FEMA / FDI REPORTING CHECKLIST
Reporting foreign direct investment under FEMA through the RBI Single Master Form on the FIRMS portal.
Before Receiving Investment
- ☐ Confirm the sector is under the automatic route or obtain government approval
- ☐ Check sectoral cap and any entry conditions
- ☐ Obtain valuation report per FEMA pricing guidelines (Rule 21/DCF)
- ☐ Register the entity on the FIRMS portal (Entity Master)
On Receipt of Funds
- ☐ Receive funds through banking channels into the company account
- ☐ Obtain Foreign Inward Remittance Certificate (FIRC)
- ☐ Obtain KYC report on the remitter from the AD Bank
- ☐ Allot shares within 60 days of receipt of funds
Reporting Forms
- ☐ File Form FC-GPR within 30 days of allotment
- ☐ File Form FC-TRS within 60 days for transfer between resident and non-resident
- ☐ File Form ESOP for grant to non-resident employees, if any
- ☐ Attach board resolution, valuation report and CS certificate
Annual Reporting
- ☐ File the Foreign Liabilities and Assets (FLA) return by 15 July
- ☐ Reconcile the Entity Master with actual foreign holding
Note: Late reporting can be regularised by paying a Late Submission Fee (LSF) computed by the RBI. Ensure every FDI form is filed even where valuation is at par.