Must file an annual return on Form fc-4, and the time limit for filing the Form fc-4 return

Rule 17(1) of the foreign contribution (regulation) rules in 2011 requires that every person who receives a foreign contribution under the act is required to submit a signed or electronically completed report in electronic format on form fc-4 along with scan copies of the expenditure and income statement, receipts, and payments account, as well as the balance sheet for each financial year that begins on April 1, within 9 months from the closing of the financial year. So form FC-4 must be filed by December 31 of the previous financial year. For FY 2019–20, the initial filing date for fc-4 was December 31, 2020 (as per rule 17(1)). But it was extended until June 20, 2021, through a public notice dated November 23, 2020.

Rules 17(8) also require that the nil report be made available regardless of foreign contributions received during the fiscal year.

Documents to submit with an annual return on Form FC-4

Certificate from the chartered accountant (not required if there was no foreign contribution utilized during the financial year).
Audited accounts comprise the balance sheet, income and expenditure accounts, receipts, and payment accounts (not necessary if no foreign contribution was received or utilized during the financial reporting year).
The announcement by the boss functionary (administrator/president/secretary/chief/m.d.): this statement is important for structure fc-4.
The individual manages a statement of account at the bank with a single foreign contribution account, and an official of that bank properly signs it.
Late filing fees or penalties for a FC-4

Offense and Penalty

Offense, the penalty compounding officer with expertise
- Non-furnishing of returns within three months from the 31st day of December each year.
- The penalty of 22% of the foreign contributions received during the fiscal year, or the equal of Rs. 10,000, or the lesser amount.
- The director, director, or deputy secretary in charge of the foreign contribution (regulation) act section of the foreign division in the ministry of home affairs.
- Non-furnishing within three months and up to six months from December 31 each year.
- The penalty of 3 percent of the foreign contributions received in the year of financial transactions or the equal of Rs. 50,000, whichever is less.
- The director or deputy secretary in charge of the foreign contribution (regulation) act division of the foreign division in the ministry of home affairs.
- Non-furnishing of returns within six months, up to one year following December 31 every year.
- The penalty is 4 percent of the value of foreign contributions received in the financial year, or the equivalent of Rs. 2 lakh, whichever is less.
- The director or deputy secretary in charge of the foreign contribution (regulation) act division of the foreign division in the ministry of home affairs.
- Non-furnishing of returns after a year, for up to two years from the 31st day of December each year.
- The penalty of 5 percent of the foreign contributions received during the financial year, or the equal of Rs. 5 lakh, whichever is less.
- The director or deputy secretary oversees the Foreign Contribution (Regulation) Act section of the Foreign Division in the Ministry of Home Affairs.
- Non-furnishing after two or three years from December 31 each year.
- The penalty of 10 percent of the total foreign contributions received in the fiscal year, or the equal of Rs. 10 lakhs, or the lesser amount.
- The director or deputy secretary oversees the Foreign Contribution (Regulation) Act section of the Foreign Division in the Ministry of Home Affairs.