FC-TRSフォームは、外国直接投資（FDI）の届出に必要な9つの必須フォームの1つですが、具体的にどのようなもので、どのように提出すればよいのでしょうか。本記事では、FC-TRSフォームとは何か、そしてその提出方法に関する疑問にお答えします。
1. FC-TRSフォームとは？
FC-TRSフォームは「Foreign Currency-Transfer of Shares（外貨建て株式譲渡）」の略称です。FC-TRSフォームは、譲渡取引を公認ディーラー銀行（ADカテゴリー1銀行）に報告するために使用されます。
2. FC-TRSフォームの提出が必要となるのはどのような場合ですか？
- FC-TRSフォームは外国直接投資の取引報告に関連するものであるため、非居住者が取引に関与する場合にのみ提出が義務付けられています。
- したがって、FEMAガイドラインに基づき、以下のケースで資本性金融商品の売却による譲渡を行う場合、FC-TRSフォームの提出が必要です。売却による譲渡FEMAガイドラインに従い、以下のケースで提出が必要です：
- インド企業の資本性金融商品をレパトリエーション（資金の本国送金）可能なベースで保有する非居住者が、非レパトリエーションベースで当該資本性金融商品を保有する非居住者に譲渡する場合
- インド企業の資本性金融商品を非レパトリエーションベースで保有する非居住者が、レパトリエーション可能なベースで資本性金融商品を保有するインド居住者に譲渡する場合
- インド企業の資本性金融商品をレパトリエーション可能なベースで保有する非居住者が、インド居住者に譲渡する場合
- インド企業の資本性金融商品を保有するインド居住者が、レパトリエーション可能なベースで当該資本性金融商品を保有する非居住者に譲渡する場合
* レパトリエーション（資金の本国送金）ベース：投資の売却代金や満期償還金から税金を差し引いた額を、インド国外へ送金できることを意味します。
3. FC-TRSフォームの提出が不要なケースはありますか？
以下の取引については、FC-TRSフォームの提出は不要です：
- インド企業の資本性金融商品を非レパトリエーションベースで保有する非居住者が居住者に譲渡する場合（およびその逆）。
- インド企業の資本性金融商品をレパトリエーション可能なベースで保有する非居住者が、レパトリエーション可能なベースで居住者に譲渡する場合。
- 贈与による資本性金融商品の譲渡。
したがって、資本性金融商品の譲渡に関するさまざまなシナリオは以下のように要約できます。
| S. No. |
Transferor |
Transferee |
Whether form FC-TRS is required to be filed or not? (Yes/No) |
| 1 | Non-Resident (Holding capital Instruments on a Non-repatriable basis) | Non-Resident (Non-repatriable basis) | |
| 2 | | Non-Resident (Repatriable basis) | |
| 3 | Non-Resident (Non-repatriable Basis) | Resident (Non-repatriable basis) | Not Required |
| 4 | | Resident (Repatriable basis) | Yes |
| 5 | Non-Resident (repatriable basis) | Non-Resident (Non-repatriable basis) | Yes |
| 6 | | Non-Resident (Repatriable basis) | No |
| 7 | Non-Resident (repatriable Basis) | Resident (Non-repatriable basis) | Yes |
| 8 | | Resident (Repatriable basis) | Yes |
| 9 | Resident (Non-repatriable basis) | Non-Resident (Non-repatriable basis) | Not Required |
| 10 | | Non-Resident (Repatriable basis) | Yes |
| 11 | Resident (Non-repatriable Basis) | Resident (Non-repatriable basis) | No, No Non-resident involved |
| 12 | | Resident (Repatriable basis) | No, No Non-resident involved |
| 13 | Resident (repatriable basis) | Non-Resident (Non-repatriable basis) | |
| 14 | | Non-Resident (Repatriable basis) | Yes |
| 15 | Resident (repatriable Basis) | Resident (Non-repatriable basis) | No, No Non-resident involved |
| 16 | | Resident (Repatriable basis) | No, No Non-resident involved |
4. FC-TRSフォームはどのような種類の資本性金融商品に対して提出が必要ですか？
以下の資本性金融商品に関する取引は、FC-TRSフォームでの報告が必要です：
- 普通株式
- 強制完全転換優先株式（CMCPS）
- 社債
5. FC-TRSフォームの提出義務者は誰ですか？
以下の者がFC-TRSフォームの提出義務を負います：
- 株式譲渡取引に居住者が関与する場合、譲渡人または譲受人のいずれであるかを問わず、当該居住者が提出義務を負います。また、
- 居住者が取引に関与しない場合は、非レパトリエーションベースで資本性金融商品を保有する非居住者が提出義務を負います。
6. FC-TRSフォームの提出期限はいつですか？
公認ディーラー銀行は、以下のいずれか早い日付から60日以内にFC-TRSフォームを受理する必要があります：
- 資本性金融商品の譲渡日、または
- 資金の受領日／送金日。
7. FC-TRSフォームの提出手続き
The FC-TRS form needs to be filed with the Authorized Dealer bank within sixty days of the transfer of capital instruments or receipt/remittance of funds, whichever is earlier. Here you can find the procedure to file FC-TRS Form briefly explained, step by step, for your advantage:
Step 1: Registration for Business User (BU)
- Firstly, person liable to file FC-TRS is required to register himself on FIRMS website at https://firms.rbi.org.in as “Business User”.
- Next, click on registration for new business users and fill up the details in the form as required. [NOTE: Make sure to keep your username unique]. Details of the Investee Company is required to be provided at the time of creating a Business User Account.
- After filling the form the BU has to submit the same.
- Following submission, the document must be confirmed by the AD Bank Branch in question. The approval or rejection of the proposal would be informed to the BU through email.
Step 2: Logging in to firms
- Visit https://firms.rbi.org.in for logging into FIRMS.
- There by using the User Name and default password, given via an email, the BU will can set a new password.
- Logging in to FIRMS will lead the BU to his/her workspace.
Step 3: Log into SMF and reach out to your workspace.
- Post login at FIRMS portal, Under “File Return”, list of all forms shall appear under “Return Type”.
Step 4: Select the Return type
- Select “Form FC-TRS” and click on ¨Add New Return¨.
- Complete form is divided into following 2 parts:
- Common Investment Details
- Form FC-TRS (Which is further Divided into 3-4 tabs)
Step 5: Common investment details
- Details of Common Investment are required to be provided.
- Information provided in this tab is common to all returns that are filed under Single Master Form (“SMF”)
- Information to be provided under this tab:
| Field Name |
Description |
| CIN, Company Name, and PAN Number |
Pre-filled as per Investee details provided at the time of creating Business User Profile. |
| Application date |
Pre-filled, non-editable, system date |
| Entry Route of received FDI* |
Select Automatic Route or Government Route, as applicable.
In the case of the Government route, government approval is required to be attached to FC-TRS Form.
|
| Applicable Sectoral cap/ Statutory ceiling |
Applicable sectoral cap as per FEMA 20(R).
Clarification: where the company belongs to a sector with mixed entry routes, for eg: Abc pharmaceuticals beyond up to 100% under the Government route and 74% is under the automatic route, the applicable sectoral cap would be 100%.
|
| Whether the foreign investment received is for a specific project/ manufacturing unit/ plant? |
Select Yes or No as applicable.
If yes is selected then additional information of PIN Code, State, City/District, and Brownfield/Greenfield is also required to be provided.
|
Step 6: Common details
- After filling in the details of common investment, then Form FC-TRS shall appeal and certain Common details are required to be provided under First Tab.
- Following information is required to be provided
| Field name |
Description |
| Transfer by way of |
Select sale or Gift, as the case may be |
| Whether the change in the shareholding pattern due to this transaction being reported has already been accounted in the pre-transaction shareholding pattern:* |
Select Yes or No.
In case ‘Yes’ is selected then there will not be any change in the shareholding pattern for this transaction being reported.
In case ‘No’ is selected changes are reflected in the shareholding pattern for this transaction is reported accordingly.
|
| Transfer from |
Select from the following options as applicable:
Resident to Non-resident (including NRI/OCI on repatriable basis)
Non-resident (including NRI/OCI on repatriable basis) to Resident
NRI /OCI/eligible investor on a non-repatriable basis to Non-resident (including NRI/OCI on repatriable basis)
Non-resident (including NRI/OCI on repatriable basis) to NRI/OCI/eligible investor on non-repatriable basis.
|
| Transfer Type |
Select from the following options as applicable:
Transfer as per Regulation 10(3) of FEMA 20(R) - Sale of capital instruments from a person resident outside India to a person resident in India
Transfer as per Regulation 10(4) of FEMA 20(R) - Sale of capital instruments from a
person resident in India, including NRI/OCI or eligible investor under Schedule 4 to FEMA 20(R) to a person resident outside India
Transfer as per Regulation 10(5) of FEMA 20(R) - Gift of capital instruments from a person resident in India, including NRI/OCI or eligible investor under Schedule 4 to FEMA 20(R) to a person resident outside India
Transfer as per Regulation 10(12) of FEMA 20(R) - Invocation of pledge
Transfer of capital instruments as per Regulation 3 to FEMA 20(R)
Others (please specify)
|
| Date of Transfer |
Select the date of transfer from the calendar.
(In case the date of transfer is after the date of filing of FC-TRS form i.e future date, select the date as application date and provide the date of transfer as per the Transfer agreement as an attachment under “Other Attachments”).
|
| Nature of Transfer |
Select from the following options as applicable:
Offer for sale in an IPO/ FPO
Private arrangements was of capital instruments
Sale on the stock exchange other than those under Schedule 2 and Schedule 3 of FEMA 20(R)
Purchase on the stock exchange other than those under Schedule 2 and Schedule 3 of FEMA 20(R)
Participating interests/rights in oil fields
Merger / Demerger / Amalgamation
Buy back / Invocation of pledge
Other (please specify)
NOT applicable for Transfer by Gift
|
| Buyer and Seller details for sale or Donee and Donor details for gift |
Fill up the buyer and seller details for transfer by sale or Donee and Donor details for Transfer by Gift. |
Step 7: Particulars of transfer
- Under Next tab, following information related to transfer is to be provided:
| Field Name |
Description |
| Type of capital instrument |
Type of capital instrument shall be selected from the drop-down menu. In case of a gift, if the shares are transferred select as “Shares transferred as Gift”, if not, then the capital instrument as transferred |
| Number of Instruments |
Enter the number of instruments as transferred. |
| Conversion ratio |
In the case of Equity shares, partly paid-up shares, shares transferred as Gifts, participating interest/rights in oil fields enter as 1:1. For CCDs /CCPs/ share warrants enter the pre-fixed upfront conversion ratio. In case there is no upfront conversion ratio enter the ratio as per the maximum permissible conversion of CCDs/CCPs/share warrants into equity shares in compliance with the pricing guidelines. |
| Number of equity shares on a fully diluted basis |
Auto-populated as per the conversion ratio and the number of instruments |
| Face value |
Enter the face value of the equivalent equity shares. In case of CCDs/CCPs /share warrants- DO NOT enter the face value of the instrument as it will not give the correct shareholding pattern.
For participating, interests/rights in oil fields enter the value as 0 (zero). |
| Transfer price per instrument |
Enter Transfer price. For Gift, enter transfer price as 0 (zero). |
| Total amount consideration |
Auto-calculated as the Number of instruments multiplied by transfer price per instrument. |
| “ADD” button |
Click on the ADD button and check that all details are reflected in the adjoining table. In case of multiple instruments being transferred, repeat the above process. Information can be modified by clicking on the “Edit” Icon and can be deleted through “Delete Icon”. |
| Fair value of the capital instruments at the time of transfer |
Enter the fair value. Valuation certificate from the authorized person and Transfer agreement (relevant extracts) along with the consent letter of buyer and seller at “Valuation certificate.” shall also be attached. In the case where multiple instruments are being transferred, enter the fair value of one instrument and attach a clarificatory letter along with the valuation certificates at the attachment “Valuation certificate”. |
Step 8: Remittance details
- Details about remittance of consideration is to be provided under this tab. This tab shall not apply in cash of transfer through gift.
| Field Name |
Description |
| Mode of payment |
Select from the drop-down menu |
| Name and address of AD bank |
The name of the bank and address can be selected from a given list. |
| Amount remitted/received in Rs |
Amount in Rs as being received or remitted in this reporting |
| Whether and Tranche number |
Step-1: Select from the drop-down menu payment on full consideration here, date of remittance in a future date. It may be left blank. Enter the tranche number as 1 (one).
Payment on a deferred basis in case it is first tranche payment, enter tranche number as 1 (one). In case it is 2,3,4…..etc tranche: enter accordingly. Further, enter FC-TRS reference number along with tranche amount reported in FC-TRS, under “FC-TRS Details”.
Indemnity arrangements case it is first FC-TRS reporting: Here, the date of remittance is the date on which the amount is received. If it is a future date - it may be left blank.
In case it is first FC-TRS reporting for reporting indemnity payment: Enter Tranche number as 2 (two). Under FC-TRS details you must enter the FC-TRS reference number, along with the tranche amount reported in FC-TRS.
|
| Whether the remitter is different from a foreign investor |
Select “NO”, if the remitter is the same. In other cases, Select “YES” and enter the details viz., Name of the Remitter, Country of remitter, the relationship between Remitter and foreign investor and attach the requisite documents |
| Declaration |
A declaration is to be provided that complete and accurate information has been provided. |
Step 9: Shareholding pattern.
これは最後から2番目のステップです。株式保有パターンに関連する以下の詳細情報を提出する必要があります。
- 外国ポートフォリオ投資および間接外国投資を除き、完全希薄化ベースでの株式価値とは、資本拠出額／持分、外国ポートフォリオ投資、および間接外国投資の合計額です。
- 取引前の値は、エンティティマスター（タブ3）から自動的に入力されます。
- 取引後の値は、フォームに入力された情報に基づいて自動的に決定されます。[取引前の株式価値 + フォームで報告された株式価値 = 取引後の株式価値]
- 自動計算される株式保有パターンを正確なものにするため、ビジネスユーザーはフォームの詳細が有効であることを確認する必要があります。
ステップ10：フォームの提出
- すべてのフィールドへの入力が完了したら、「保存して提出（Save and Submit）」をクリックしてフォームを提出してください。
- 非居住者の譲渡人／譲受人である場合は、指定された形式で申告書を提出する必要があります。
8. FC-TRSフォームに添付すべき書類リスト
FC-TRSフォームには、以下の書類を添付する必要があります。
8.1 贈与による譲渡の場合
- 関連する規制当局の承認：必要な場合は、これらの書類を「その他の書類」としてFC-TRSフォームに添付する必要があります。
- 同意書：これは、譲渡に関して贈与者と受贈者の間で署名された同意書です。
- 非居住者申告書：上記の指定形式に従い、FC-TRSフォームに添付する必要があります。
8.2 売却による譲渡の場合
- 譲渡契約書：譲渡契約書の関連抜粋、および株式市場での売買に関する買主と売主間の同意書をFC-TRSフォームに添付する必要があります。これらの契約ノートは、「譲渡契約書／評価証明書」セクションに含めることができます。
- 評価証明書：FEMA 20 (R) に基づく評価証明書を、FC-TRSフォームの「譲渡契約書／評価証明書」欄に添付する必要があります。
- 非居住者申告書：上記の形式に従い、非居住者申告書を添付する必要があります。
- 非居住者による売却の場合、売却される資本性金融商品に適用されるFC-TRSの受領証を「その他の添付書類」として添付する必要があります。
- FIRC（外国送金証明書）／対外送金証明書およびKYCを指定の添付欄に添付する必要があります。
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