Procedures under IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

Article explains procedures under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. Article explains the relevant Rules of IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, Forms to be filed for compliance of that rule, Timeline for compliance of Rule, Attachments \ Additional Information Required to be attached with relevant IEPF Form and care to be taken for filing of IEPF forms.

S. no.	Relevant Provision	Particulars	Form required to be filed \ prepared	Timelines	Attachments \ Additional Information Required	Remarks
1	Rule 5(1) of [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer, and Refund) Rules, 2016]	Statement of amounts credited to Investor Education and Protection Fund	Form IEPF-1	Within 30 days of amounts becoming due to be credited to the Fund.	A copy of challan \ acknowledg-ment (in case of NEFT)
2	Rule 5(8) of [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer, and Refund) Rules, 2016]	The company shall furnish and upload on its own website and also on the website of Authority or any other website as may be specified by the Government. a statement of unclaimed and unpaid amounts separately for each of the previous seven financial years through Form No. IEPF-2.	Form IEPF-2	This form is to be filed annually within 60 days from the date of AGM		One form IEPF-2 is to be filed containing details of unclaimed and unpaid amounts for all the previous seven years. Please note that the filing of Form IEPF-2 shall be treated as complete only after the excel file(s) are uploaded and confirmed.
3		Filled in excel file needs to be uploaded on the IEPF portal within 14 days of upload of eForm IEPF-2	Excel IEPF-2	within 14 days of upload of eForm IEPF-2	SRN of Form IEPF-2	An excel file once uploaded cannot be deleted. To modify the details, an excel file with the same file name (as of the original file) shall have to be uploaded which shall replace the original file. Please note that no excel file can be modified after the upload has been confirmed. After confirmation, the details shall be processed and shall not be allowed to be modified.
4	Rule 6(3)(a) of [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer, and Refund) Rules, 2016]	The company shall inform its shareholder concerned regarding the 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. The 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	Nil	3 months before the due date of transfer of shares to IEPF
5	Section 124 (6) of the Companies Act, 2013 and Rule 6(3)(b) of [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016]	Where there is a specific order of Tribunal or statutory Authority restraining any transfer of such shares and payment of dividend, the company shall not transfer such shares to the Fund and shall file Statement of shares and unclaimed or unpaid dividend not transferred to the Investor Education and Protection Fund.	Form IEPF-3	Within 30 days from the end of financial year.		In the following cases Company is not required to transfer shares to IEPF Authority and shall furnish details of such shares and unpaid dividends to IEPF Authority: • Where specific order of Court \ Tribunal \ statutory Authority restraining any transfer of shares and payment of a 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)
6	Rule 6(1) of [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016]	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	Nil	Within 30 days of such shares becoming due to be transferred to the IEPF	Schedule-2
7	Rule 6(3)(d) of [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016]	For the purposes of effecting the transfer shares held in physical form- (i) Board shall authorize Company Secretary or the person to make an application, on behalf of the concerned shareholder, to the company, for the issue of a new share certificate; (ii) on receipt of the application, a new share certificate for each such shareholder shall be issued and the same be recorded in the register maintained for the purpose and the company shall inform the depository by way of corporate action to convert the share certificates into DEMAT form and transfer in favor of the Authority.	Form No. SH-1			A new share certificate for each such shareholder shall be issued and it shall be stated on the face of the certificate that “Issued in lieu of share certificate No….. for the purpose of transfer to IEPF”
8	Rule 6(5) and 6(8) of [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016]	Statement of shares transferred to the Investor Education and Protection Fund	Form IEPF-4	Within 30 days of corporate action under Rule 6(3)(c)	Attach a copy of the public notice published under clause 6(3)(a). For filing under rule 6(5), SRN of relevant IEPF-1 needs to be filled, while for filing under rule 6(8), SRN of relevant IEPF-4 needs to be filled.	All benefits accruing on such shares like bonus shares, split, consolidation, fraction shares, and the like except right issue shall also be credited to such DEMAT account
9	Rule 6(10), 6(11), 6(12), 6(13) & 6(14) [Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016]	Statement of amounts credited to IEPF on account of shares transferred to the fund	Form IEPF-7	Within 30 days from the date of remittance		The amount required to be credited by the companies to the Fund shall be remitted into the specified account of the IEPF Authority maintained in the Punjab National Bank

Tags: Companies Act, Companies Act 2013, IEPF, Investor Education and Protection Fund

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Name: CS Iram Anjum Beg

Qualification: CS

Company: Iram & Associates

Location: Hyderabad, Telangana, India

Member Since: 29 May 2021 | Total Posts: 7

I am a Practicing Company Secretary, I have handled the following works so far: GST Registration, GST Returns, Private and Public Company Registration, LLP Registration, Annual Filing of Company and LLP, RBI Compliance, FC-GPR, FC-TRS, and FLA, Recovery of Shares from IEPF, Strike Off of Company, R View Full Profile