Validation of Foreign Contribution bank accounts. Associations are required to validate accounts within 15 days

Validation of Foreign Contribution bank accounts. Associations are required to validate FC designated accounts with utilization accounts within 15 days

F. No. II/21022/58(0119)/2015/FC(MU)

Government of India
Ministry  of Home Affairs
Foreigners Division (FCRA Wing)
*****

Ground Floor, NDCC-II Building,
Jai Singh Road, New Delhi-11 0001

Dated the 07 Junc, 2017

CIRCULAR

Subject : Validation of Foreign Contribution bank accounts- reg.

All the associations which have been granted registration/prior permission under Section 12 of FCRA , 20 I 0 shall receive foreign contribution in a single foreign contribution designated bank account. Further, as per Foreign Contribution (Regulation) Rules, 2011 [FCRR, 2011] all the banks shall report to the Central Government within 48 hours of such receipt/utilization of foreign contribution by such organizations.

2. It is, however, seen that a number of associations have not validated their foreign conLribution designated accounts causing problems for the banks to comply with the provisions or 2010/FCRR, 2011. A list of such organizations is attached.

3. These associations are required to validate their foreign contribution designated accounts and also the utilization accounts within 15 days and send the details, including name of the bank, branch code, account number, IFSC , online in form FC-6 which is available  on fcraonline. nic. in.

(Mukesh Mittal)
Joint Secretary to the Government of India
Tel.: 011-23438034
Fax : 011-23438033