FIU registration process documents, who requires?

FIU registration process documents, who requires?

FIU (Financial Intelligence Unit) FIU-IND:

The Financial Intelligence Unit – India (FIU-IND) operates as the principal national agency entrusted with the systematic receipt, examination, and dissemination of financial intelligence concerning suspected money-laundering, terrorist financing, and related economic offences within the Indian regulatory and legal framework. Established pursuant to the Prevention of Money-Laundering Act, 2002, and functioning under the administrative control of the Department of Revenue, Ministry of Finance, FIU-IND constitutes a cornerstone of India’s institutional response to financial crime and forms an integral component of the country’s anti-money laundering and counter-terrorist financing (AML/CFT) architecture.

The unit is mandated to receive a broad spectrum of statutorily prescribed reports, including Suspicious Transaction Reports, Cash Transaction Reports, Non-Profit Organisation Transaction Reports, Cross-Border Wire Transfer Reports, and other specified disclosures submitted by banks, non-banking financial companies, insurance entities, securities market intermediaries, payment system operators, virtual asset service providers, and designated non-financial businesses and professions. Through the application of structured analytical tools, risk-based assessment techniques, and data-driven intelligence methodologies, FIU-IND examines large volumes of transactional information to identify unusual patterns, behavioural anomalies, and indicators suggestive of illicit financial activity. The intelligence so generated is disseminated in a timely and secure manner to competent law-enforcement agencies, regulatory authorities, and investigative bodies, thereby facilitating targeted investigations and effective enforcement action.

Beyond its operational intelligence-gathering role, FIU-IND performs a significant normative and supervisory function by issuing regulatory advisories, compliance guidelines, and interpretative clarifications aimed at promoting consistency, transparency, and adherence to AML/CFT obligations among reporting entities. It also undertakes capacity-building initiatives, inter-agency coordination, and stakeholder engagement to enhance institutional awareness and compliance culture across regulated sectors.

At the international level, FIU-IND actively cooperates with foreign financial intelligence units and multilateral bodies through information-sharing arrangements and memoranda of understanding, thereby strengthening cross-border collaboration and aligning India’s financial surveillance mechanisms with global standards, including those prescribed by the Financial Action Task Force. Collectively, the multifaceted functions of FIU-IND contribute substantially to safeguarding the integrity and stability of the Indian financial system, preventing the abuse of legitimate financial channels for unlawful purposes, and reinforcing the rule of law through an effective and intelligence-led approach to combating financial crime.

Reporting Entities Eligible for Registration under FIU-IND :

Under the Prevention of Money-Laundering Act, 2002 (PMLA), the obligation to register with the Financial Intelligence Unit–India is imposed upon a clearly defined category of persons and entities classified as “reporting entities,” reflecting the legislature’s intent to establish a comprehensive and inclusive anti-money laundering compliance framework. Reporting entities under the PMLA broadly comprise banking companies, financial institutions, and intermediaries, each of which is defined with reference to specific sectoral legislations in order to ensure regulatory clarity and uniform application. A banking company, for the purposes of PMLA compliance, includes any banking company or co-operative bank to which the provisions of the Banking Regulation Act, 1949 apply, as well as banks and banking institutions referred to under section 51 of the said Act, thereby bringing both commercial and cooperative banking structures within the ambit of FIU-IND oversight.

The category of financial institutions is defined with reference to clause (c) of section 45-I of the Reserve Bank of India Act, 1934, and expressly includes chit fund companies, housing finance institutions, authorised persons, payment system operators, non-banking financial companies, and the Department of Posts under the Government of India, thus extending reporting and registration obligations to a diverse range of entities engaged in financial intermediation and payment services. In addition, intermediaries form a distinct and significant class of reporting entities and include stock-brokers, share transfer agents, bankers to an issue, trustees to trust deeds, registrars to issues, merchant bankers, underwriters, portfolio managers, investment advisers, and other entities associated with the securities market and registered under section 12 of the Securities and Exchange Board of India Act, 1992, as well as associations recognised under the Forward Contracts (Regulation) Act, 1952, intermediaries registered with the Pension Fund Regulatory and Development Authority, and recognised stock exchanges under the Securities Contracts (Regulation) Act, 1956.

The statutory framework further clarifies the inclusion of specialised financial actors such as chit fund companies as defined under the Chit Funds Act, 1982, co-operative banks within the meaning assigned by the Deposit Insurance and Credit Guarantee Corporation Act, 1961, housing finance institutions as defined under the National Housing Bank Act, 1987, and non-banking financial companies as specified under the Reserve Bank of India Act, 1934. Collectively, these legislative definitions delineate the scope of entities eligible—and obligated—to register with FIU-IND, ensuring that institutions operating across banking, finance, securities, payments, and allied sectors are subject to consistent reporting, monitoring, and compliance obligations. This expansive definition of reporting entities reinforces the effectiveness of India’s AML/CFT regime by enabling FIU-IND to capture transactional data across the financial ecosystem, thereby facilitating timely detection of suspicious activities and strengthening the overall integrity of the financial system.

Step by Step Process of Registration as RE (Registered Entity):

Step-by-Step Process for Registration as a Reporting Entity (RE)

Step 1: Self-Enrolment of Reporting Entity

The first step in the registration process is self-enrolment as a Reporting Entity (RE) on the official portal of the Financial Intelligence Unit – India (FIU-IND), accessible at https://finnet.gov.in

. During the self-enrolment stage, the Reporting Entity is required to provide basic organisational and user-related information.

Details required for RE self-enrolment include:

• Name of the Reporting Entity
• Type of Reporting Entity
• User details, including official email address, contact number, and line of business

Step 2: Allotment of FIU Identification Number

Upon successful completion of the self-enrolment process, the Reporting Entity is allotted a unique FIU Identification Number (FIU-ID). Thereafter, FIU-IND sends an official invitation email to the registered email address of the Reporting Entity, containing login credentials and instructions to complete the registration process.

Step 3: Login on FINGate 2.0 Portal

Using the login credentials provided by FIU-IND, the user is required to log in to the FINGate 2.0 portal to proceed with the detailed registration. At this stage, the user must select the nature of the entity from the available options:

Individual Entity

Business Entity

Step 4: Entity Information Submission

A. Individual Entity

• For an individual Reporting Entity, the following details are required, most of which are auto-populated from the initial self-enrolment form:
• Personal details of the Reporting Entity
• Registered address
• Registration number (if applicable)
• Type of Reporting Entity
• Line of business (multiple lines of business may be added post-enrolment)

B. Business Entity

For a business Reporting Entity, the following details must be confirmed or furnished, with certain fields being auto-populated from the self-enrolment stage:

• Registered name and address of the entity
• Registration number
• Type of Reporting Entity
• Line of business (multiple lines of business may be selected after enrolment)

In addition, the following key managerial details are required:

Principal Officer Details:

• Name
• Designation
• Official email address
• Personal identification and contact details

Designated Director Details:

• Name
• Designation
• Official email address
• Personal identification details
• Director Identification Number (DIN) (mandatory)

Step 5: Verification and Approval by FIU-IND

Upon submission of the complete application, FIU-IND undertakes verification of the details furnished. Following successful validation, FIU-IND notifies the Principal Officer and the Designated Director through their respective personal email addresses. In the case of an individual Reporting Entity, the Primary User receives the notification directly on their personal email.

Step 6: Final Registration Confirmation

After the Principal Officer and Designated Director submit the required information and FIU-IND grants approval, the Reporting Entity is formally registered with FIU-IND. It is pertinent to note that prior to final approval of the application, the Primary User shall be deemed to be acting as the Principal Officer for compliance and communication purposes.

Conclusion

The Financial Intelligence Unit–India (FIU-IND) plays a pivotal role in strengthening India’s anti-money laundering and counter-terrorist financing framework by acting as the central repository and analytical authority for financial intelligence. Through a clearly defined statutory framework, FIU-IND brings a wide range of banking, financial, and market intermediaries within its regulatory ambit, ensuring comprehensive coverage of the financial ecosystem.

The structured and technology-driven registration process for Reporting Entities facilitates regulatory accountability, enables effective monitoring of financial transactions, and promotes timely reporting of suspicious activities. Collectively, the inclusive definition of reporting entities and the streamlined registration mechanism reinforce the integrity, transparency, and resilience of the Indian financial system while supporting effective enforcement and compliance under the Prevention of Money-Laundering Act, 2002.