Financial Intelligence Unit (FIU-IND) Registration & AML Compliance

Enhance your crypto business credibility and ensure seamless operations with FIU-IND registration. Register with the Financial Intelligence Unit – India today to fulfil your PMLA obligations, mitigate legal risks, and reinforce your organization’s commitment to financial integrity.

Overview of Financial Intelligence Unit (FIU-IND) Registration

Financial Intelligence Unit (FIU-IND) registration is a mandatory requirement for every reporting entity that must furnish prescribed financial information to the Director of FIU-IND.

The Financial Intelligence Unit – India (FIU-IND) was established by the Government of India on 18th November 2004 as the central national agency responsible for receiving, processing, and analysing information relating to suspicious financial transactions.

The main objective of FIU-IND is to strengthen the efforts of national and international enforcement agencies in combating financial crimes such as money laundering and terrorist financing, thereby protecting the country’s economic integrity and security.

On 4th July 2023, the Ministry of Finance made FIU-IND registration mandatory for Virtual Digital Asset (VDA) service providers. As per the notification, such entities must comply with the provisions of the Prevention of Money Laundering Act (PMLA), related rules, and AML-CFT guidelines before obtaining FIU-IND registration.

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Ensure Regulatory Compliance with FIU-IND Registration

Our experts assist with complete FIU-IND registration, documentation, and ongoing reporting requirements—accurately and within timelines.

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What is FIU-IND Registration?

FIU-IND is an organisation under the Department of Revenue, Ministry of Finance, Government of India, authorised to collect financial intelligence related to offences under the Prevention of Money Laundering Act, 2002.

It also plays a key role in coordinating efforts of national and global agencies in tackling money laundering and related financial crimes.

Who is a Reporting Entity under FIU-IND?

A “reporting entity” is any business or profession notified under Section 2(wa) of PMLA, including:

• Banking companies
• Financial institutions
• Intermediaries
• Professionals and designated businesses
• Virtual Digital Asset (VDA) service providers

Reporting entities must follow RBI-prescribed KYC norms. Therefore, FIU-IND registration is mandatory for smooth and compliant operations, including for NBFCs.

Key Functions of FIU-IND

FIU-IND operates independently and reports directly to the Economic Intelligence Council (EIC). Its major functions include:

Collection of Information

FIU-IND collects reports such as:

• Cash Transaction Reports (CTR)
• Suspicious Transaction Reports (STR)
• Cross-border wire transfer reports
• Transactions involving NPOs
• Property purchase/sale reports

Analysis of Transactions

The unit analyses financial data to identify suspected money laundering activities.

Sharing Intelligence

FIU-IND shares information with:

• Law enforcement agencies
• Regulatory authorities
• Foreign FIUs

Central Repository

It acts as the central database for financial transaction reporting in India.

Coordination with Agencies

FIU-IND works with regional, national, and international organisations to strengthen enforcement.

Research & Development

It also conducts research on emerging financial crime trends, terrorist financing, and AML measures.

FIU-IND Registration Compliance Requirements

Before applying, reporting entities must ensure compliance with:

• PMLA provisions
• PML Rules
• AML-CFT guidelines

Key requirements include:

• Overview of business operations and applicability under notification dated 7th March 2023
• Organisational structure and beneficial ownership details
• Incorporation documents, financial statements, annual reports (last 3 years)
• GST registrations and returns (last 3 years)
• Form 26Q/26QE and Income Tax Returns for VDA-related TDS
• Agreements with Indian or foreign partners (if any)
• Additional disclosures as required by FIU-IND

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Documents Required for FIU-IND Registration

Entities must keep the following documents ready:

• Identity and address proof (certified copy)
• Recent photograph
• Business and financial status documents
• Certificate of Incorporation, MOA & AOA (for companies)
• Board Resolution and Power of Attorney
• Partnership Deed (for firms)
• Trust Deed (for trusts)
• Authorisation documents for managers/officers

FIU-IND Registration Process

FIU-IND registration involves two stages:

Step 1: Registration of Reporting Entity

• Submit application form with supporting documents
• FIU-IND verifies details
• Registration certificate is issued upon approval

Step 2: Principal Officer Registration

• After entity registration, principal officer details must be filed
• Principal officer becomes responsible for compliance and reporting

Consequences of Non-Compliance

FIU-IND registration is mandatory. Failure to comply may lead to:

• Regulatory penalties under PMLA
• Increased scrutiny and enforcement actions
• Business disruption for financial and VDA service providers

Consult mnpartners.in to ensure smooth compliance with minimal effort.

FIU-IND Registration Fee

The professional fee for FIU-IND registration is approximately (inclusive of documentation and advisory support)

Timeline for FIU-IND Registration

The registration process generally takes 1 months, depending on verification and document submission.

Reports to be Filed Under FIU-IND

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Frequently Asked Questions (FAQs)

What is the role of FIU-IND?

FIU-IND receives, analyses, and shares intelligence on suspicious financial transactions.

Is FIU-IND registration mandatory for NBFCs?

Yes, NBFCs are reporting entities under PMLA and must register with FIU-IND.

How can FIU-IND registration be initiated online?

Registration is initiated through the official FIU-IND portal by selecting “Register New User.”

What is the full form of FIU?

FIU stands for Financial Intelligence Unit.