Last updated: February 20th, 2020 5:00 PM

FLA Return Filing

All Limited Liability Partnerships and Private Limited or Limited Companies that have received Foreign Direct Investment or made foreign investment are required to file FLA return. FLA stands for Foreign Assets and Liabilities and the return must be filed annually. In this article, we look at the process for filing FLA return in India.

Who should file FLA Return?

The FDI and/or made overseas investment in the previous year(s) including the current year has to file Annual return on Foreign Liabilities and Assets (FLA). Hence, any Company or LLP that has foreign assets or liabilities in the balance sheet must file FLA return.

Due Date for Filing FLA Return

The due date for filing FLA return is 15th of July every year. Non-filing of the return before the due date will be treated as a violation of FEMA and penalty clause for violation of FEMA could be invoked. If a company or LLP accounts are not audited before the due date of submission, then the FLA Return can be submitted based on the unaudited balance sheet. However, once the accounts get audited and if there are significant revisions from the provisional information submitted by the company, then a revised FLA return should be submitted by September 30th.

Procedure for Filing FLA Return

Submit the FLA return to the Reserve Bank of India (RBI) using the excel-based FLA Return form. Upon completing the form, send an email to the RBI from an official email address of any authorized person like CFO, Director, Company Secretary etc. On submitting the FLA return, it will forward an acknowledgement to the email address of the authorized person.

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