RBI revises matrix for calculation of late submission fee for FEMA returns

RBI vide circular dated September 30, 2022 has clarified that the following matrix shall be used henceforth for calculation of Late Submission Fee for delays in filing corresponding FEMA returns:

1. Form ODI Part-II/ APR, FCGPR (B), FLA Returns, Form OPI, evidence of investment or any other return which does not capture flows or any other periodical reporting – 7500.
2. FC-GPR, FCTRS, Form ESOP, Form LLP(I), Form LLP(II), Form CN, Form DI, Form InVi, Form ODI-Part I, Form ODI-Part III, Form FC, Form ECB, Form ECB-2, Revised Form ECB or any other return which captures flows or returns which capture reporting of non-fund transactions or any other transactional reporting- [7500 + (0.025% × A × n)]

The new matrix shall come into effect immediately for the delayed filings made on or after the date of this circular.