Single Master Form

On June 07,2018 RBI introduced RBI/2017-18/194 A.P (DIR Series) Circular No.30[download-attachment id=”4136″ title=”RBI.FDI Reporting in Single Form. June 7, 2018″], regarding filing of information about the companies or LLP who having foreign direct investment in India. This form is about reporting of FDI, filing period for SMF is June 28, 2018 to July 12, 2018. Entities which fails to file SMF will not be able to received foreign investment (including indirect foreign investment) and will be non-compliant with Foreign Exchange Management Act, 1999. Entities need to file two annexures that

1. Annx 1
2. Annx 2

Key Points of  Single Master Form

Following are key points for SMF form introduced by RBI

1. SMF Form Need to be filed online regarding foreign Investment in Company/LLP
2. Companies not complying with SMF will not be able to receive foreign investment and violation of FEMA
3. Letter of Authority required for filing SMF form with PAN.
4. Company/ LLP should also report indirect foreign investment received by it.
5. Due Date for filing SMF form is 12 July 2018

Key Content of SMF Form 

1. Details of Authorized signatory such as PAN , Phone number etc.
2. FCGPR filed or not , if yes that its acknowledgement no.
3. Details of FDI under various instruments
4. Date of issue
5. Whether reporting done to AD banker or not

What is due date for filing Single Master Form ?

Due date for filing Single mater form is 12 July 2018 , form need to be filed online by Director/CS/Designated Partner. Person who we be filing SMF form need to have detail letter of authority from company.  

What is penalty for non filing of Single Master Form ?

For NON Filing of SMF form company/ LLP will not be able to receive foreign investment (including indirect foreign investment) and will be non-compliant with Foreign Exchange Management Act, 1999 and regulations made thereunder.

Definition of Entity  

• A Company within the meaning of Section 1(4) of the Companies Act, 2013;
• A Limited Liability Partnership (LLP) registered under the Limited Liability Partnership Act, 2008;
• A startup which complies with the conditions laid down by Department of Industrial Policy and Promotion.