FLA Returns Under FEMA
File before 15th July Every Year

Any Indian company, LLP, or other entity receiving FDI or making ODI investments in the current financial year must file an FLA return. Entities with outstanding foreign assets or liabilities from previous years also need to file.

The FLA return must be filed by July 15th every year. A revised return can be filed by the end of September if required.

Missing FLA return last date can result in penalties up to three times the amount involved in the violation or Rs. 2 lakhs if non-quantifiable. Continued delays attract a penalty of Rs. 5,000 per day and a late submission fee of Rs. 7,500 per return.

Yes, FLA returns are filed online through the RBI’s FLAIR portal. The process involves creating a business user account, logging in, filling out the return form, and submitting it online.

Essential documents to file an FLA RBI return include the company’s CIN, PAN, authorized person’s PAN, authority letter, verification letter, financial statements, employee list, FDI/ODI details, and shareholding pattern.

Entities with nil outstanding foreign assets/liabilities at the end of the financial year, those that received only share application money without actual FDI, and companies issuing shares to NRIs on a non-repatriable basis are exempt from filing FLA return to RBI.

You can file the FLA return based on unaudited financial statements by the due date to avoid penalties and revise it later with audited statements, subject to RBI approval.

Visit the RBI FLAIR portal, fill in the entity and authorized person’s details, upload the required letters in the prescribed format, and submit. Login credentials will be sent to the provided email address.

Login using the provided credentials, navigate to the FLA return form, fill in the required details across five sections, and submit the form to receive an acknowledgment.

Absolutely. Seeking professional assistance ensures accuracy, compliance, and timely submission, helping you avoid penalties and late fees.