NBFC Annual Filing and Other Compliances
NBFC Annual Filing refers to Annual Return of registered NBFCs as per Companies Act 2013. Other related compliance for NBFC are statutory filings for RBI Prescribed returns, TDS, GST, Income Tax and other filings as applicable as per the nature of registered NBFC Company.
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In order to ensure that your incorporated NBFC (Non Bank Finance Company) runs effectively, there are certain compliance which need to fulfill as and when arises. For effectively, efficiently and economically running of company, statutory compliance need to fulfill timely, timely compliance ensure saving in unnecessary and unproductive expenditure in terms of penalty, late fees fine, interest etc.
Compliance of registered NBFC Companies are broadly categorized in three category; one is NBFC Annual Filing Compliance, Monthly / Quarterly statutory Compliance and another is event based Compliance.
NBFC Annual Filing Compliance are such return and forms which need to file annually irrespective of the fact whether any business activity carried on during the year or not. Such Annual Compliances are required to be filed in the form of return which has predetermined dates to be met. All NBFC Annual Filing Compliance need to be filed online on MCA Portal.
Monthly / Quarterly Statutory Compliance are such returns and forms which need to file on monthly / quarterly basis if the Public limited company also has registered GST Number; TAN number for TDS return filings; PF and ESI registered entity to fulfil labour law compliances.
Event based compliance are such return and forms which need to file as and when any event arises such as Change in Registered office Address, Resignation / removal of Partner, Addition / Admission of new Partner, any other event etc.
Certain Annual Compliance required to be fulfill by registered NBFCs are:
NBFC Annual Filing RoC Compliance | |||
Form – AOC-4 CFS (NBFC) | Annual Return of NBFC | It cover Consolidated Financial Statement comprises of Profit & Loss and Balance Sheet | Within 30 days of Annual General Meeting |
Form – AOC-4 NBFC (IND AS) | Annual Return of NBFC | It cover standalone financial statement comprises of Profit & Loss and Balance Sheet | Within 30 days of Annual General Meeting |
Form – MGT-7 | Annual Return of NBFC | It cover annual return with details of Board Meetings held by Public Limited Companies | Within 60 days of Annual General Meeting |
RBI Compliance for NBFC | |||
Form NBS-1 | For NBFC Accepting public Deposit | It is quarterly return providing details of asset and liabilities, Profit and Loss | Within 15 days from the end of quarter |
Form NBS-2 | For NBFC Accepting public Deposit | It is return on compliance of prudential norms by NBFC such as Capital Adequacy, Asset Classification, provisioning | Within 15 days from the end of quarter |
Form NBS-3 | For NBFC Accepting public Deposit | It is return on investment made by NBFC, Statutory investment in liquid asset such as CG/SG Securities, Treasury Bills, etc | Within 15 days from the end of quarter |
Form NBS-4 | For NBFC Accepting public Deposit | It is return on public deposit whose maturity is not met by NBFC. This return is called by RBI anytime | Within 30 days from the end of the year |
Form NBS-7 | For NBFC-ND-SI | It is return on compliance of prudential norms by NBFC such as Capital Adequacy, Asset Classification, provisioning | Within 15 days from the end of quarter |
Form NBS-8 | For NBFC non deposit taking (Asset size above 100 crore) | It is return on financial indicator comprises of Asset & Liabilities and exposure to sensitive sector | Within 60 days from the end of year |
Form NBS-9 | For NBFC non deposit taking (Asset size below 100 crore) | It is return on financial indicator comprises of Asset & Liabilities and exposure to sensitive sector | Within 60 days from the end of year |
Form ALM | Asset Liability Management for all NBFC | It is return on Asset Liability management bucket wise as per their maturity. This return required to be filed on quarterly (ALM-1), Half-yearly (ALM-2) and yearly basis (ALM-yearly). | As per requirement |
SMA-2 Return | Return on stressed assets | It is required to be filed to early identification of stressed assets | Every Friday of the week |
CRILC | Return on stressed assets | It is required to be filed to early identification of stressed assets | Within 21 days from the end of quarter |
Income Tax Compliance | |||
ITR-5 | Income Tax Return | Income Tax return also comply with Tax Audit Report and annexure | 30th September |
The dates provided herein are the statutory dates, these might be change, during last hour considering the status of Return filed, and respective department might increase the date for return filings. We advice our clients well before time for all applicable statutory return and NBFC Annual Filing compliance.
With the ever changing Law and regulatory requirements, we keep on track and advise the same on timely manner in order to ensure proper compliance for NBFC Annual filing and other statutory returns. We at ReturnFilings.Com will understand the purpose of your compliance for NBFC in India and thereafter will provide you detailed analysis mentioning the law requirement and compliances need to fulfil in order to operate it economically and efficiently. We at ReturnFilings.Com will provide you details of regulatory returns for NBFC Annual Filing in order to ensure proper smooth and timely compliance. We at ReturnFilings.Com are determinate to provide end to end solution; our motto is you concentrate on your business while we at ReturnFilings.Com will take care of all your compliance need related to NBFC Annual Filing and other related compliance.