Annual Return on FLA - Information Reporting (FLAIR) – Online Web Based Reporting System - As on July 21, 2021

Chapters / List

1. Which entities are required to submit the FLA Return?

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2. How does the company report data and submit the FLA return to the RBI?

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3. How can an entity submit online Annual Return on Foreign Liabilities and Assets (FLA Return)?

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4. When does an entity need to fill registration form?

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5. What are the required documents for registering on the FLAIR portal?

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6. Who is an authorized person?

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7. What is authority letter?

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8. What is verification letter?

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9. What are the checks required for successful error free verification?

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10. What is relevance of username and email of authorised person in registration form?

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11. Does an entity require to provide sign or seal of the signing authority in the authority letter?

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12. Where would I receive the login credentials for entity-user?

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13. What is the validity period of default password sent to the authorized person’s email?

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14. What is the validity of the OTP sent to the authorized person’s email for login?

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15. I have registered as an entity-user but not yet received password to log-in the system. Why?

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16. What should I do if registration login page/ FLA online form hangs and I couldn’t enter the details?

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17. What if I do not receive my OTP / OTP gets delayed while filing the FLA form?

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18. I entered the wrong password several (5) times and now I cannot login the FLA webpage, what should I do?

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19. What is the procedure to change the details of Authorized Person for FLA form submission?

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20. If an entity has forgotten their username and password, should they re-register on the portal?

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21. When should an entity raise a de-activation request?

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22. How can an AIF (Alternative Investment Fund) file the FLA Returns?

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23. What needs to be mentioned under Unique Identification Number (UIN) for AIF at the time of FLA user registration?

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24. Is an AIF registered as Trust, required to file FLA? If yes whether single FLA return to be filed for the AIF or separate FLA return to be filed for each scheme under the AIF?

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25. I am not able to furnish information in Identification Details for “Name of the Indian Company”, “PAN Number”, “CIN Number” and “Email (Head of institution)”?

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26. Who is the contact person?

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27. What numbers should an entity use to file the FLA returns if the account closing date is different from 31st March of the respective year?

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28. Where can we find the detailed description of NIC-2008 code (item-6)?

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29. If an entity has more than one activity during the year, then which NIC code should be reported by company (item-6)?

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30. What are classes/types that a company may have?

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31. What is the identification of the reporting company (in terms of inward FDI) stated in item no 9?

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32. What is the meaning of Foreign Technical Collaboration (item-11)?

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33. Our Entity Name/CIN/LLPIN/UIN has changed. Since this is auto populated in Section I, how can I change the same?

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34. Our Head of the Institution has changed. How can we change this details in Section I?

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35. In case we re-register on the portal, how will we get the documents of earlier FLA Returns filled?

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36. How is Section II, item 1.0, i.e., Total Paid-Up Capital calculated?

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37. I am unable to enter the paid-up capital of the entity in item 1.0 of Section II. What should I do?

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38. How is Section II, item 2.3, Non-Resident Equity and Participating Preference Shares Capital % calculated?

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39. Whether, in Section II- Item 2.3, the Non-Resident Equity and Participating Preference Shares Capital (%) is being calculated with respect to Item 1.0 (Total Paid-up capital) or Item 1.1 (Total Equity and participating Preference Shares Capital)?

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40. In the Section II Block 2 of FLA form, what should I take for convertible preference share?

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41. Item number 3, 4, 5 should be reported in INR LAKH. What does INR LAKH mean?

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42. Where should we report the premium on issue of Equity Share Capital?

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43. What should we include in item 5, Sales and Purchase (in Section II)?

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44. What is meant by “Month and Year of receiving FDI first time in our Company/LLP/Others”?

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45. What is “Edit / View / Delete FDI (DI) Details” details in section III, item no. 1.b FDI and 2.b DI?

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46. What is Save/Add FDI (DI) in Section III, item 1.b FDI and 2.b DI?

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47. In Section III Block 1 of FLA form, which will be the date of first receipt of FDI received?

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48. What is meant by “Disinvestments in India during the year” / “Disinvestments abroad during the year”?

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49. Where should we report the non-participating preference share issued to non-resident?

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50. Where should we report Fully/Partially/Non-convertible debentures issued to the non-residents in FLA Return?

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51. What treatment should be given to share application money received from non-resident investor?

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52. On validating section III of the FLA Return we are getting the error message regarding mismatch of non-resident equity and participating preference share holding (%) between Section III and Section II. How should we resolve the error?

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53. What constitute in the Equity Securities under portfolio Investment (3 of Section III)?

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54. What constitute in the Debt Securities under portfolio Investment?

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55. In case of item 4. Other Investment (section III), it is written that outstanding liabilities with foreign unrelated parties to be given. Please clarify what transactions are to be reported under the same?

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56. Will EEFC account with Bank come under item 4. Other Investment of section III (Currency and Deposits)?

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57. Whether, any assets or liabilities for Indian party (i.e., domestic assets and liabilities) are to be included in the FLA Return?

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58. What exactly is the meaning of 1.b ODI in Section IV under Foreign assets?

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59. If the overseas subsidiaries/ joint venture company’s accounting period is different from the reference/reporting period (i.e., April-March) in the Return, then what information should we furnished in Section IV?

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60. What is “Edit / View / Delete ODI(DI)” details in Section IV, item no. 1.b ODI and 2.b DI?

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61. What is Save/Add ODI(DI/PI) in Section IV, item 1.b FDI, 2.b DI and 3.b PI?

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62. What information should we report in item 3.7, item 3.7.1, item 3.8, item 3.8.1 in Section IV?

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63. In case where overseas company (DIE) is unlisted, how can we calculate the market value of overseas equity investment using OFBV method under 1.b ODI of Section IV?

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64. How will we do the valuation of the equity capital for listed DIE?

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65. What constitute in the Equity Securities under block 3, PI-Portfolio Investment Abroad in Section IV?

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66. What constitute in the Debt Securities under Portfolio Investment Abroad, Section IV?

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67. In case of 4. Other Investments (Section IV), it is written that outstanding claims on foreign unrelated parties to be given. Please clarify what transactions are to be reported under the same?

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68. I have observed that I have entered wrong data in one Section of the FLA Form that I have filled. How can I modify my inputs?

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69. How would I get a copy of the FLA Form I have submitted to RBI?

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70. How would an acknowledgement be provided to us on submission of the form?

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71. What should we do if we do not have the audited numbers ready before the due date to file the FLA return?

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72. How can I get approval for revising the previous year returns as mentioned in Q71?

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