Reporting Entity/ies need approval from RBI for filing returns on Foreign Liabilities and Assets for the year 2018-19 beyond July 31, 2019; RBI announces
Through a recent announcement in the Foreign Liabilities And Assets Information Reporting (FLAIR) System, the Reserve Bank of India (“RBI”) has announced that the reporting entity needs to take approval from RBI in case of submission of FLA – 2019 after due date, which is July 31, 2019.
The procedure of obtaining the approval is provided below for reference.
Procedure: Visit https://flair.rbi.org.in/fla → Login → Click Please click here to get the approval to fill FLA form for current year after due date (31/07/2019) / for previous years → select 2019 → Click “Request”.
However, RBI has further clarified that, the submission of FLA returns for previous years will be activated after September 15, 2019.