IEPF Compliance Checklist for a Financial Year

Updated as per Section 125 of Companies Act, 2013 and Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.

S. No.  Particulars of compliance Timelines
1 Form IEPF-3 Within 30 days of the end of the Financial Year
2 The Company shall inform the shareholders regarding the transfer of shares to IEPF Authority 3 months before the due date of transfer of such shares to IEPF Authority
3 Publish a notice in the leading newspaper in English and regional language informing that the names of such shareholders and their folio no. or DPID-Client ID are available on the website of the Company 3 months before the due date of transfer of such shares to IEPF Authority
4 Form IEPF-7 Within 30 days of remitting the dividend to the IEPF Authority. Also to be filed within 30 days of remitting the payment to the authority in case the company gets delisted or wound up.
5 Dividend shall be paid or claimed Within 30 days from the date of declaration of dividend
6 Amount of dividend still unpaid or unclaimed shall be deposited in UNPAID DIVIDEND A/C. Within 7 days from the expiry of above 30 days mentioned in point 5.
7 Any amount remaining unpaid or unclaimed for the period of 7 years from the date of such transfer, shall be transferred by the company to the IEPF Authority Amount to be paid via online mode within 30 days of amounts due to be credited to the fund
8 Form IEPF-1 and statement in excel template to be filed while remitting the amount of unpaid dividend via online mode to IEPF Authority
9 Form IEPF-2 Filing of details of appointment of Nodal Officer or Deputy Nodal Officer with IEPF Authority.
10 Form IEPF-2 – Details of amount transferred to IEPF Authority in Form IEPF-1 To be filed within 60 days of AGM or the date on which it should have been held, whichever is earlier.
11 Disclosures on website Every company shall within a period of 60 days after the holding of AGM and every year thereafter till completion of the seven years, identify the unclaimed amounts, as referred in sub-section 2 of section 125 of the Act, as on the date of holding of Annual General Meeting or the date on which it should have been held as per the provisions of section 96 of the Act, separately furnish and upload on its own website and also on website of Authority or any other website as may be specified by the Government, a statement or information through Form No. IEPF-2, separately for each year containing the following information: a) Names & Last known addresses of persons entitled to receive the sum (b) Nature of amount (c) The amount to which each person is entitled (d) Due date for transfer to IEPF
12 All the shares in respect of which dividend has not been paid or claimed for 7 consecutive years shall be transferred and credited to the DEMAT account of IEPF Authority Within 30 days of such shares becoming due to be transferred to IEPF Authority
13 Form IEPF-4 within 30 days of  transfer of shares to the Authority
14 Statement containing names, last known addresses and unpaid dividend to be paid to each person To be placed on the website of the Company, if any, within 90 days of making transfer to UNPAID DIVIDEND A/C and also on any other website as approved by the Central Government for this purpose as may be prescribed
15 Form IEPF-5 Any shareholder can claim the unclaimed dividend and shares by filing form IEPF-5. After successful submission of FORM IEPF-5 by the shareholder, it shall be directly transmitted online to the Company for verification.
16 To send e-verification report along with scanned documents sent by the claimant to IEPF Authority. Company shall file an e-verification report in a specified format along with scanned documents, to IEPF Authority, within 30 days of receipt of online IEPF-5.
17 The company shall maintain record consisting of name, last known address, amount, folio number or client ID, certificate number, beneficiary details, etc. of the persons in respect of whom unpaid or unclaimed amount has remained unpaid or unclaimed for a period of seven years and has been transferred to the Fund and the Authority shall have the powers to inspect such records.

Author Bio

Qualification: CS
Company: NA
Location: Meerut, Uttar Pradesh, IN
Member Since: 29 Jan 2020 | Total Posts: 3

My Published Posts

More Under Company Law

One Comment

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

January 2021