Consequences of not Renewing FCRA Registration ‎

Posted on March 6, 2021 by SRRF

Dear Sir,

We are a registered society and a trust. We have an FCRA account in SBI with past funds received.

We have also some assets purchased out of foreign funds rec’d in the past. 

Now, what would happen if we are not asking for FCRA renewal to

a. The amount already in the current account, after 31st March 2021

b. If in future the asset is liquidated, what would be the nature of amount received

Sincerely,

Dhruv Mankad

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2 Responses to Consequences of not Renewing FCRA Registration ‎

  1. Dhruv Mankad says:
    March 15, 2021 at 4:25 am

    Thanks!

  2. Subhash Mittal says:
    March 9, 2021 at 9:38 am

    Dear Dhruv,

    If any NGO does not apply for renewal before the date of expiry, it would mean that as per Rule 12(6), FCRA has deemed to have ceased. Rule 12(6A) states that The amount of FC lying unutilised in the FCRA Account and utilisation account of a person whose certificate of registration is deemed to have ceased under sub-Rule (6) and assets, if any, created out of the FC, SHALL VEST WITH THE PRESCRIBED AUTHORITY, till the certificate is renewed or fresh registration granted by the Govt.

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