The Reserve Bank of India now requires all goods and services exporters to submit an Electronic Declaration Form (EDF) to designated banks effective October 1, 2026, to streamline forex monitoring.
RBI Mandates EDF Filing for Exporters from Oct 1
The Reserve Bank of India (RBI) has mandated that all exporters of goods and services furnish an Electronic Declaration Form (EDF) to their designated authorized dealer banks starting October 1, 2026. This measure aims to enhance transparency in foreign exchange transactions and improve export data accuracy.
The EDF replaces the physical Shipping Bill declaration in digital form and integrates with existing systems like the Foreign Exchange Management (Export and Realisation of Sale Proceeds) Rules, 2000. Exporters must declare invoice-wise details including value, currency, port of shipment, and expected date of realization. Non-furnishing may affect exporter’s compliance rating and delay realization processing.
Legal and compliance teams handling export advisory must now include EDF processes in client onboarding. Banks will be required to verify and report discrepancies, increasing liability for misdeclaration. The rule applies uniformly across sectors, including digital services and software exports, reinforcing RBI’s focus on digital compliance infrastructure.
Citations
- FEMA Export Rules, 2000; RBI Circular No. 2026-27/01
