FOREIGN LIABILITIES AND ASSETS INFORMATION REPORTING (FLAIR) SYSTEM
RBI has introduced FOREIGN LIABILITIES AND ASSETS INFORMATION REPORTING (FLAIR) SYSTEM for filing FLA Return Online.(https://flair.rbi.org.in/fla/faces/pages/login.xhtml )
Annual return on Foreign Liabilities and Assets (FLA) is required to be submitted by all the companies which have received FDI and/or made overseas investment in any of the financial year on July 15 every year.
 The existing mechanism of email based submission of FLA forms was discontinued with effect from the year 2018-19.
Indian entities which do not comply with the said requirement will be treated as non-compliant with FEMA.
RBI Notification:Â https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11607&Mode=0
How to Register with FLAIR PORTAL
- To access the URL https://flair.rbi.org.in., any of the browsers viz; Internet Explorer, Google chrome, Firefox etc. can be used, as all of these would support this application.
- The entity has to register on the portal by clicking Registration for New Entity Users.
- The entity has to fill the details in the FLA user registration form, upload the documents mentioned (Verification Letter and Authority Letter) and click submit to complete the registration.
- After successful registration, user id and default password will be sent to the authorized person’s mail id. Using this user id and password, entities can login to the FLAIR portal and file the FLA Return.
How to Change authorised person on FLA- FLAIR Portal
STEP-1
you need to deactivate the existing account by sending email to [email protected] along with CIN no of your entity, username, New authority letter etc.
STEP-2
Re-register your entity with new authority letter and verification letter after receiving email communication on deactivation.
When should an entity raise a de-activation request?
Entities should raise deactivation request in the following cases:
- Change in authorized person’s details.
- Change in company CIN/LLPIN/UIN during the latest financial year.
- Change in entity name/address
If an entity has forgotten their username and password, should they re-register on the portal?
No, the company should raise their query by sending an email to RBI ([email protected]) mentioning the Company Name and Company CIN/LLPIN/UIN in that mail. FLA support will provide the company with their username and authorized person’s email id which was used at the time of registration. They can reset the password thereafter.