FLA Return is described as Foreign Liabilities And Assets Return which is required to be     submitted by all the Indian Companies which have received Foreign Direct Investment (FDI) or made Overseas Investment abroad in the previous year(s) including the current year i.e. who holds foreign Assets or Liabilities in their Balance Sheets

 

ELIGIBILITY

  • The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted directly by all the Indian companies which have received FDI (foreign direct investment) and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year i.e. who holds foreign Assets or Liabilities in their Balance Sheets.
  • If the Indian company does not have any outstanding investment in respect of inward and outward FDI as on end-March of reporting year, the company need not submit the FLA Return.
  • If a company has received only share application money and does not have any foreign direct investment or overseas direct investment outstanding as on end-March of the reporting year, then that company is not required to fill up FLA return.
  • If the company has not ‘received any fresh FDI and/or ODI (overseas direct investment)’ in the latest year but the company has outstanding FDI and/or ODI, then that company is required to submit the FLA Return.
  • Shares issued by reporting company to non-resident on Non-Repatriable basis should not be considered as foreign investment; therefore, companies which have issued the shares to non-resident only on Non-Repatriable basis, is not required to submit the FLA Return.
  • If the Partnership firms, Branches or Trustees have any outward FDI outstanding as on end-March of the reporting year, then they are required to send a request mail to get a dummy CIN number which will enable them to file the Excel based FLA Return.

 

PROCEDURE FOR SUBMISSION

  • Company need to download the updated FLA form from the RBI website.
  • Companies are required to fill in the excel based form and submit via e-mail to the RBI
  • Due date for submission of this form is July 15 every year.