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RBIRBI and FEMAFLA

FLA return (foreign liabilities and assets)

The annual RBI return for an Indian entity that has foreign direct investment, overseas direct investment, or both on its balance sheet.

Next due

15 Jul 2027

Later this yearIn 307 days

For FY2026-27

Regulator
RBI
Category
RBI and FEMA
Form
FLA
Last verified
2026-09-01
Read statutory basisOpen filing portal

The FLA return is due by 15 July each year for the previous financial year. The entity may file with unaudited figures and later seek RBI approval to revise the return after audit. An entity regulated by IFSCA follows IFSCA instructions instead of filing this return with RBI.

What changed

The 15 July date and FLAIR channel remain current. The July 2026 FAQ now states the IFSCA filing split expressly.

All dates this year

Past dates are kept, so a late filing can still be dated.

15 Jul 2027FY2026-27In 307 days

The rule

Stated as the law states it, so you can work out any period yourself.

Annual FLA return

File the FLA return by 15 July for the previous financial year.

Who must comply

  • An Indian company that has received foreign direct investment and holds outstanding foreign liabilities or assets at the financial year end
  • An Indian company that has made overseas direct investment and holds outstanding foreign assets at the financial year end

Carve-outs

  • An entity regulated by IFSCA files under IFSCA instructions instead of filing the return with RBI

Statutory basis

Read the provision here where we hold it, or on the regulator's site.

Before you file

  • Collect the foreign liability and foreign asset balances for the financial year.
  • Use unaudited figures if the audit is not complete by 15 July.
  • Get access to the FLAIR portal.

How to file

  1. 1Open the FLAIR portal.
  2. 2Enter the entity and financial information for the previous financial year.
  3. 3Submit the return by 15 July.
  4. 4Ask RBI for approval before you submit a revised return after the audit.

RBI FLAIR portal

Recent changes affecting this

From the regulator's own circulars and notifications.

rbi31 Aug 2026Press release

Survey of Foreign Liabilities and Assets of Mutual Funds 2025-26

The Reserve Bank of India released the results of the 2025-26 survey on foreign liabilities and assets of Indian mutual funds and their asset management companies. The survey covers 53 mutual funds. As of end-March 2026, foreign liabilities of mutual funds reached US$ 31.5 billion, while overseas assets grew to US$ 10.2 billion. Foreign liabilities of asset management companies increased to US$ 8.7 billion. The data reflects market values for mutual fund units and foreign assets. The report identifies major investment destinations for mutual fund units and sources of foreign direct investment in asset management companies.

Common questions

Can the FLA return use unaudited figures?

Yes. File by 15 July with unaudited figures if necessary. After the audit, obtain RBI approval before filing a revised return.

Does an IFSCA-regulated entity file FLA with RBI?

No. The RBI FAQ directs an IFSCA-regulated entity to file under IFSCA instructions instead.

Last verified 2026-09-01. Confirm against the official source before you rely on it.