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Instructions to fill application form to report the FC-TRS to Reserve Bank of India according to Annexure II of
FEMA Notification No 20 dated May 3, 2000

FORM FC - TRS (ANNEX-II to A.P. (DIR Series)


Circular No.110 of 12.06.2013)

mark will be shown above the respective field. You may


correct the data and save the form once again to clear the
error.

General Instructions

Every field in the electronic form has associated help text. On


placing the mouse cursor over a field, a tooltip will pop-up
describing the type of data and valid values that it can accept.

Foreign investment comes into India in various forms.


Following the reforms path, the Reserve Bank of India has
liberalized the provisions relating to such investments. All
foreign investment through any of the channels are required
to be reported to RBI under FEMA, 1999.
In case of transfer of shares by way of sale from resident to
non-resident/ non-resident to resident, the resident
transferor / transferee / Investee Company/ NRI transferor /
Non Resident transferor should file FC-TRS within 60 days
from receipt of funds.
For the initiator (the resident/ NR / NRI who is reporting the
transaction)
1. In case of transfer of non-repatriable shares from NRI to
NR, the reporting may be done by NRI transferor.
In case of acquisition of shares by NR on the stock
exchange in terms of Notification No. 279 dated July 10, 2013
or in case of sale of shares by NR on the stock exchange,
reporting may be done by the NR transferor / transferee.

A small note is also displayed for some of the fields indicating


the constraints in the input values.
Fields marked with * are mandatory and should be filled in
before a form can be submitted on e-Biz portal.
Some of the fields can accept multiple values. If you have to
furnish more than one item, you may use the
button to
add more rows. Similarly, if you want to remove a row, you
may use

button.

Your electronic application form can also embed documents in


digital format as documentary evidences to be used by
department for verification. You may click on
button
to choose the document file to upload. Clicking on
button will remove the attached document from the
electronic form.

In all other cases the reporting may be done by the Resident


transferor / transferee.

The Other Attachment(s) section in the e-Form can be used


for communicating to the department, when department asks
for clarification or requests for further documentary
evidences.

2. Documents may be compiled by the Resident/ NRI/ NR


(initiator) transferor/ transferee. The initiator may obtain
digital signature and register on the e-biz site. He / she will fill
up the questionnaire and the form FC - TRS online. Relevant
part of the documents mentioned will be scanned and
uploaded on the portal along with the RBI/ FIPB approvals
wherever necessary.

The e-form needs to be digitally signed using a digital


signature by the applicant. Upon signing, it will prompt
applicant to save the e-Form. If applicant wishes to make any
modifications to an already signed e-Form, right-clicking on
the signature field and choosing Clear signature will enable
editing of form and any modifications can be made to the
form.

3. The initiator may submit original FIRC to the AD Bank.


4. When the form is certified by the AD Bank, the certificate
may be submitted to the investee company along with other
papers for transfer of shares.
The electronic form (e-Form) can be downloaded from
service landing page to your computer and can be filled
offline. You will require internet connection only while
downloading the e-Form and while submitting the completed
e-Form on the eBiz website.
If you had chosen Download Prefilled Form option while
downloading the e-Form, then, some fields may already come
with pre-filled data. You may change this data if you wish.
As you progress completing the e-Form, you may save the
form as many times as you wish, just like any other
document. Saving the document helps you to check if there
are any errors in the data that you have already entered. In
case of errors, the form will show an error message and a

The signed form can now be uploaded on to e-Biz portal using


Upload and Submit Form link on the e-Biz web site.
Field instructions

Enter the date of issue of shares / convertible debentures/


others. Enter in dd-mm-yyyy format.
1

Enter the Name of the investee / Indian company


Enter the Permanent Account Number (PAN) of the
investee company given by the IT department
Enter the address and the contact details of the
investee / Indian company.

In the address field, address line 1, town/city, state, district


and Pincode are mandatory fields. Fax, Telephone and email
id are also mandatory fields.

Instructions to fill application form to report the FC-TRS to Reserve Bank of India according to Annexure II of
FEMA Notification No 20 dated May 3, 2000

Provide details regarding the main business activity of the


company. Select the appropriate NIC code (2008 list) for the
business activity.
2

Please enter whether FDI is allowed under Automatic


Route or Approval Route

If under approval route, upload the government approval.


Select the FDI cap allowed for the sector as per the FDI policy.
3

Select the Nature of Transaction from the provided


options.

Please provide details of the buyer.

Enter the Name, address and country of the buyer.


Enter the contact details fax , telephone and email ID of the
buyer.
Select the constitution / nature of investing entity from the
dropdown. If the nature of investing entity is not one of the
provided options, then select others and specify the nature in
the adjoining text box.
Note:

FVCI: The investment/s is/are being made by FVCI


under FDI Scheme in terms of Schedule 1 to
Notification No. FEMA.20/2000-RB dated May 3,
2000.
SWF mean a Government investment vehicle which
is funded by foreign exchange assets, and which
manages those assets separately from the official
reserves of monetary authorities.

Enter the date of incorporation of the investing entity from


the calendar control. Also enter the place of incorporation
5

Please provide details of the seller similar to section 4.

Please enter particulars of earlier Reserve Bank / FIPB


approvals

Select if RBI / FIPB approval is required for this transaction. If


yes, please upload the approval letter from RBI / FIPB or both.
7

Please provide the details regarding shares /


compulsorily and mandatorily convertible preference
shares (CMCPS) / compulsorily and mandatorily
convertible debentures/ others (such as FDI compliant
instruments like participating interest rights in oil
fields, etc.) to be transferred

Please enter the details regarding mode of transfer in the first


table. Select the nature of transfer from the dropdown. If the
nature of transfer is not one of the provided options, then
select others and specify the nature in the adjoining text box.
Enter the date of transfer corresponding to each nature of
transfer from the calendar control.

Enter the number of equity shares/ CMCPS/ CMCDs/ others


transferred.
In the second table, enter the details regarding type of
security transferred. Against a particular nature of instrument
in the table, please enter the number of security, the
maturity date (if applicable), the face value, and the
negotiated price per instrument. System will calculate the
amount of consideration as a product of number and
megotiated price and populated in the form.
Also, The total amount of consideration will be calculated by
system and displayed in the table.
Select whether the instrument is FDI compliant
Select whether the shares / instruments are repatriable
(applicable only to NRI transferors)
8

Select whether the equity shares / CMCPS / CMCDS /


others are listed on Stock Exchange. If yes, provide the
name of the stock exchange where it is listed.

Provide the price as per valuation guidelines


Provide the price as per Chartered Accountants / SEBI
registered Category I Merchant Banker. Also, attach the
valuation report as per valuation guidelines
Select if the transaction is pricing compliant.
9

Enter details regarding foreign investments in the


company.

Provide the number of shares and percentage holding before


the transfer.
Provide the number of shares and percentage holding after
the transfer.

Declaration:
Applicant will attach the declaration in the attachment
section in the form. Please use this attached copy of
declaration

Declaration by the
transferor.docx

Electronic Attachments:
Upload the file using the
link and if you wish to
remove any file, use the
link.
I.
Certificate indicating fair value of shares from a
Chartered Accountant / SEBI registered Category I
Merchant Banker.
II.
Copy of Broker's note if sale/ purchase is made on
Stock Exchange.

Instructions to fill application form to report the FC-TRS to Reserve Bank of India according to Annexure II of
FEMA Notification No 20 dated May 3, 2000

III.

IV.

V.

VI.

VII.
VIII.
IX.

Declaration from the NR buyer to the effect that he


is eligible to acquire shares / compulsorily and
mandatorily convertible preference shares /
debentures/others under FDI policy and the existing
sectoral limits and conditionality (such as minimum
capitalization norms, etc) and Pricing Guidelines
have been complied with
Declaration from the FII/sub account to the effect
that the individual FII / Sub account ceiling as
prescribed has not been breached
Extracts of Share Purchase Agreement (SPA)
containing:
Name of the buyer and seller
Name of the investee company
No. of shares to be transferred
Price at which they are transferred
Mode of transfer
Date of transfer
Any other relevant information
If the sellers are NRIs/ erstwhile OCBs, the copies of
RBI approvals, if applicable, evidencing the shares
held by them on repatriation/non-repatriation basis
No Objection/Tax Clearance Certificate from Income
Tax Authority/ Chartered Accountant
Approval letter from RBI / FIPB
Power of attorney (if signatory is agent)

Any other attachments: Add any other document if required.


Verification:
Enter the following details in this section:
I. Select whether the signature is provided by Agent or
Declarant.
II. If the signature is provided by Agent, attach the power
of attorney document.
III. Name of the Person
IV. Place
V. Date of signing the electronic form
VI. Designation
VII. Digital Signature of Authorized signatory
Office routing:
I. Kindly select the Authorized Dealer Bank to whom the
form has to be submitted.
II. Select the Bank name and branch name from the
options displayed in the form.
Appendix:
I. Kindly fill complete and correct information in relevant
fields in the Application Form.

II. Applicant will be solely responsible for incomplete or


incorrect information.
III. Before filing the form, applicant needs to obtain the
scanned copy of the documents mentioned in the
attachments section so that they can be attached in
the form before submission.

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