EMF and SMF Reporting
File Entity Master Form (EMF) and Shareholding Master Form (SMF) with RBI's FIRMS portal — mandatory FEMA reporting for companies with foreign investment, handled end-to-end.
Get EMF and SMF filings done on time
Share your company's foreign investment details. We file EMF and SMF on the RBI FIRMS portal within prescribed timelines.
Talk to a CS →A complete EMF and SMF reporting package
Foreign Investment Review
All foreign investment — equity, CCDs, ECB — reviewed and mapped for EMF/SMF reporting.
EMF Filing on FIRMS
Entity Master Form filed on RBI's FIRMS portal — company details, FDI sector and activity registered.
SMF Filing on FIRMS
Shareholding Master Form filed — foreign shareholder details, share class and percentage reported.
Annual SMF Update
SMF updated annually to reflect changes in shareholding, new allotments and transfers.
FC-GPR Linkage
EMF and SMF data aligned with FC-GPR filings — consistent reporting across all FEMA forms.
Compliance Documentation
FEMA reporting records maintained — entity ID, ARN numbers and portal acknowledgements archived.
What EMF and SMF reporting requires
EMF Before FC-GPR
Entity Master Form must be created on the FIRMS portal before any FC-GPR can be filed — it provides the entity ID.
SMF for Each Investment
Shareholding Master Form must reflect every foreign shareholder accurately — equity, CCDs and warrants.
Annual SMF Certification
SMF must be certified annually by the company's AD Bank confirming the foreign investment position.
Authorised Dealer Bank
All FIRMS portal filings require the company's AD Category I Bank to verify and certify returns.
FDI Sector and Activity
EMF must correctly state the company's NIC activity code and FDI sector — errors attract RBI scrutiny.
Consistent with FC-GPR
SMF shareholding data must be consistent with all FC-GPR filings — any mismatch triggers RBI query.
EMF and SMF are the foundation of all FEMA reporting. An incorrect EMF entry means every subsequent FC-GPR and FLA return will carry the error — we get the master data right from the first filing.
Common EMF and SMF filing issues
Simple steps, no surprises
Investment details compiled
All foreign investors, share classes, percentages and investment dates documented.
EMF filed on FIRMS
Entity Master Form created on RBI FIRMS portal — entity ID obtained.
SMF filed and certified
Shareholding Master Form filed and certified by AD Bank — all foreign shareholders reported.
Annual update maintained
SMF updated for new allotments, transfers and annual AD Bank certification — every year.
Other services you may need
Frequently asked questions
The EMF is the first step in FEMA reporting on RBI's FIRMS portal. Every company that has received FDI must create an entity profile on FIRMS — this generates an entity ID that is referenced in all subsequent FEMA filings including FC-GPR and the FLA return.
The SMF captures the complete foreign investment position of the company — every foreign shareholder, their country of residence, investment amount, share class and percentage. It must be filed on the FIRMS portal and certified annually by the company's Authorised Dealer (AD) Bank.
FIRMS (Foreign Investment Reporting and Management System) is the RBI's online portal for all FEMA-related filings — EMF, SMF, FC-GPR, FC-TRS, FLA return and ODI filings. All companies with foreign investment must be registered on FIRMS.
An AD Category I Bank is a bank authorised by the RBI to deal in foreign exchange. For FEMA compliance, the company's AD Bank must verify FC-GPR filings and certify the annual SMF — the company cannot file these independently without AD Bank involvement.
EMF must be filed and the entity ID obtained before the first FC-GPR is filed. Since FC-GPR must be filed within 30 days of share allotment, EMF must be set up before or immediately after the company's first foreign investment.
Ready to file your EMF and SMF with RBI?
We file EMF and SMF on the FIRMS portal, coordinate your AD Bank and maintain annual compliance — FEMA reporting done right.