WOS (Write-Off Statement) Compliance
Ensure adherence to Write-Off Statement (WOS) norms with expert guidance.
Safeguard your business—comply with all RBI and FEMA requirements for write-off of export proceeds, NPAs, and cross-border receivables. Lawful Journey offers specialized Company Secretary-led services for preparing and filing Write-Off Statements (WOS) as required by RBI and FEMA. From eligibility checks and documentation to filing and audit support, we make your write-off process stress-free and penalty-proof.
Write-off of export proceeds, non-performing assets (NPAs), or foreign receivables requires strict compliance with RBI and FEMA rules. Every WOS filing must be supported with proper documentation, board approval, and justifications. Our CS team manages the entire process—from eligibility review, documentation, and RBI/AD bank liaison to tracking closure and supporting your next audit or compliance review.
- Full compliance for export and NPA write-off under RBI/FEMA
- Drafting and filing of all Write-Off Statements and supporting documents
- Regularization and advisory for delayed or legacy write-offs
- Audit-ready records and closure tracking
Why Choose WOS (Write-Off Statement) Compliance Services?
Non-compliance with RBI’s WOS rules can result in penalties, regulatory scrutiny, and delay in account closure or new approvals. Our CS-led team understands every nuance of write-off policy—ensuring all documentation, approvals, and filings are perfect for a smooth audit and regulatory closure.
CS-Led RBI/FEMA Advisory
Qualified Company Secretaries handle every write-off statement, eligibility check, and filing, ensuring compliance and clarity.
Accurate Drafting & Documentation
We prepare, review, and file all WOS forms, annexures, board resolutions, and supporting records for a penalty-free process.
Legacy & Delay Regularization
For old, delayed, or disputed write-offs, we regularize filings, manage correspondence, and represent you to RBI/AD banks.
Audit & Exit Ready
All filings, approvals, and records organized and tracked for smooth audit, compliance review, or regulatory closure.
Prompt Response & Closure
We ensure timely filings, track acknowledgments, and follow up until the write-off is fully closed.
Training & Internal Support
Workshops, process notes, and templates for your finance and compliance teams for future WOS events.
Who Needs WOS Compliance?
WOS compliance is required for any Indian company, bank, or NBFC seeking to write off outstanding foreign receivables, export proceeds, NPAs, or balances per RBI policy.
Exporters & Indian Companies
- Companies unable to realize export proceeds within permitted time
- Write-off of trade receivables from overseas customers
- Regularization of export invoices or legacy balances
Banks & NBFCs
- Banks writing off NPAs under RBI policy
- Write-off of cross-border loans or advances
- NBFCs dealing with unrecoverable foreign debts
Cross-Border Group Companies
- ODI/JV structures writing off old receivables or loans
- Indian subsidiaries of global groups closing legacy balances
- Special regularization cases requiring RBI permission
Finance, CS & Legal Heads
- In-house teams managing regulatory compliance
- Advisors/consultants handling cross-border regularization
- Auditors needing audit-proof documentation
Step-by-Step WOS Compliance Process
Step 1: Eligibility & Gap Analysis
Review the receivable/NPA, transaction trail, and all RBI/FEMA policy to confirm eligibility and documentation requirements.
Step 2: Drafting WOS & Supporting Documents
Prepare WOS forms, annexures, board resolutions, and detailed justifications for write-off, along with supporting evidence.
Step 3: Submission to RBI/AD Bank
File the WOS and all supporting documents with your AD bank or RBI, obtain acknowledgment, and track status.
Step 4: Rectification & Regularization (if needed)
Address any RBI/bank queries, file clarifications, and regularize legacy or delayed write-off cases as required.
Step 5: Audit & Record Maintenance
Maintain organized, audit-ready records of all filings, approvals, and correspondence for future reference.
Documents Needed for WOS Compliance
WOS & Board Approval Records
- Write-Off Statement (WOS) Form: RBI/AD bank prescribed format, duly filled
- Board Resolution: Company or bank approval authorizing the write-off
- Justification Note: Detailed explanation and business justification for write-off
Transaction & Regulatory Proofs
- Export Invoice / Loan Records: Full trail of the export transaction, loan/advance, or NPA
- Correspondence & Recovery Efforts: All communication showing attempts to realize the amount
- AD Bank Acknowledgments: Bank letters, queries, and acknowledgment of WOS filing
Supporting & Audit Files
- Legal & Contractual Documents: Agreements, contracts, or court orders (if any)
- Compliance Checklist: Internal summary of due dates, filings, and actions taken
- Audit Trail: Records for statutory and internal audit review
Why Choose Lawful Journey?
CS-Led Compliance Process
All WOS matters handled by Company Secretaries with hands-on RBI/FEMA expertise.
Precise Documentation & Filing
No errors—every WOS form, annexure, and supporting file is drafted, filed, and tracked.
Legacy Regularization Support
Missed or delayed write-offs? We regularize legacy cases and clear all queries with RBI/AD banks.
Audit & Closure Ready
Audit-proof records and compliance closure for future regulatory or funding events.
Prompt Filing & Tracking
Fast, deadline-driven support—no missed opportunities or regulatory delays.
Client Training & Checklists
We provide training, process notes, and checklists for your in-house finance, CS, or audit teams.
Frequently Asked Questions
-
It is the process of preparing and filing a formal statement for write-off of export proceeds, foreign receivables, or NPA, as required by RBI/FEMA rules.
-
Any Indian exporter, company, bank, or NBFC seeking to write off an unrecoverable foreign receivable, NPA, or cross-border balance under RBI policy.
-
Non-filing may block account closure, trigger penalties, delay future export/import, and cause audit/reputational issues.
-
Yes! We review your case, regularize delayed filings, handle RBI/AD bank queries, and obtain compliance closure.
-
Write-Off Statement form, board resolution, invoice/loan trail, correspondence on recovery, and supporting evidence.
-
Routine filings with all documents can be completed in 2–4 business days. Legacy or complex cases may take longer depending on RBI/AD bank response.
-
Absolutely. We prepare and organize all records for audit, funding, or compliance review.
-
Yes, all filings and records are handled with strict professional confidentiality.
-
Yes, we offer checklists, templates, and workshops for your finance, compliance, or audit teams.
-
Just contact us with your write-off details. We’ll review eligibility, prepare documents, and manage all filings until closure.
Start Your Business Journey Today
Get a free consultation with a Lawful Journey expert. We’ll help you choose the right structure, explain the process, and get your company incorporated—fast, legally, and stress-free.
Call: +91 99102 18035 Email Our Team