Schedule FA - Do I need to report signing authority over a foreign company's Wise Business account?

Question :snoo_thoughtful:

Hi everyone,

I'm an Indian resident filing ITR-3 and I'm confused about Schedule FA, specifically Table E (signing authority).

My situation is:

  • I'm a director of a UK private limited company.
  • The company has a Wise Business USD account (it's not my personal Wise account).
  • I don't own the funds in the account, and I don't hold any shares in the company.
  • At present, I can initiate/send payments from the Wise account using my assigned access.

My questions are:

  1. Does this count as having signing authority for Schedule FA?
  2. Does it matter that the account is with Wise Business rather than a traditional bank?
  3. Has anyone here disclosed a foreign company bank account (or Wise Business account) under Table E solely because they had payment authority?
  4. If the company changes to a dual-approval workflow where I can initiate payments but another director must approve them, would that change the reporting requirement?

I'm looking for practical experiences from people who have dealt with this while filing their Indian tax returns or from CAs who have handled similar cases.

Thanks in advance!

Posted Jul 29, 2026, 12:55 PM UTC

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