Everything you should know about FCRA

• click to rate

  Posted by Rakesh Kumar May 29, 2023 - Filed in Business - #  #ngo  #fcra  #fcra ngo registration  - 94 views
  

   

  As Consultants in FCRA registration for trusts and Non governmental organisations, we understand the importance of ensuring your organisation is compliant with all related rules and regulations. If there is something that fails to comply with FCRA registration requirements can result in severe penalties, including the revocation of your organisation's registration.

  

   

  In this article, we will provide you with a comprehensive guide to FCRA registration for trusts and NGOs, including who needs to register, how to register, and the documents required for registration.

   

  Who needs to register under FCRA?

   

  Under the Foreign Contribution (Regulation) Act, 2010 (FCRA), any organisation that wishes to receive foreign funding must register with the Ministry of Home Affairs (MHA). This includes trusts, societies, non-profit companies, and NGOs.

   

   It is important to note that any organisation that has already received foreign funding must also register under FCRA within 30 days of receiving the first tranche of funds.

   

  How to register under FCRA?

   

  To register under FCRA, you must submit an online application on the FCRA online portal . Before applying, ensure that your organisation meets the eligibility criteria outlined in the FCRA guidelines.

   

   

  The application process includes filling out the FCRA Form 1, which includes detailed information about your organisation, such as its name, address, and activities. You will also need to submit documents such as your organisation's registration certificate, audited financial statements, and details of the proposed foreign contribution.

   

  Once you have submitted your application, it will be reviewed by the MHA. If any additional information is required, they will reach out to you via the online portal. It can take up to six months for your application to be processed, so it is essential to plan accordingly.

   

  Documents required for FCRA registration

   

  To complete your FCRA registration, you will need to submit the following documents:

  1. Registration certificate of your organisation

  2. MOA and AOA or Trust deed

  3. PAN card

  4. Proof of address

  5. Bank account details

  6. Audited financial statements for the past three years

  7. Details of the proposed foreign contribution

  8. Annual report of your organisation

  9. List of key members and their contact details

   

  Conclusion

   

  In conclusion, FCRA registration for trusts and NGOs is a vital process that must be followed to ensure compliance with all relevant laws and regulations. By following the steps outlined in this article and ensuring that you have all the required documents, you can complete your FCRA registration with ease. Remember, failure to comply with FCRA requirements can result in severe penalties, so it is essential to plan accordingly and complete your registration on time.

   

  People also read: How does IRDAI expects Insurance Surveyors to work in Market?