Summary: Pension Fund Regulatory and Development Authority (PFRDA) has prescribed the frequency for submission of Exception Reports and Audit Reports by Points of Presence (PoPs) undertaking activities under the National Pension System (NPS), including NPS Vatsalya/NPS Sanchay, Atal Pension Yojana (APY) and NPS-Lite, based on their subscriber base as on the last day of the preceding financial year. Under the framework applicable from FY 2026-27, NPS PoPs having 10,000 or more subscribers and APY PoPs having 1,00,000 or more subscribers must submit Exception Reports half-yearly and Audit Reports annually. NPS PoPs below 10,000 subscribers and APY PoPs below 1,00,000 subscribers must submit Exception Reports annually and Audit Reports triennially. All NPS-Lite PoPs will submit Exception Reports annually, by 30 April every year, and Audit Reports triennially. PFRDA has also mandated submission of these supervisory reports exclusively through its Tracking Reporting Analytics and Compliance (TRACE) Portal. Specified TRACE returns include R022 and R170 for APY Exception Reports, R025 and R171 for NPS Exception Reports, and R026 for NPS-Lite. PFRDA has determined the subscriber base of all PoPs as on 31 March 2026 and classified their applicable reporting periodicity in Annexure-I. PoPs must strictly follow the assigned periodicity while submitting Exception Reports and Audit Reports through TRACE.
Pension Fund Regulatory and Development Authority
Circular No. PFRDA-17/05/16/0006/2024-SUP-POP Date: 06th October 2026
To,
All Points of Presence (PoPs) undertaking activities under the National Pension System (NPS), including NPS Vatsalya/NPS Sanchay, APY and NPS Lite
Subject: Frequency of submission of Exception Reports and Audit reports by Points of Presence (PoPs) based on the revised Operational guidelines and Audit Reports.
1. In terms of the revised Operational Guidelines for PoPs under APY, NPS and NPS-Lite dated 27.02.2026, and the Audit Reports for PoPs under APY, NPS and NPS-Lite dated 17.06.2026, applicable with effect from FY 2026-27, the periodicity for submission of Exception Reports and Audit Reports by PoPs shall be determined on the basis of the subscriber base as on the last day of the preceding financial year, as under:
| Scheme | Subscriber Base | Exception Report | Audit Report |
|---|---|---|---|
| NPS | 10,000 and above | Half-yearly To be submitted within 30 (thirty) days from the end of the respective reporting period. | Annually Within 3 months from the end of the respective reporting period. |
| NPS | Less than 10,000 | Annually To be submitted within 30 (thirty) days from the end of the respective reporting period. | Triennially Within 3 months from the end of the respective reporting period. |
| APY | 1,00,000 and above | Half-yearly To be submitted within 30 (thirty) days from the end of the respective reporting period. | Annually Within 3 months from the end of the respective reporting period. |
| APY | Less than 1,00,000 | Annually To be submitted within 30 (thirty) days from the end of the respective reporting period. | Triennially Within 3 months from the end of the respective reporting period. |
| NPS Lite | All NPS Lite PoPs | Annually To be submitted within 1 month of completion of every financial Year (by 30th April every year) | TrienniallyWithin 3 months from the end of the respective reporting period. |
2. PFRDA has developed the Tracking Reporting Analytics and Compliance (TRACE) Portal, a centralised digital platform for submission, monitoring and examination of supervisory reports furnished by regulated entities. All PoPs are required to submit the aforesaid returns/reports xclusively through the TRACE Portal. In this regard, PoPs are advised to note the following returns, to be submitted based on their applicable subscriber base:
| Return Number | Name of return | Frequency |
|---|---|---|
| R022 | Exception Report – APY | Annual |
| R170 | Exception Report – APY | Half Yearly |
| R025 | Exception Report – NPS | Annual |
| R171 | Exception Report – NPS | Half Yearly |
| R026 | Exception Report – NPS Lite | Annual |
3. To facilitate PoPs in identifying the returns applicable to them, the PoP Supervision Department has determined the subscriber base of all PoPs as on 31 March 2026 and classified the applicable reporting periodicity under NPS, APY and NPS-Lite, as enclosed at Annexure-I.
All PoPs are advised to adhere strictly to the reporting periodicity applicable to them, as determined above, while submitting the Exception Reports and Audit Reports through the TRACE Portal.
Yours Sincerely
(Ashish Kumar)
Chief General Manager
