NBFC ANNUAL COMPLIANCES

NBFCs are required to file various returns with RBI to report the details of their financial transactions, Branch Information, Statutory Investments, and other compliances through various forms as provided by RBI for different categories of NBFCs. This article is focused on such compliances to be fulfilled by NBFCs.

Following is the checklist of NBFC compliances.

List of Quarterly Returns

Type of NBFC	Name of the Return	To be reported within	Due Date
NBFCs-D	NBS1	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFCs-D	NBS2	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFCs-D	NBS3	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFCs-D	Branch Information return	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFCs-D	Reporting to Central Repository of Information on Large Credits (CRILC)	Within 21 days of the end of each quarter	21st April/July/Oct./Jan.
NBFC-ND-SI	NBS7	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFC-ND-SI	NBFCs-ND-SI 500cr	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFC-ND-SI	ALM-1	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFC-ND-SI	Branch Info return	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
NBFC-ND-SI	Reporting to Central Repository of Information on Large Credits (CRILC)	Within 21 days of the end of each quarter	21st April/July/Oct./Jan.
NBFC-ARC	ARC	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.
RNBCs	NBS3A	Within 15 days of the end of each quarter	15^th of April/July/Oct./Jan.

List of Half Yearly Returns

Type of NBFC	Name of the Return	To be reported within	Due Date
NBFCs-D	ALM (NBFC-D)	Within 30 days of closure of the half-year	30th April/ Oct.
NBFC-ND-SI	ALM-2 & 3	Within 30 days of closure of the half-year	30th April/ Oct.

List of Annual Returns

Type of NBFC	Name of the Return	To be reported within	Due Date
NBFCs-D; NBFC-ND-SI; NBFC-ARC; The NBFC-ND-having asset size of Rs. 100 crores – Rs. 500 crores; NBFC-ND-having asset size below Rs. 100 crores; and RNBCs	Statutory Auditor Certificate	Within one month from the date of finalization of the Balance Sheet. Not later than 31st December
NBFC-ND-SI	ALM- (NBFC-ND-SI)	15 days	15th April
The NBFC-ND-having asset size of Rs. 100 crores – Rs. 500 crores	NBS-9	60 days	30th May
NBFC-ND-having asset size below Rs. 100 crores	NBS-8	60 days	30th May
RNBCs	NBS1A	6 months	30th Sept

Mandatory intimations for all categories of NBFCs

Apart from the above-mentioned forms, NBFCs are also required to report the following compliances to RBI:

Annual Report: Every NBFC must report to RBI their Annual Report within 15 days of holding the Annual General Meeting (AGM). The Annual report shall be accompanied by an Audited Balance Sheet, Profit & Loss Account, and a copy of the Director's Report.
Statutory Auditors Certificate: Every NBFCs must file a Statutory Auditors Certificate providing that the company is engaged in the business of NBFC within one month from the date of finalization of the Balance Sheet.
Annual Returns: Miscellaneous NBFC accepting/holding deposits shall submit the annual return providing the requisite details in the prescribed format.
Changes in Directors or Principal Officers: Where there is any change in Director/Principal Officer of the company, the details for such change must be reported to RBI.

The NBFCs must fulfill the mandatory compliances as per RBI Direction along with other statutory compliances which include filing of Form AOC-4, MGT-7, ADT-1, Income tax returns, etc. to avoid penal provisions to be imposed on the company.

NBFC ANNUAL COMPLIANCES

Related Articles