FAST-DS 2026 for RSU and ESPP holders
If your RSU or ESPP shares were taxed through your salary but never shown in Schedule FA, the Foreign Assets of Small Taxpayers Disclosure Scheme 2026 offers a one-time way to settle it. The window closes on 31 December 2026.
Declarations under FAST-DS 2026 can be filed from 16 August 2026 until 31 December 2026. No declaration can be filed after that date.
What FAST-DS 2026 is
The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026) is in Chapter IV of the Finance Act, 2026, with rules notified by the CBDT on 14 August 2026 (Notification 114/2026). It lets eligible taxpayers declare foreign assets or foreign income they did not report, pay a fixed amount, and receive immunity from further tax, penalty and prosecution under the Black Money Act, 2015 for what they declare.
It is not a general amnesty. It covers only what you declare, only under the Black Money Act, and a declaration with false particulars is void.
The two categories
| Category | Who it is for | Amount payable | Value limit |
|---|---|---|---|
| 1 | Foreign income or assets that were never taxed in India | 30% tax plus an equal additional amount, about 60% of the value | ₹1 crore in total |
| 2 | Foreign assets bought from income already taxed in India (or earned while non-resident), but not shown in Schedule FA | Flat ₹1,00,000 | ₹5 crore in total |
The limits apply to the total of everything declared. If the total is above the limit, the scheme cannot be used at all; there is no partial option.
Why Category 2 fits most RSU holders
When RSUs vest or ESPP shares are bought, the market value is taxed as salary in India through your payslip and Form 16. The shares themselves were bought with income that was already taxed. If the only thing missing was the Schedule FA disclosure, that is the situation Category 2 describes: a flat ₹1 lakh for the whole declaration, not a percentage of the value.
Whether your particular awards fall in Category 2 depends on your facts. Dividends never reported, shares from income earned abroad while resident, or cash that came from untaxed sources can change the answer. Check with a chartered accountant before filing.
How foreign shares are valued
Assets are valued as on 31 March 2026 under Rule 3 of the scheme rules. The general rule is the higher of the cost of acquisition and the open-market value on that date. Write-ups of the rules describe quoted shares as valued at the higher of cost and the average of the day's highest and lowest price on the exchange, using the nearest earlier trading day if the market was closed. Assets sold before 31 March 2026 still count, at the higher of cost and sale price.
FAST-DS converts values at the RBI reference rate on 31 March 2026. Schedule FA itself uses the SBI TT buying rate. Do not reuse your Schedule FA rupee figures for Form 1.
A variance of up to 20% from a later valuation by the tax officer does not by itself invalidate the declaration for assets other than bank accounts, but keep your workings and documents.
The forms, in order
- Form 1: your electronic declaration, with documents for each asset (acquisition records, valuation).
- Form 2: the department's order stating the amount payable.
- Form 3: your intimation of payment, with the challan.
- Form 4: the order certifying payment, which is your immunity certificate.
Payment is due within two months from the end of the month in which you receive Form 2. A short further period is allowed with interest; if the full amount is not paid within the outer limit, the declaration becomes void and amounts paid are not refunded. Read the dates on your Form 2 carefully.
What you will need
- Every lot: vest or purchase date, number of shares, and cost (the market value taxed as salary).
- Sales before 31 March 2026: dates and sale prices.
- The share price on 31 March 2026 (or the nearest earlier trading day) and the RBI reference rate for that day.
- Form 16 or payslips showing the RSU or ESPP perquisite was taxed, to support Category 2.
FA Ready builds the full lot history from your broker exports (acquisition dates, costs, sales and dividends), which is most of what Form 1 asks for.
Going forward
FAST-DS settles the past. From FY 2026-27 onwards, the same shares must appear in Schedule FA every year you hold them. See Schedule FA for Fidelity RSUs, step by step.
If the only year you missed is FY 2025-26, a revised return before 31 December 2026 may be simpler. Missed Schedule FA? Your options compares the two routes.