Checklist on compliance of various Provisions under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

[Updated upto: 30.09.2019]

S. No Relevant Rule Compliances E-Form Due Dates
1 5(1) Company shall file Form IEPF-1 and statement in excel template with the IEPF Authority and thereafter shall credit the amount specified under clauses (a) to (n) of section 125(2) to IEPF by ONLINE mode. IEPF-1 Within 30 days of amounts due to be credited to the fund
2 5(4A) Companies, which have transferred any amount referred under clauses (a) to (d) of section 205C (2) of the Companies Act, 1956 to IEPF or Central Government but have not filed the statement or have filed the statement in any format other than in excel template, as required under rule 5(1), shall file form IEPF-1A along with excel templates. (One Time Compliance) IEPF-1A within 60 days of notification of IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019
3 5(8) Company shall file Form and statement of unclaimed and unpaid amounts in excel template every year till the completion of seven years period.

Company shall also upload the above said statement on its website and IEPF Authority website for each of previous 7 financial year

IEPF-2 within 60 days of AGM or date on which it should have been held, whichever is earlier
4 6(3)(a) Company shall inform its shareholder concerned regarding transfer of shares in respect of which dividend has not been paid or claimed for 7 consecutive years or more to Demat Account of IEPF.

Company shall also publish a notice in the leading newspaper in English and regional language having wide circulation informing that the names of shareholders, whose shares are liable to be transferred to IEPF Authority, and their folio number or DP ID – Client ID are available on the website of the Company duly mentioning the website address

3 months before the due date of transfer of shares to IEPF
5 6(3)(b) In following cases Company is not required to transfer shares to IEPF Authority and shall furnish details of such shares and unpaid dividend to IEPF Authority:

• Where specific order of Court/Tribunal/statutory Authority restraining any transfer of shares and payment of dividend is passed

• Where shares are pledged or hypothecated under the provisions of Depository Act, 1996;

• Where Shares have already been transferred as per Rule 6(1)

IEPF-3 Within 30 days from Financial Year
6 6(1) Company shall credit all shares in respect of which dividend has not been paid or claimed for 7 consecutive years or more to the Demat Account of IEPF Authority after complying with the procedure specified in Rule 6 Within 30 days of such shares becoming due to be transferred to the IEPF
7 6(5) Company shall file form and statement in excel template with the IEPF Authority for effecting transfer of shares to Authority IEPF-4 Within 30 days of Corporate Action under Rule 6(3)(c)
8 Explanation to Rule 6(1) Company shall transfer all shares in respect of which dividend has been transferred to IEPF, on or before the 7th September 2016, to the IEPF Authority (One Time Compliance)
9 6(8) Company shall transfer all benefits accruing on shares transferred to IEPF Authority like bonus shares, split, consolidation, fraction shares and the like except right issue to IEPF DEMAT account and shall file form and statement with the IEPF Authority IEPF-4 Within 30 days of the corporate action
10 6(10), 6(11), 6(12), 6(13) & 6(14) All amount in following cases shall be remitted to IEPF in the specified Bank Account maintained with Punjab National bank and Company shall file form and statement with the IEPF Authority and shall maintain a separate ledger account for such proceeds:

• If the company is getting delisted and the Authority has surrendered shares on behalf of the shareholders in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009;

• If the company is being wound up and the Authority has surrendered the securities to receive the amount entitled on behalf of the security holders

• Any further dividend received on the shares transferred to IEPF Authority

IEPF-7 Within 30 days of transferring the amount to IEPF
11 7(2A) & 7(2B) Company which is required to credit amounts/shares or has deposited the amount or transferred the shares to IEPF shall nominate a Nodal Officer, who shall either be a Director or CFO or CS of the Company for verification of claims and coordination with IEPF Authority and shall file details of Nodal Officer with IEPF Authority.

Company may appoint one or more Officer as Deputy Nodal Officer to assist the Nodal Officer. Details of Deputy Nodal Officer shall be filed with IEPF Authority.

Company shall display the name and e-mail ID of Nodal Officer and Deputy Nodal officer on its website.

Post filing, Company shall register the details of Nodal Officer with the MCA

IEPF-2 Within 15 days of publication of IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019

Change in Nodal Officer / Deputy Nodal Officer: within 7 days of change

Refund procedure from IEPF Authority

S. No Relevant Rule Compliances E-Form Due Dates
1 7(1) & 7(8) Claimant shall file online form to claim shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares etc., which has been transferred to the IEPF.

In case claimant is a legal heir or successor or administrator or nominee of the registered share holder, claimant shall submit self-attested scanned copy of all documents as detailed in Schedule II of IEPF rules, along with the e-Form.

In case of loss of securities held in physical form, claimant shall ensure to submit self-attested scanned copy of additional documents as detailed in Schedule III of the IEPF rules along with the e-form

Web IEPF-5
2 7(2) Claimant shall also send duly signed original physical share certificate, original bond, deposit certificate, debenture certificate, as the case may be, along with Indemnity Bond, Advance Receipts, any other document as enumerated in Form IEPF-5, to the Nodal Officer at the registered office of the Company for verification
3 7(3) & 75(9) Nodal Officer shall send an online verification report to the IEPF Authority in the specified format along with the scanned copy of all the original documents submitted by the claimant in physical form duly certified by him along with the e-verification report and scanned copy of both sides of original physical share certificate or original bond or deposit or debenture certificate/s duly cancelled and certified.

In case, claimant is a legal heir or successor or administrator or nominee of any other registered security or in cases where request of transfer or transmission of shares is received after the transfer of shares by company to the IEPF Authority, Nodal Officer shall verify all requisite documents required for registering transfer or transmission and shall issue letter to the claimant indicating his entitlement to the said security and furnish a copy of the same to the Authority while verifying the claim of such claimant through its e-verification report

within 30 days from the date of receipt of claim

After 30 days report can be filed after payment of additional fee of Rs. 50 for every day subject to maximum of Rs. 2500

4 7(6) IEPF Authority shall dispose off the Application received for refund of any claim, duly verified by the concerned company, complete in all respects within 60 days from the date of receipt of the verification report from the company

Beyond 60 days application shall be disposed off after recording the reasons for the delay in writing and communicating the same with claimant

5 7(7) In case any information or incompleteness is called from the claimant, he shall file the e-form and shall send such documents as called for by the IEPF Authority, duly signed by him, to the Nodal Officer of the concerned company at its registered office for verification of the claim and company shall send a revised verification report IEPF-5 Within 15 days from communication received from IEPF Authority

Prepared by: Ridhi Sharma

Edited by: Anuja Singh Parihar

Contact us @ +91 7503035000 or visit www.tanujvohra.com

Author Bio

Qualification: Student - CA/CS/CMA
Company: TVACO.LLP
Location: Greater Kailash-1, New Delhi, IN
Member Since: 04 Oct 2019 | Total Posts: 1

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