Cross Border Wire Transfer Reporting: New Threshold & Format
Current · Source: Reserve Bank of India · RBI/2013-14/574 · issued 25 Apr 2014 · ~1 min read
Quick answerRBI mandates reporting of cross border wire transfers over Rs 5 lakh to FIU-IND by 15th of the succeeding month using the existing TRF format on FINnet gateway. This aligns with amended PML Rules, 2013.
The rule, in the simplest words
Banks must report any cross border wire transfer (sending money from India to another country or receiving money from another country into India) that is more than Rs 5 lakh.
The report must be sent to FIU-IND (the government agency that tracks money to stop illegal activities) by the 15th of the next month.
Use the same TRF format (a special form already used for other reports like cash or suspicious transactions) on the FINnet gateway (an online system) to submit the report.
A branch operations officer in Indore processes a customer's wire transfer of Rs 6 lakh to a family member in Dubai. She logs into the FINnet gateway, fills out the TRF format with the transaction details, and submits the report to FIU-IND by the 15th of the next month, ensuring her bank stays compliant and avoids penalties.
What changed
The threshold for reporting cross border wire transfers was set at Rs 5 lakh or equivalent in foreign currency, where either the origin or destination is India. The existing Transaction Based Reporting Format (TRF) used for CTRs, STRs, and NTRs must now be used for these wire transfers. Reports must be submitted electronically via the FINnet module by the 15th of the following month.
What it means for you
Banks and authorised persons must now systematically track and report all cross border wire transfers exceeding Rs 5 lakh. This increases compliance burden but strengthens anti-money laundering efforts. Non-compliance could attract penalties under FEMA and PMLA.
What you must do
Update internal systems to capture cross border wire transfers of over Rs 5 lakh for reporting.
Train staff on using the TRF format for these transactions on the FINnet gateway.
Ensure monthly reports are submitted to FIU-IND by the 15th of the succeeding month.
Verify the sample format available on the FIU-IND website for correct data submission.
Who it affects
All Authorised Persons (banks, financial institutions, intermediaries), Compliance and AML teams, FIU-IND reporting units
❓ Common questions
What is the threshold for reporting cross border wire transfers?
All cross border wire transfers of more than Rs 5 lakh or its equivalent in foreign currency, where the origin or destination is India, must be reported.
Which format should be used for reporting these wire transfers?
The existing Transaction Based Reporting Format (TRF) used for Cash Transaction Reports, Suspicious Transaction Reports, and Non-Profit Organization Transaction Reports should be used.
What is the deadline for submitting these reports?
Reports must be furnished to the Director, FIU-IND by the 15th of the succeeding month.
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/574
A.P. (DIR Series) Circular No.126
April 25, 2014
To
All Authorised Persons
Madam / Sir,
Reporting of Cross Border Wire Transfers
Please refer to our A. P. (DIR Series) Circular No. 72 dated January 10, 2013 on ‘Uploading of Reports on FINnet Gateway’ wherein all Authorised Persons were advised to upload reports as required by FIU-IND using only FINnet gateway.
2. With the amendments to Prevention of Money Laundering (PML) Rules, notified by the Government of India vide Notification No. 12 of 2013 dated August 27, 2013 and in terms of amended Rule 3, every reporting entity is required to maintain the record of all transactions including the record of all cross border wire transfers of more than Rs. 5 lakh or its equivalent in foreign currency, where either the origin or destination of the fund is in India. FIU-IND has advised that the information of all such transactions may be furnished to Director, FIU-IND by 15th of the succeeding month.
3. In this regard, it is advised that the ‘Transaction Based Reporting Format’ (TRF) already developed by FIU-IND and being used for reporting Cash Transaction Reports (CTRs), Suspicious Transaction Reports (STRs) and Non-Profit Organizations Transaction Reports (NTRs) may be used for reporting the Cross Border Wire Transfers. The information may be furnished electronically in the FIN-Net module developed by FIU-IND. All Authorised Persons are accordingly advised to take action as required by FIU-IND and ensure that reports are submitted in time as per the schedule.
4. The format along with sample data filled in as an illustration is available in the ‘Downloads’ section of the FIU-IND website ( http://fiuindia.gov.in ).
5. The directions contained in this Circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and also under the, Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009 and Prevention of Money-Laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005 as amended from time to time and are without prejudice to permission /approvals, if any, required under any other law.
Yours faithfully,
(C.D.Srinivasan)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/574 · issued 25 Apr 2014. The plain-English explanation above is BankPulse’s own independent summary.
Update internal systems to capture cross border wire transfers of over Rs 5 lakh for reporting.
📜 Compliance
Train staff on using the TRF format for these transactions on the FINnet gateway.
Ensure monthly reports are submitted to FIU-IND by the 15th of the succeeding month.
Verify the sample format available on the FIU-IND website for correct data submission.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are an IT/Systems lead at a bank this circular applies to (All Authorised Persons (banks, financial institutions, intermediaries), Compliance and AML teams, FIU-IND reporting units), your first concrete step on “Cross Border Wire Transfer Reporting: New Threshold & Format” is: “Update internal systems to capture cross border wire transfers of over Rs 5 lakh for reporting.” (RBI issued this 25 Apr 2014).
Circular: RBI/2013-14/574 -- Cross Border Wire Transfer Reporting: New Threshold & Format
Issued: 25 Apr 2014
Action required: Update internal systems to capture cross border wire transfers of over Rs 5 lakh for reporting.
Action required: Train staff on using the TRF format for these transactions on the FINnet gateway.
Action required: Ensure monthly reports are submitted to FIU-IND by the 15th of the succeeding month.
Action required: Verify the sample format available on the FIU-IND website for correct data submission.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8852&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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