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1. What is Form FC-1? 

By using Form FC 1, the foreign companies file information about contribution. Any donation, delivery, or transfer made by a foreign source is referred to as a “foreign contribution.” Form FC- 1 is dealt with under Section 380(1)(a) to (h) and Rule 3(3) of the Companies (Registration of Foreign Companies) Rules, 2014.

Within 30 days of establishing a place of business in India, a foreign firm must file the details of its principal place of business in form FC-1 along with the appropriate documentation with the RoC in Delhi. These documents filed with the RoC, Delhi, will be accessible to the Registrar of the corresponding state. The stamp duty on eForm FC-1 can be paid electronically.

2. Why is it important?

The Foreign Contribution and Foreign Hospitality Regulations Act (FCRA) of 2010 was enacted by Parliament to consolidate the law to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals, associations, or companies, and to prohibit the acceptance and utilisation of foreign contribution or foreign hospitality for any activities detrimental to the national interest, and for matters connected therewith.

Therefore, information on Foreign contributions is mandatory, FC-1 ensures that it has been filed and the government has a record regarding foreign contributions.

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