AT A GLANCE
Five checks before an NBFC filing
- STEP 1
Category
Read the RBI registration.
- STEP 2
Applicability
Identify required work.
- STEP 3
Records
Reconcile the inputs.
- STEP 4
Review
Obtain signatures and certification.
- STEP 5
Evidence
Keep receipts and open actions.
Start with your NBFC category and regulatory layer
A lending NBFC, microfinance institution, housing finance company, account aggregator and peer-to-peer platform do not use an identical compliance checklist. RBI’s current framework includes category-specific directions and layer-based requirements. We first record the company’s approved activities, deposit status, asset size, public funds, customer interface and regulatory communications.
For example, the governance requirements applicable to a Base Layer entity differ from those for Middle and Upper Layer entities. An internet checklist listing every historic NBS return can create unnecessary work or miss the correct reporting requirement. The output of this first review is an entity-specific register of obligations, owners and evidence.
What an agreed compliance engagement can cover
The scope can include a calendar of applicable RBI and MCA submissions, reconciliation of financial and operational data, preparation of board papers and maintenance of a filing evidence register. Each task needs an identified company officer, source record and reviewer. Portal acknowledgements should be stored with the version actually filed.
- Review the RBI Certificate of Registration, approvals and supervisory letters.
- Map applicable prudential, KYC, governance, customer-protection and reporting workstreams.
- Coordinate ROC annual filings, auditor inputs and agreed event-based applications.
- Record exceptions, outstanding documents and management actions in a monthly status report.
RBI work, company filings and tax work are separate
Annual company filings do not replace RBI submissions. KYC implementation is also an operating responsibility, not just a policy document. Loan records, customer communication, complaints and data sent to regulators should remain consistent with the accounts and approved business practices.
Our engagement letter will identify whether tax returns, GST, statutory audit, internal audit, information-system review or specialised regulatory advice are included. Required certification must be completed by an authorised professional. Management and the board retain responsibility for business decisions, accurate records and compliance; administrative assistance does not transfer those duties.
How the ₹ quote is calculated
An NBFC quote should reflect the category, asset size, number of returns, branches, loan volume, past gaps and professional review needed. Request a written annual or monthly scope with government and third-party amounts shown separately.
| Cost component | What to check |
|---|---|
| Professional service fee in ₹ | Agreed returns, review depth, frequency and included query support. |
| MCA filing or additional fees | Actual form and delay, where applicable; supported by challans. |
| Audit or specialist certification | Separate engagement where required; do not assume inclusion. |
| Past-period remediation | Priced after reviewing missing filings and regulator correspondence. |
| GST and expenses | Shown separately where applicable; approved before incurring. |
Timelines, data cut-offs and common mistakes
The service calendar must be built from the current requirements and the company’s own trigger dates. We agree internal data cut-offs before statutory deadlines so there is time for reconciliation, review and signatures. Regulatory queries, missing audit inputs or unresolved records can change the completion estimate.
Common errors include copying an old NBS-7 checklist without confirming applicability, overlooking changes in directors or control, using inconsistent loan figures in accounts and returns, and treating every licence as permission to accept public deposits. Notify the reviewer before changes in business activity, funding, ownership or management.
Get a useful first review
Send the registration category, latest balance sheet, last reporting acknowledgements and a list of current concerns. Ask for a gap review first if previous filings are uncertain. The handover should tell you what is complete, what remains open and who must act next. This gives your finance team a manageable workflow and supports reliable conversations with lenders, investors and auditors.
What to prepare before you contact us
- RBI Certificate of Registration and incorporation documents.
- Latest audited accounts, trial balance and relevant reconciliations.
- Loan, investment, borrowing and deposit registers as applicable.
- Shareholding, director details, board policies and meeting records.
- Previous RBI/MCA acknowledgements and regulator correspondence.
- Authorised signatory, auditor and compliance-officer contact details.
Start with your requirement and current stage. We will agree the document-sharing method before you send confidential records. Keep passwords, OTPs and digital-signature credentials with the authorised person.
How LIQUETAX can help
Classify
Confirm category, regulatory layer, activities and the period to be reviewed.
Map
Create an applicability register and list missing records before estimating work.
Reconcile
Agree financial and operational inputs with the company and relevant reviewer.
Prepare and review
Prepare agreed returns or papers; obtain approvals and professional certification where required.
Submit and track
File with authorised access, retain receipts and track regulator queries and ongoing actions.
Your questions, answered
Does every NBFC file the same RBI returns?
No. Applicability varies with the entity’s category, layer, activities and reporting instructions. An individual return inventory should be verified before submission.
Is statutory audit included?
Only when expressly included through a suitable professional engagement. Routine compliance coordination does not automatically include audit or assurance.
Can LIQUETAX resolve old missed filings?
Start with a dated gap review. The solution depends on the relevant form, delay, company records and regulator directions; penalties or acceptance cannot be guaranteed.
How do we obtain a price?
Provide your category, assets, reporting scope and previous filing status. The quote should separate professional fees, government payments, specialist work and GST.
Official references for this guide
AI-assisted editorial research checked on 7 October 2026. The applicable route, rule and charges depend on your facts. For individual professional advice, have your facts and documents assessed before filing. No named professional review is claimed.