committed <a href=\"https:\/\/carajput.com\/blog\/know-about-foreign-direct-investment-in-india\/\">FDI<\/a> (Foreign Direct Investments) or companies who invest in foreign companies either via\u00a0venture\u00a0or wholly owned subsidiaries, also termed as Overseas Direct Investment (ODI).<\/li>\n<li>FLA return is filed Online on RBI web-Portal on which we can file return is <a href=\"https:\/\/flair.rbi.org.in\/fla\/faces\/pages\/login.xhtml\">Link here\u00a0<\/a> https:\/\/flair.rbi.org.in\/fla\/faces\/pages\/login.xhtml<\/li>\n<li>Foreign Liabilities and Assets annual return should cover all the foreign investments made by the corporate and\/or to the corporate and it must be directly submitted by the corporate to the banking concern of India.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_are_requirement_to_file_a_FLA_Return\"><\/span><span style=\"color: #000080;\"><strong>What are requirement to file a FLA Return ?\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Companies that have received FDI (Foreign Direct Investments) and\/or made FDI overseas in any financial year must file a FLA Return with the RBI.<\/li>\n<li>The company&#8217;s financial statement for that fiscal year can clearly show the status of Outward FDI or Inward FDI .<\/li>\n<li>In other words Foreign Liabilities and Assets is required to be submitted by all the Indian Companies which have received Foreign Direct Investment (FDI) or made Overseas Investment abroad within the previous year(s) including this year i.e., who holds foreign Assets or Liabilities in their Balance Sheets.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Due_date_of_Filing_of_FLA_Return\"><\/span><span style=\"color: #000080;\"><strong><em>What is Due date of Filing of FLA Return<\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Annual return on Foreign Liabilities and Assets has been notified under FEMA 1999 and\u00a0it&#8217;s\u00a0required to be submitted by all the India resident companies which have received FDI and\/ or made overseas investment in any of the previous year(s), including\u00a0this\u00a0year by July 15\u00a0once a year.<\/li>\n<li>Required to be submitted by all the India resident companies which have received FDI and\/ or made overseas investment in any of the previous year(s), including current year by July 15 once a year.<\/li>\n<li>All entities that have received FDI and\/or made overseas investment in any of the last years are obligated to file an annual return on foreign liabilities and assets (FLA) (July 15 every year).<\/li>\n<li>If the FLA Return is submitted on the basis of unaudited accounts by July 15, they must submit a revised FLA Return on the basis of audited accounts by the end of September, i.e. September 30th.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"In_case_Audited_or_Unaudited_Financials\"><\/span><span style=\"color: #000080;\"><strong><em>In case Audited or Unaudited Financials<\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>If the company&#8217;s financials haven&#8217;t been audited or finalised by the deadline for filing the return, the FLA Return must be filed using unaudited or provisional financials.<\/li>\n<li>It should be noted, however, that once the financials have been audited, the company must file a revised FLA Return on the RBI Portal based on the audited accounts.<\/li>\n<li>Non-filing of the return before the\u00a0maturity\u00a0are\u00a0treated as a violation of FEMA and penalty clause\u00a0could also be\u00a0invoked for violation of FEMA.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"PERSONS_REQUIRED_TO_FILE_FLA_ANNUAL_RETURN\"><\/span><span style=\"color: #000080;\"><strong>PERSONS REQUIRED TO\u00a0FILE <a style=\"color: #000080;\" href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\">FLA ANNUAL RETURN<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img decoding=\"async\" src=\"https:\/\/4.bp.blogspot.com\/-wNJClJqatnY\/VyitHIW_mDI\/AAAAAAAAJWQ\/aADIWyCr7kwwv9OmGZd_ZtMc0FhhDqH_ACLcB\/s1600\/corporate.jpg\" alt=\"Image result for corporate and professional\" \/><\/p>\n<ul>\n<li>As per the regulations of FEMA, 1999, any <a href=\"https:\/\/carajput.com\/blog\/tag\/public-limited-company\/\">company<\/a> who has either made ODI or received FDI, is required to file the FLA annual return.\u00a0the businesses\u00a0must\u00a0report\u00a0this\u00a0financial year\u2019s FLA\u00a0furthermore\u00a0because the\u00a0previous year(s) assets and liabilities.\u00a0within the\u00a0case where\u00a0an organization\u00a0doesn&#8217;t\u00a0have any foreign assets or liabilities for\u00a0this\u00a0year but has outstanding FDI or ODI from the previous year(s), it must file the FLA annual return providing the details of their outstanding assets or liabilities.<\/li>\n<li>The FEMA regulations also require partnership firms to file FLA annual return if\u00a0they need\u00a0received FDI or made ODI.\u00a0within the\u00a0case of partnership firms, the RBI will issue a dummy CIN upon its request\u00a0which is able to\u00a0be used\u00a0just for\u00a0the filing of FLA annual return.<\/li>\n<li>just in case\u00a0a dummy CIN has already been issued, the partnership firm will use\u00a0the identical\u00a0for the filing of the FLA return.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"How_Do_begin_filling_out_FLA_Return\"><\/span><span style=\"color: #000080;\"><strong>How Do begin filling out FLA Return?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>After logging in homepage will display with the option &#8220;FLA ONLINE FORM&#8221; on the left hand side.<\/li>\n<li>When we click on FLA Online Form, we will see an option to &#8220;START FILING FLA FORM.&#8221;<\/li>\n<li>Start Filing FLA Form by clicking the Start Filing FLA Form button. The Form will appear, and you will be able to fill in the details that apply to your company.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"FILING_OF_FLA_RETURN\"><\/span><span style=\"color: #000080;\"><strong>FILING OF FLA RETURN<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>It is provided that the filing of FLA annual return shall be made via an excel sheet.\u00a0it&#8217;s\u00a0required to be filed by all\u00a0the businesses\u00a0falling under\u00a0the factors\u00a0already mentioned.<\/li>\n<li>The filing of the FLA annual return\u00a0needs to\u00a0be done before the 15 of July of the respective year and must include data of FDI or ODI received or made by\u00a0the corporate\u00a0respectively for any previous year(s)\u00a0and also the\u00a0current year.\u00a0the shape\u00a0is to be mailed by any authorized member of\u00a0the corporate\u00a0from their email ID to the official email ID of the RBI i.e., fla@rbi.org.in. The members of\u00a0the corporate\u00a0authorized to file the FLA return are Company Secretary, Chief\u00a0money dealer, and Directors.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets-FLA.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13154\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets-FLA.jpg\" alt=\"Annual return on Foreign Liabilities and Assets (FLA)\" width=\"870\" height=\"449\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets-FLA.jpg 562w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/Annual-return-on-Foreign-Liabilities-and-Assets-FLA-300x155.jpg 300w\" sizes=\"(max-width: 870px) 100vw, 870px\" \/><\/a><\/p>\n<ul>\n<li>The filing of the FLA annual return is required to be made before 15<sup>th<\/sup> July of the relevant year. The shape\u00a0is to be mailed by any authorized member of\u00a0the corporate\u00a0from their email ID to the official email ID of the RBI i.e., fla@rbi.org.in.<\/li>\n<li>The members of\u00a0the corporate\u00a0authorized to file the FLA return are Company Secretary, Chief\u00a0money handler, and Directors.<\/li>\n<li>The details filed must comprise of the financial details\u00a0also\u00a0as other required details in accordance with\u00a0the businesses\u00a0audited accounts. If the company\u2019s accounts\u00a0don&#8217;t seem to be\u00a0audited before the\u00a0maturity date\u00a0of submission, i.e., July 15, then the FLA Return should be submitted\u00a0supported\u00a0an unaudited (provisional) account.<\/li>\n<li>Once the accounts get audited and there are revisions from the provisional information submitted by\u00a0the corporate,\u00a0they&#8217;re\u00a0purported to\u00a0submit the revised FLA return\u00a0supported\u00a0audited accounts by\u00a0the top\u00a0\u2013 September.<\/li>\n<li>No. Information should be reported for all the reference period, i.e. Previous March &amp; Latest March. If the Account Closing Period of the corporate is different from the reference period, then the knowledge should lean for the reference period on internal assessment.<\/li>\n<li>After the filing of the FLA return, an acknowledgment mail\u00a0is going to be\u00a0sent by the RBI to\u00a0the e-mail\u00a0ID of the authorized person.<\/li>\n<li>Format for the FLA return can be found on <a href=\"https:\/\/www.rbi.org.in\/Scripts\/BS_ViewFemaForms.aspx.\">link\u00a0<\/a> <strong>https:\/\/www.rbi.org.in\/Scripts\/BS_ViewFemaForms.aspx.<\/strong><\/li>\n<li>Your queries is also addressed by sending an e-mail to <strong>fla@rbi.org.in.<\/strong><\/li>\n<\/ul>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/FLA.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-13155\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/FLA.jpg\" alt=\"\" width=\"915\" height=\"686\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/FLA.jpg 720w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/FLA-300x225.jpg 300w\" sizes=\"(max-width: 915px) 100vw, 915px\" \/><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"FILING_OF_FLA_RETURN_BY_PARTNERSHIP_FIRM\"><\/span><span style=\"color: #000080;\"><strong>FILING OF FLA RETURN BY PARTNERSHIP FIRM<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>In case of Partnership firms, Branches, or Trustees have any outward FDI outstanding as by end-March of the reporting year, then they&#8217;re required to send asking mail to induce a dummy CIN number provided by RBI. which is able to enable them to file the Excel-based FLA Return.<\/li>\n<li>If any entity has already got the dummy CIN number from the previous survey,\u00a0they ought to\u00a0use\u00a0the identical\u00a0CIN number\u00a0within the\u00a0current survey also.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"TRANSFER_OF_SECURITIES_BY_A_NON-RESIDENT_INVESTOR_TO_A_RESIDENT_INVESTOR\"><\/span><span style=\"color: #000080;\"><strong>TRANSFER OF SECURITIES BY A NON-RESIDENT INVESTOR TO A RESIDENT INVESTOR<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>If all non-resident shareholders of\u00a0a corporation\u00a0have transferred their shares to the residents during the reporting period\u00a0and therefore the\u00a0company\u00a0doesn&#8217;t\u00a0have any outstanding investment in respect of inward and outward FDI as on end-March of the reporting year, then\u00a0the corporate\u00a0needn&#8217;t\u00a0submit the FLA Return.<\/li>\n<li>The details filed must comprise of the financial details\u00a0similarly\u00a0as other required details in accordance with\u00a0the businesses\u00a0audited accounts.\u00a0just in case\u00a0the corporate\u00a0doesn&#8217;t\u00a0have their accounts audited before 15 July,\u00a0the corporate\u00a0is to file the FLA return\u00a0consistent with\u00a0the unaudited accounts and have their accounts audited thereafter.<\/li>\n<li>After the audit, if there are any changes regarding\u00a0the small print\u00a0filed,\u00a0the corporate\u00a0has got to\u00a0file another form with the updated details before the\u00a0Judgment Day\u00a0of September of\u00a0the identical\u00a0year.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>What happen After the filing of the FLA return?<\/strong><\/span><\/p>\n<ul>\n<li>An acknowledgement mail is going to be sent by the RBI to the e-mail ID of the authorized person. The format for the filing of the FLA return is often found on https:\/\/www.rbi.org.in\/Scripts\/BS_ViewFemaForms.aspx.<\/li>\n<li>Queries\u00a0could also be\u00a0addressed by sending an e-mail to, <a href=\"mailto:fla@rbi.org.in\">fla@rbi.org.in<\/a>.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"IMPORTANT_POINTS_FOR_FILING_FLA_RETURN\"><\/span><span style=\"color: #000080;\"><strong>IMPORTANT POINTS FOR FILING FLA RETURN<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18813\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/image-2.png\" alt=\"FLA \" width=\"785\" height=\"511\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/image-2.png 602w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/image-2-300x195.png 300w\" sizes=\"(max-width: 785px) 100vw, 785px\" \/><\/li>\n<li>When submitting basic credentials, use the accountant&#8217;s e-mail address and cellphone number rather than the director&#8217;s or partner&#8217;s to ensure that the OTP is received without trouble.<\/li>\n<li>While filing FLA, make sure you have a stable internet connection because even a small disruption can create issues.<\/li>\n<li>Keep financial and other data on a spread sheet.<\/li>\n<li>The filled form can be saved as a PDF.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"COMPANIES_EXEMPTED_FROM_FILING_FLA_RETURN\"><\/span><span style=\"color: #000080;\"><strong>COMPANIES EXEMPTED FROM FILING FLA RETURN<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Below_are_companies_that_are_not_required_to_file_a_FLA_return\"><\/span><span style=\"color: #000080;\">Below are companies that are not required to file a FLA return\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/COMPANIES-EXEMPTED-FROM-FILING-FLA-RETURN.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13159\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/COMPANIES-EXEMPTED-FROM-FILING-FLA-RETURN.jpg\" alt=\"COMPANIES EXEMPTED FROM FILING FLA RETURN\" width=\"933\" height=\"525\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/COMPANIES-EXEMPTED-FROM-FILING-FLA-RETURN.jpg 638w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/07\/COMPANIES-EXEMPTED-FROM-FILING-FLA-RETURN-300x169.jpg 300w\" sizes=\"(max-width: 933px) 100vw, 933px\" \/><\/a><\/p>\n<ul>\n<li>Companies having issued shares on non-repatriable basis to the non-residents of India.<\/li>\n<li>The Corporates who don&#8217;t have any outstanding balance of FDI or ODI by the tip of the year are exempt from filing FLA return.<\/li>\n<li>Companies that have only received share application money and haven&#8217;t received any FDI or not made any ODI, are exempt from filing FLA return.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_penalty_for_failure_to_comply_with_the_FLA_Provision\"><\/span><span style=\"color: #000080;\"><strong>What is the penalty for failure to comply with the FLA Provision?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Failure to file the return by the due date will be considered a breach of FEMA, and the penalty clause may be enforced.<\/li>\n<li>The penalties for violating the law or filing false information under the FEMA Act is 300 percent of the amount involved in the violation or Rs. 2 lakh if the offence is non-quantifiable; if the violation continues every day, the penalty is Rs. 5,000 for each day after the first day during which the violation continues; and the power to compound the violations has been delegated to all Regional Offices of RBI without any limit on the amount.<\/li>\n<li>The\u00a0maturity\u00a0for the filing of FLA return is on 15 of July of that year.\u00a0just in case\u00a0the FLA return filed\u00a0is predicated\u00a0on unaudited accounts, a revised form\u00a0should\u00a0be filed\u00a0supported\u00a0audited accounts before\u00a0the tip\u00a0of September of\u00a0the identical\u00a0year.<\/li>\n<li>Regional offices of RBI have the facility to compound contraventions with none limit.<\/li>\n<li>However above doesn&#8217;t apply to the regional offices of Kochi &amp; Panaji<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Companies that have received FDI or made ODI must comply with the annual return on FLA requirements. If you&#8217;re a foreigner wanting to start a business in India contact us.<\/p>\n<p><strong>Popular Articles :\u00a0<\/strong><\/p>\n<p><em><a href=\"https:\/\/carajput.com\/blog\/know-about-foreign-direct-investment-in-india\/\"><strong>Advantages and know details about Startup India Scheme<\/strong><\/a><\/em><\/p>\n<p><a href=\"https:\/\/m.rbi.org.in\/Scripts\/FAQView.aspx?Id=95\">FAQ&#8217;s on Annual Return on Foreign Liabilities &amp; Assets (FLA)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meaning of Foreign Liabilities &amp; Assets Annual Return (FLA Return) Annual Return on Foreign Liabilities and Assets (FLA Return) Under FEMA 1999. As more companies involve themselves with foreign investments, the importance of the\u00a0interchange\u00a0Management Act (FEMA) regulations and their compliance becomes\u00a0a significant\u00a0a part of\u00a0the companies\u2019 operations. We needed to understand meaning of the FLA Return, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[258,14],"tags":[3244,3055,3054],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4539"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=4539"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4539\/revisions"}],"predecessor-version":[{"id":16202,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4539\/revisions\/16202"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=4539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=4539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=4539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}