APR: Annual Performance Report for Overseas Investment
APR explained: who files the Annual Performance Report for overseas investments from India, the 31 December deadline, documents and common mistakes.
APR (Annual Performance Report): The Annual Performance Report is a yearly filing by an Indian entity that has made overseas direct investment, reporting the performance of each foreign entity in which it invests.
Who must file
The Indian resident investor (company, LLP or other eligible entity) that holds an overseas direct investment, through its AD bank, under the overseas investment framework of FEMA. This is relevant to Indian subsidiaries of foreign groups that invest abroad as well as Indian-owned groups.
Deadline
31 December each year, based on the foreign entity’s financials as required by the RBI directions. Confirm which accounting year the form must reflect.
Information required
- Foreign entity details and shareholding
- Audited financial statements, or alternative financials where permitted
- Remittances, dividends and other flows during the year
- Status of disinvestment or restructuring
Related compliance
Report the overseas investment in the FLA return by 15 July and consider transfer pricing for flows between the Indian investor and the foreign entity.
Checklist
- List every foreign entity and the investment held
- Collect audited financials for each entity
- File the APR through the AD bank by 31 December
- Reconcile with the FLA return
- Keep documents for FEMA inspection
Common mistakes
- Treating a dormant foreign entity as exempt
- Filing without audited accounts
- Overlooking step-down subsidiaries
Frequently asked questions
What is the APR due date?
31 December each year.
Who files it?
The Indian investor through its AD bank.
Is it the same as FLA?
No. The FLA covers the whole entity’s foreign liabilities and assets; the APR covers each foreign entity.
Related guides
- FLA Return: Annual Return on Foreign Liabilities and Assets
- ECB-2: Monthly Return on External Commercial Borrowings
- India Compliance Calendar for Foreign-Owned Companies (FEMA, Tax and ROC)
Sources and further reading
Note: rules, fees and dates change. Verify against the official RBI, MCA and Income Tax Department sources before relying on this page.
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