Proof of foreign inward remittances.

A Foreign Inward Remittance Certificate (FIRC) is a document that acts as a testimonial for all the inward remittances entering India. Most of the statutory authorities accept this document as proof that an individual or a business, such as a limited company, partnership firm, sole proprietorship firm and others, has received a payment in foreign currency from outside the country.

A Foreign Inward Remittance Certificate (FIRC) is a document that acts as a testimonial for all the inward remittances entering India. Most of the statutory authorities accept this document as proof that an individual or a business, such as a limited company, partnership firm, sole proprietorship firm and others, has received a payment in foreign currency from outside the country.

Request a FIRC for every money transfer.

Every transfer of funds from your PayPal account to your bank account will require a separate FIRC. Contact the bank where your PayPal withdrawals are credited to request a FIRC and a letter addressed to Citibank with the following information:

  • Unique Transaction Reference number (UTR)
  • Customer name
  • Account number
  • Amount of money
  • Date and purpose of the payment

Questions and Answers

What is a Unique Transaction Reference number and how can I find it?

The UTR number can be found on your bank statement beside each payment from PayPal. In the example below the reference number for the deposit from the sample PayPal credit of INR 151.49 is CITIN12198884488

Figure: Sample image of PayPal credit with n-EFT reference number (UTR number) in bank statement

Is there a fee for the FIRC certificates?

There is a fee of INR 171.75 (INR 150 +14.5% service tax) per FIRC certificate charged by Citibank (i.e. per transfer from PayPal to your bank). For merchants with a Citibank account, this fee will be automatically deducted from the bank account. Merchants without a Citibank account will be required to submit a Demand Draft of the fee amount in favour of ‘Citibank N.A.’, together with the FIRC request letter.

Note: Service tax rate can change from time to time. Please check applicable service tax rate at time of creation of DD.

Who pays this fee?

You (the merchant) will need to pay the fee.

How long does it take?

  • The time taken to process the FIRC by Citibank is given below:
  • Citi account holders: 3 working days
  • Non-Citi account holders: 7 working days

Please note that the duration mentioned is the processing period and does not include the time taken to ship the documents from your bank to Citibank and back.

Who contacts Citibank with the request for the FIRC and fee?

Your bank contacts the nearest Citibank corporate branch. Citibank will then issue the FIRC certificate(s) and courier them to the address you provided. You can find the list of Citibank corporate branch locations here.