ICAI advises Members to file Form NFRA-2 Annual Return immediately

Vide Advisory dated 28th October, 2021, Corporate Laws & Corporate Governance Committee of The Institute of Chartered Accountants of India [ICAI] has advised members to file Form NFRA-2 Annual Return for the reporting period 2018-2019 and also for the year ending 31/03/2020, immediately without any delay, if not filed already.

According to Rule 5 of the NFRA Rules 2018, auditors of the class of companies specified in Rule 3(1) are required to file an annual return with NFRA in the prescribed form (NFRA-2) on or before November 30th of each year.

For the financial year 2018-19, the government has already granted an extension until September 4, 2020.

An announcement dated May 7, 2021, as well as mail, have already been distributed to Practicing Members, advising them to file the form NFRA-2 for the financial years 2018-19 and 2019-20.

However, according to NFRA, at least 1011 auditors/audit firms have yet to file form NFRA-2 for the reporting period 2018-19. The following link will take you to a list: List

In this regard, members are reminded to file NFRA-2 for the reporting period 2018-2019, as well as for the fiscal year ending 31/03/2020, immediately and without delay, if they have not already done so, in order to avoid penalties.

For more details please visit https://eformnfra2.nic.in/