Document Checklist for Annual Performance Report (APR) Submission

Submitting the Annual Performance Report (APR) under the Overseas Direct Investment (ODI) framework requires specific documentation to ensure compliance with RBI guidelines. Below is a comprehensive checklist of the documents typically required:

1. Covering Letter

• A formal covering letter addressed to the Authorized Dealer (AD) Bank.
• Include details such as:
  • Overseas entity’s name.
  • Indian entity/resident individual’s name.
  • Year for which APR is being submitted.

2. APR Form

• Completed and signed APR form (as per RBI guidelines).
• Information to include:
  • Basic details of the Indian entity/resident individual and the overseas entity.
  • Financial performance of the overseas entity.

3. Audited Financial Statements of the Overseas Entity

• A copy of the audited financial statements of the overseas entity for the relevant financial year.
• Must include:
  • Balance Sheet.
  • Profit & Loss Statement.
  • Other key financial indicators.

4. Certification by Statutory Auditor

• A certificate from the statutory auditor of the Indian entity/resident individual, verifying:
  • Financial performance of the overseas entity.
  • Valuation of the investment, if applicable.
  • Compliance with applicable regulations.

5. Details of Investment

• Statement of outstanding investments made by the Indian entity/resident individual in the overseas entity.
• Include:
  • Equity contributions.
  • Loan amounts.
  • Guarantees issued, if any.

6. Supporting Documents for Changes (if any)

• If there have been changes in the shareholding structure, disinvestment, or additional investments, provide:
  • Board resolutions.
  • Share certificates.
  • Documents evidencing such changes.

7. Evidence of Filing with AD Bank

• Proof that the APR and supporting documents have been submitted to the designated AD Bank.

8. Tax Compliance Documentation

• For resident individuals, ensure proper disclosure of overseas investments and income in their Income Tax Return (ITR).

9. Additional Documents (if applicable)

• Copies of FEMA compliance certificates for earlier years.
• Documents related to approvals from RBI or other authorities, if required.
• Any correspondence with the overseas entity that is relevant to APR submission.

Key Points to Note

• Ensure all documents are consistent and match the records submitted in previous years.
• All submissions must be routed through the designated AD Bank.
• Timeliness: APR must be submitted within six months of the close of the Indian entity’s financial year.
• For overseas entities with extensions or delays in auditing, provide provisional financial statements along with a justification letter.

Would you like assistance with drafting specific forms, a covering letter, or any other related documentation?