Form IEPF-1

Form IEPF-1

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Form IEPF-1

Form IEPF-1 is the statement of the amounts that have been transferred or credited to the Investor Education and Protection Fund (IFPF) in a given period. As per the IEPF rules, any amount that a company needs to transfer to the IEPF will have to be remitted online along with Form No.IEPF-1. In this article, we look at the online procedure for filing Form IEPF-1 in detail.

Also, read how to apply for form IEPF-2?

When to file Form IEPF-1?

The transfer of funds using the Form IEPF-1 has to be made within a month or 30 days of the amount becoming due to submission to the fund.

Amounts Required to be credited in the IEPF

According to Section 125(2) of the Companies Act, the following amounts are required to be credited to the IEPF:

  • Any amount provided by the Central Government in the form of the grant should be credited in the IEPF.
  • Any donations provided by the State Government, Central Government, Companies or any other institution.
  • Any amount credited to the unpaid dividend account of a company which remains unclaimed or unpaid for seven years.
  • Any amount in the revenue account of Central Government which had been credited to the account specified under the Section 205A of the Companies Act and remained unpaid or unclaimed for a specified period.
  • Any amount is lying under the Investor Education and Protection Fund as per the Section 205C of the Companies Act.
  • Any income or interest received out of investments made from the fund.
  • Any amount received under the disgorgement order of the court.
  • Any money received by companies for allotment of any securities and due for the refund which had remained unpaid and unclaimed for seven years from the date it turns due for payment.
  • Any deposits with companies other than banking companies which has remained unpaid and unclaimed for seven years from the date it turns due for payment.
  • Any debentures with companies which had remained unpaid and unclaimed for seven years from the date it turns due for payment.
  • Any sale proceeds of shares arising out of issuance of bonus shares and merger for seven years.
  • Any redemption amount of preference shares remaining unclaimed or unpaid for seven or above years.
  • Any shares transferred with respect to unpaid or unclaimed dividend for seven years or more.
  • Any benefits arising out of shares held by IEPF under Section 124(6) like bonus shares, dividend etc.
  • Any sum received by the IEPF authority from such other sources as specified by the Central Government.
  • Any income earned by the IEPF Authority in any year.
  • Any amount payable as specified in Section 108 of the banking companies Act.
  • Any other sums of money collected by the IEPF Authority.
  • Any fees, grants and charges received by the authority under the rules.
  • Any sums received by the IEPF authority from such other sources as specified by the Central Government.
  • Any unclaimed or unpaid interest on deposits transferred to the fund.
  • Any unclaimed or unpaid interest on debentures transferred to the fund.

Applicable Fee

In the case of a company holding a share capital, the below following has to be remitted:

S.No Nominal Share Capital Scheduled Fee
1. Below 1,00,000 Rs.200 per document
2. From 1,00,000 to 4,99,999 Rs.300 per document
3. From 5,00,000 to 24,99,999 Rs.400 per document
4. From 25,00,000 to 99,99,999 Rs.500 per document
5. Above 1,00,00,000 Rs.600 per document

Note: In the case of a company not having a share capital, the applicable fee for filing Form IEPF-1 is Rs.200.

Additional Fee

S.No Period of delays Applicable Fee
1. Up to 30 days Two times of original fee
2. More than 30 to 60 days Four times of original fee
3. More than 60 to 90 days Six times of original fee
4. More than 90 to 180 days Ten times of original fee
5. More than 180 days Twelve times of original fee

Online Filing Procedure of Form IEPF-1

To file for Form IEPF-1, follow the steps given below:

Step 1: Click on the respective link to install with the Pre-requisite Software.

Step 2: After installation, download the Form IEPF-1 from the official portal of IEPF.

The Form IEPF-1 is given below for your reference in the pdf format:

Screenshot from 2019-11-01 17-21-21

Step 3: Complete the form with the requested detail and upload the duly filled Form IEPF-1 on MCA Portal.

Step 4: Upon filling the IEPF Form-1, uploaded the same on the MCA portal and the user is required to make payment as per the scheduled fee.

Step 5: Then, the submitted form will be processed, and the details while processing will be saved in the MCA portal.

Step 6: After uploading the Form IEPF-1 successfully, the user is required to upload the excel related to the Form IEPF-1.

Step 7: Enter the requested details in the excel sheet and click on the “Validate” button.

Step 8: On validating in case of any errors found can be rectified by clicking on “errors” tab.

Step 9: To upload your excel access the IEPF portal and Click on “IEPF” services 

Step 10: Provide the details in excel file for investor wise details of shares transferred to IEPF.

Step 11: Download the excel templates from the IEPF Portal and fill the excel template with investor-wise detail.

Step 12: After filling the details, the user needs to login using the id and password, which was provided while making payment.

Step 13: Now, upload the excel file along with the investor-wise details and click on Confirm Upload service under IEPF Services.

Step 14: In case of not confirmed by the user, then after seven days, the uploaded excel will be auto-confirmed by the system.

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