RBI Circular RBI/2026-27/98: Two FEMA Returns (R343 and R006) Move to the CIMS Portal From June 30, 2026
Quick Summary: RBI Moves FEMA Returns to the CIMS Portal from June 30, 2026
- What changed: The RBI has directed all Authorised Dealer (AD) Category-I banks to submit two recurring FEMA returns electronically through the Centralised Information Management System (CIMS) portal, vide Circular RBI/2026-27/98 dated 5 June 2026.
- Effective date: 30 June 2026. From this date the two returns must be filed on CIMS instead of being emailed to RBI departments.
- The two returns: Return Code R343 (monthly Branch / Liaison / Project Office activity report) and Return Code R006 (monthly NRO account remittance report).
- NIL filing: Where there is no activity in a month, AD banks must still file a NIL return on CIMS.
- Legal basis: Issued under Sections 10(4) and 11(2) of FEMA, 1999; the Master Direction on Reporting under FEMA, 1999 will be updated accordingly.
What Is the RBI CIMS Reporting Mandate for FEMA Returns?
On 5 June 2026 the Reserve Bank of India issued Circular RBI/2026-27/98, titled “Submission of statement / return on Centralised Information Management System (CIMS)”, continuing its multi-year migration of FEMA and banking returns onto a single digital reporting backbone. With effect from 30 June 2026, AD Category-I banks must file two monthly returns through the CIMS portal rather than sending them to the RBI’s Foreign Exchange Department and Foreign Investments Division.
CIMS is the RBI’s centralised data-warehouse and reporting platform that has progressively replaced the older email-and-spreadsheet submissions and the legacy XBRL site. Liberalised Remittance Scheme (LRS) returns, Rupee Drawing Arrangement statements and several other returns have already moved to CIMS. This circular brings two more recurring FEMA returns onto the same rails. It sits alongside other recent RBI cross-border reforms we have covered, including the same-day credit mandate for cross-border inward payments and the merger of the VRR into the general FPI debt route.
The Two Returns Moving to CIMS
| Return Code | What it reports | Frequency | NIL return required? |
|---|---|---|---|
| R343 | Consolidated list of branches, liaison offices and project offices opened or closed during the month by foreign entities in India (and the related approvals) | Monthly | Yes |
| R006 | Number of applicants and total amounts remitted from Non-Resident Ordinary (NRO) Rupee accounts during the month | Monthly | Yes (where applicable) |
Return Code R343: Branch / Liaison / Project Office Activity
The R343 return captures the monthly movement of Branch Offices (BO), Liaison Offices (LO) and Project Offices (PO) set up in India by foreign companies under the FEMA establishment-of-office framework. The AD bank consolidates, for the reporting month, every BO/LO/PO that was opened or closed, along with the relevant particulars. Where no such office was opened or closed in a month, the bank files a NIL return so the RBI has a complete and continuous record.
Return Code R006: NRO Account Remittances
The R006 return reports monthly data on remittances out of Non-Resident Ordinary (NRO) Rupee accounts, specifically the number of applicants and the total amount remitted. NRO remittances are subject to the USD 1 million per financial year limit and to tax-clearance and documentation requirements, so this return feeds the RBI’s monitoring of outward flows from resident-source income held by non-residents. Remittances under the resident LRS route follow a separate track, where the TCS rate on foreign remittances was cut to 2 per cent from April 1, 2026.
Why This Matters Beyond the Banks
On paper, the obligation sits with AD Category-I banks. In practice, the data the banks file is built from documents that account holders and foreign entities provide. The migration to CIMS tightens the audit trail at the RBI’s end, which means the underlying paperwork at the customer’s end has to be clean and timely.
For foreign companies with a BO / LO / PO in India
If your foreign parent operates a branch, liaison or project office in India, the opening, closing or change of that office is reported by your AD bank through R343. Ensure your AD bank has the current RBI/AD approval references and closure documentation on file, because gaps in the bank’s monthly return can surface during the Annual Activity Certificate (AAC) process and office-closure approvals.
For NRIs and their advisors
Every remittance you make from an NRO account, supported by Form 15CA / 15CB and the bank’s documentation, becomes part of the R006 data stream. Incomplete or delayed paperwork at the branch can hold up your remittance and now also affects a return the bank must file on a fixed monthly cycle. Submit complete remittance documentation early in the month.
For CA professionals and FEMA practitioners
This is the latest step in a clear RBI direction of travel: every FEMA return ends up on CIMS. Advise banking and corporate clients that email-based submission of these two returns stops on 30 June 2026, update internal FEMA compliance calendars, and confirm that the bank’s reporting team is registered and tested on the CIMS portal well before the cutover.
Action Checklist Before June 30, 2026
- Confirm CIMS onboarding. AD Category-I banks should verify that the relevant reporting users are registered on the CIMS portal with the correct return entitlements for R343 and R006.
- Map the data source. Identify which internal teams collate BO/LO/PO movements and NRO remittance data, and align their month-end close to the CIMS filing window.
- Build the NIL-return discipline. Set a standing instruction to file a NIL return on CIMS in any month with no reportable activity. Missing months, even NIL ones, break the continuous record.
- Refresh customer documentation. For foreign offices, keep approval and closure papers current; for NRO remittances, ensure Form 15CA/15CB and the supporting set are complete before processing.
- Watch for the Master Direction update. The RBI has confirmed that the Master Direction on Reporting under FEMA, 1999 will be amended to reflect this change. Track the updated Master Direction for the precise data format and any timelines within the month.
- Retire the old channel. Stop emailing these returns to the Foreign Exchange Department / Foreign Investments Division once CIMS filing begins, to avoid duplicate or conflicting submissions.
Frequently Asked Questions
From when must R343 and R006 be filed on CIMS?
With effect from 30 June 2026, as notified by RBI Circular RBI/2026-27/98 dated 5 June 2026.
Who is responsible for filing these returns?
All Authorised Dealer Category-I banks. The obligation is on the AD bank, although the underlying data comes from account holders and foreign entities.
Do banks have to file a NIL return if there is no activity?
Yes. Where there is no reportable activity in a month, AD banks must still file a NIL return on CIMS for R343 (and for R006 where applicable), so the monthly record stays unbroken.
Under what legal authority is the circular issued?
Under Sections 10(4) and 11(2) of the Foreign Exchange Management Act, 1999, which empower the RBI to give directions to authorised persons. This makes compliance binding, not advisory.
What was the earlier method?
These returns were previously submitted to the RBI’s Foreign Exchange Department and Foreign Investments Division in New Delhi. The circular centralises them on the CIMS portal for uniform digital reporting.
The Bottom Line
RBI Circular RBI/2026-27/98 is narrow in scope but clear in direction: two more FEMA returns, R343 for branch/liaison/project office activity and R006 for NRO remittances, move to the CIMS portal from 30 June 2026, NIL returns included. AD Category-I banks must be onboarded and tested before the cutover, and the corporates and NRIs whose transactions feed these returns should keep their documentation current so the monthly filing runs without friction.
Need help mapping your FEMA reporting obligations to the CIMS migration? The team at Tax Update India advises companies, foreign offices and NRIs on FEMA compliance and cross-border reporting. Talk to an Expert to review your reporting calendar before 30 June 2026.
Disclaimer: This article is for general information only and does not constitute legal or financial advice. It is based on RBI Circular RBI/2026-27/98 dated 5 June 2026 and the FEMA, 1999 framework as in force on the date of publication. Please consult a qualified professional for advice specific to your situation. Information is current as of 9 June 2026.
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