Introduction: Investor Education and Protection Fund (IEPF) compliance is crucial for companies dealing with unclaimed and unpaid amounts. This comprehensive guide outlines the various forms, rules, and timeframes to ensure companies adhere to the regulations set by the Investor Education and Protection Fund Authority.
| IEPF Check List for reference | ||||
| Sr. No | Form No. | Rule No. | Particular of Form | Time period of fling |
| 1 | Form IEPF-1 | Rule 5 (1) | Statement to be furnished to the fund [(1) Any amount required to be credited by the companies to the Fund as provided under clauses (a) to (n) of sub-section (2) of section 125 of the Act shall be remitted online along with a Statement in Form No. IEPF 1 containing details of such transfer to the Authority | within a period of thirty days of such amounts becoming due to be credited to the Fund.((i.e. after expiry of 7 years from the date the amount became due for payment). |
| 2 | Form IEPF-2 | Rule 5(8) | Annual Statement(All companies which have unclaimed and unpaid amounts are required to file an annual statement of the amounts transferred to the designated account maintained by the company, till the period of 7 years by identifying the unclaimed amounts as on the date of holding of Annual General Meeting) | Within 60 days from the AGM |
| Form IEPF-2 | Rule 7(2A) and 7(2B) | The details of the Nodal Officer and Deputy Nodal Officerduly indicating his or her designation, postal address, telephone and mobile number and company authorized e-mail ID shall be communicated to the Investor Education and Protection Fund Authority in Form No. IEPF – 2 within fifteen days from the date of publication of these rules and the company shall display the name of Nodal Officer and his e-mail ID on its website:
Provided that any change in the Nodal Officer or his details shall be communicated to the Authority through Form No. IEPF-2 within seven days of such change along with board resolution thereof.] |
Within 7 days of such change along with BR | |
| 3 | Form IEPF-3 | 6(3)(c) | Details of shares and unpaid dividend Transfer of shares to the IEPF |
Within 30 days from the end of FY |
| 4 | Form IEPF-4 | Rule 6(5) | Statement of shares transferred to the IEPF. | Within 30 days of the Corporate Action taken placed |
| Records to be maintained by the Company: As stated in Rule 5(6c): The company shall maintain the record filed under sub rule (1) in the same format along with all supporting documents and the Authority shall have the powers to inspect such records | ||||
Conclusion: Navigating the IEPF checklist is vital for companies to maintain compliance with rules and timeframes. Filing the relevant forms within stipulated periods, appointing and communicating Nodal Officer details, and maintaining thorough records are essential components of IEPF compliance, ensuring companies fulfill their obligations to the Investor Education and Protection Fund Authority. Stay informed, stay compliant.
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