Foreign Contribution Regulation Act was established in the year 1976 in order to regulate and control the foreign currency or wealth received by individuals working in different areas of national life. FCRA registration is mandatory for not to utilize the foreign money for influencing voters in a public poll or election. FCRA registration in India is done by many leading legal firms and professionals in order to avoid any disputes in future regarding this registration. To organize religious, cultural and social events and performances organizations need FCRA registration from the Government of India through an FCRA application form duly signed by the institution and agent or attorney. There online FCRA registration has been growing immensely due to its easy and smooth process. FCRA registration is not meant for all organizations as it was only for those who have some proven track records of organizing some social events and have audited accounts for more than three years by the certified auditors.
FCRA Registration Procedure
Foreign Contribution Regulation Act (FCRA) registration is a process and the application for FCRA should be applied with the form FC-3 and duly signed by the Chief Functionary of the institution. The application form should be accompanied with following documents:
- Form FC-3 in triplicate
- Three years audited accounts by a certified auditor
- Annual reports of the institution for three years
- Certificate of the registered trust or society if the institution is a trust or society.
- Copy of Memorandum and Articles of Association if required
- Object and purposes of the contribution required
- Copy of the prior permission of the institution.
- Copy of the annual journal or any publication
- Details of the Banks for foreign contribution receipt.
- A recommendation certificate from competent authority.
The FCRA registration procedure is followed by any organization with specific cultural, social, educational or religious programs can accept foreign contributions under the Foreign Contribution Regulation Act, 1976 under the Central Government.