Permission for transfer of foreign contribution: central approval required with conditions on transfer, utilisation, and reporting. Form FC-5 requires an FCRA-registered association seeking to transfer foreign contribution to provide transferor FCRA details, recipient particulars ... Summary
Permission for transfer of foreign contribution: central approval required with conditions on transfer, utilisation, and reporting.
Form FC-5 requires an FCRA-registered association seeking to transfer foreign contribution to provide transferor FCRA details, recipient particulars (association or individual), recipient bank and exclusive FCRA-designated account information, purpose and amount of transfer, and supporting registration documentation where applicable. The transferor must declare that proposed transfers comply with the prescribed transfer magnitude and that no transfer will occur until Central Government approval; both transferor and recipient are responsible for proper utilisation and must reflect transfers in statutory returns.
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