The Investor Education and Protection Fund Authority (“IEPF”) has issued certain Frequently Asked Questions (“FAQs”) related to the filing of certain IEPF related e-forms for Companies.
Please see below some of them:
- Where are the requirements for filing various IEPF related e-forms?
Ans. The requirements are available in the help kit available with the respective e-forms.
- What are the changes in e-form IEPF -1?
Ans. Companies will be able to file new form IEPF -1 without attaching any challan. The companies will be able to remit the amount to be transferred online.
- What is the purpose of new e-form IEPF -1A?
Ans. It was seen that for the period prior to notification of Form IEPF -1, though the companies had remitted the amount due to IEPF but had not uploaded investor wise details in excel template. Due to absence of relevant information, the amount to be refunded to individual claimant was not verifiable. IEPF -1A shall allow companies to upload investor wise details in excel format for all such transfers whether made through INV-1, Form 1 or Challans. In future, companies shall only be required to quote SRN of IEPF -1A in their e-verification report.
- What is the time limit and fee to file form IEPF – 1A?
Ans. The time limit as per rule 5(4A) is 60 days from the date of notification of amended rules. There is no fee for this e-form as the data is being collected for the general convenience of companies and investors.
- What are the various purposes to file form IEPF – 2?
Ans. IEPF – 2 is required to be filed under rule 5(8) and 7(2B) for following purposes:
- Statement of unclaimed and unpaid amounts
- Appointment of Nodal Officer
- Appointment of Deputy Nodal Officer
- Updating of details of Nodal Officer
- Updating/Cessation of details of Deputy Nodal Officer
Except for point 1, IEPF -2 shall be event-based form. For point 1, IEPF -2 shall be filed annually.
- What is FY -7 in IEPF 2 and till what time unclaimed and unpaid amount need to be accounted for?
Ans. As per rule 5(8), FY – 7 is the financial year for which the accounts are to be adopted in AGM. All accounting for the purpose of IEPF-2, must be done till closure of the financial year.
- What is the time limit to file form IEPF – 2?
Ans. The time limit is as prescribed under rule 5(8) and 7(2B) in accordance with the purpose for which the e-form is being filed. Under rule 5(8) the form shall be filed within a period of sixty days after the 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, whichever is earlier. Initially for appointment of Nodal Officer and Deputy Nodal Officer a period of 15 days has been provided to the companies to file the e-form from date of notification of amended rules. Any changes thereafter shall be intimated within a period of 7 days thereof.
- Who can be appointed as Nodal Officer and Deputy Nodal Officer?
Ans. According to rule 7(2A), each company shall nominate a Nodal Officer, who shall either be a Director or Chief Financial Officer or Company Secretary of the company. A company may appoint one or more Officer as Deputy Nodal Officer (maximum up to 5) to assist the Nodal Officer for the purposes of verification of claim.
- What are the various purposes for which IEPF – 4 need to be filed?
Ans. IEPF -4 need to be filed for filing statement for transfer of shares pursuant to rule 6(5) and transfer of benefits under rule 6(8). For filing under rule 6(5), SRN of relevant IEPF -1/INV -1 needs to be filled, while for filing under rule 6(8), SRN of relevant IEPF -4 need to be filled.
- What is the time line for filing IEPF -4?
Ans. IEPF -4 needs to be filed within 30 days from the Corporate Action under rule 6(5) or declaration of benefits under rule 6(8). In addition, for filings made under rule 6(5), copy of public notice published under rule 6 (3)(a) shall also be attached.
Source: Investor Education and Protection Fund Authority
