Non-Banking Financial Companies (NBFCs) play a crucial role in the financial sector by offering banking-like services without holding a banking license. To ensure that NBFCs operate effectively, efficiently, and economically, they must comply with various statutory requirements.
Failure to meet these compliance requirements can result in penalties, fines, and reputational risks. This guide provides a detailed overview of the annual, monthly, quarterly, and event-based compliance requirements for NBFCs in India.
NBFC compliance is broadly categorized into three types:
a. NBFC Annual Filing Compliance – Annual returns and forms to be filed irrespective of business activity.
b. Monthly / Quarterly Statutory Compliance – Periodic filings related to GST, TDS, and labor laws.
c. Event-Based Compliance – Filings required upon the occurrence of specific corporate events such as changes in the registered office, directorship, or business activities.
NBFCs are required to file annual returns with regulatory bodies such as the Ministry of Corporate Affairs (MCA) and the Reserve Bank of India (RBI). These filings ensure transparency and regulatory compliance.
| Form Name | Description | Due Date |
|---|---|---|
| AOC-4 CFS (NBFC) | Annual Return covering Consolidated Financial Statements (Profit & Loss and Balance Sheet). | Within 30 days of AGM |
| AOC-4 NBFC (IND AS) | Annual Return covering Standalone Financial Statements. | Within 30 days of AGM |
| MGT-7 | Annual Return providing details of Board Meetings and company structure. | Within 60 days of AGM |
RBI regulates NBFCs to ensure their financial stability and compliance with prudential norms. The following returns are required:
| Form | Applicable to | Description | Due Date |
|---|---|---|---|
| NBS-1 | NBFCs accepting public deposits | Quarterly return detailing assets, liabilities, and Profit & Loss. | Within 15 days from the quarter end |
| NBS-2 | NBFCs accepting public deposits | Compliance with prudential norms such as Capital Adequacy and Asset Classification. | Within 15 days from the quarter end |
| NBS-3 | NBFCs accepting public deposits | Details of investments, liquid assets, and securities. | Within 15 days from the quarter end |
| NBS-4 | NBFCs with unfulfilled public deposit maturities | Details of unpaid deposits (submitted upon RBI request). | Within 30 days from the year end |
| NBS-7 | NBFC-ND-SI | Compliance with prudential norms. | Within 15 days from the quarter end |
| NBS-8 | NBFC-ND (Assets > ₹100 Crore) | Financial indicator return, including asset-liability exposure. | Within 60 days from the year end |
| NBS-9 | NBFC-ND (Assets < ₹100 Crore) | Financial indicator return. | Within 60 days from the year end |
| ALM Return | All NBFCs | Asset-Liability Management return filed quarterly, half-yearly, or annually. | As per requirement |
| SMA-2 Return | NBFCs with stressed assets | Early identification of stressed assets. | Every Friday |
| CRILC | NBFCs with stressed assets | Return for tracking stressed assets. | Within 21 days from the quarter end |
| Form | Description | Due Date |
|---|---|---|
| ITR-5 | Income Tax Return including Tax Audit Report and annexures. | 30th September |
Certain filings are required when specific corporate actions take place:
| Form | Event | Due Date |
|---|---|---|
| INC-22 | Change in registered office address | Within 15 days of change |
| DIR-12 | Appointment/resignation of directors | Within 30 days of event |
| PAS-3 | Return of allotment of shares | Within 30 days of event |
| MGT-14 | Filing of resolutions with ROC | Within 30 days of event |
Adhering to regulatory deadlines is crucial to avoid penalties and maintain a good corporate reputation. Late filings can lead to fines, legal consequences, and restricted business operations.
We at ReturnFilings.Com specialize in NBFC compliance management, offering end-to-end solutions to ensure:
• Accurate and timely filings.
• Compliance with regulatory updates.
• Hassle-free documentation and expert consultation.
By adhering to the above compliance requirements, avoid penalties, and maintain good legal standing. For professional assistance, reach out to us on email: info@returnfilings.com or on whatsapp: https://wa.me/919910123091 to ensure all statutory obligations are met on time.
For further insights, you may find the following resources helpful:
• Process of Registering an NBFC in India.
• Process of obtaining Small Finance Banking License.
• Process of Registering / incorporation of Nidhi Company.
• Nidhi Company Annual Compliance: Filing Requirements, Deadlines, and Legal Obligations.
