Form IEPF-2

Form IEPF-2 is an annual statement of the money transferred to the respective account which is maintained and unclaimed by the company for a period of seven years. As per the IEPF rules, it is mandatory for every company to file Form IEPF-2 regarding such unclaimed amounts within 90 days from the date of holding an annual general meeting. In this article, we look at the online procedure for filing Form IEPF-2 in detail.

To read IEPF Rules 2019 – Investor Education and Protection Fund click here

When to file Form IEPF-2?

The companies are required to file Form IEPF-2 every year containing the details of unpaid and unclaimed amounts for all the previous seven years pending as on date of the annual general meeting. Form IEPF-2 has to be filed every year within 90 days after conducting an annual general meeting or the date on which the annual general meeting is held.

Purpose of filing Form IEPF-2

The following are the various purpose to file Form IEPF-2 are listed below:

• Statement of unclaimed and unpaid amounts
• Appointment of Nodal Officer
• Appointment of Deputy Nodal Officer
• Updating of details of Nodal Officer
• Updating or Cessation of details of Deputy Nodal Officer.

Eligibility Criteria for Company

Any company, including non-banking financial companies and residuary non-banking companies, are eligible to file Form IEPF-2 under IEPF rules.

Filing of Details Regarding Unpaid and Unclaimed Amounts

The below following are some of the details to be required while filling the form.

• Names and addresses of the persons entitled to receive the sum
• Nature of amount
• Amount to which each person is entitled.
• Due date for transfer into the Investor Education and Protection Fund and
• Any other information as may be considered necessary.

Online Filing Procedure of Form IEPF-2

To file for Form IEPF-2, follow the steps given below:

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

Step 2: Download Form IEPF-2 from the official portal of IEPF.

Step 3: Fill the forms according to the instructions provided and upload the duly filled Form IEPF-2 on MCA Portal.

Step 4: After the IEPF Form-2 are filled and uploaded on the MCA portal, the user is required to make payment as per the prescribed fee.

The Form IEPF-2 is given below for your reference in the pdf format:

form_iepf-2

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

Step 6: If the form is either approved or rejected by the concerned authority, the acknowledgement of the same will be sent to the registered mail id.

Note: If the form filed for appointment of deputy nodal officer or nodal officer or for updating the details of deputy nodal officer or nodal officer, then the approved nodal officer or deputy nodal officers are required to register themselves as a nodal officer on MCA portal with their PAN card. However, the details entered while registering on the portal should match with the details provided in form IEPF-2.

Step 7: After uploading the Form IEPF-2 successfully, the user needs to upload the excel related to the Form IEPF-2.

Step 8: Enter the required details in the excel sheet and after entering the details, click on the “Validate” button.

Step 9: Now, check the error by clicking on “Errors” tab the errors will be described to rectify it.

Step 10: And then to upload your excel go to the IEPF portal and click on “IEPF” services.

Step 11: Enter the details in excel file for investor wise details of shares transferred to IEPF or amounts credit to IEPF or unclaimed and unpaid amount.

Step 12: Download the excel templates from the IEPF Portal

Step 13: Fill in the required excel template with investor-wise detail.

Step 14: After filling the details, the user needs to login using the user id and password, which was provided while making payment.

Step 15: Now, upload the excel file with the investor-wise details, and then the successful message will appear on the screen of the IEPF portal.

Step 16: After uploading, click on ‘Confirm Upload’ service under IEPF Services.

Step 17: Provide relevant details and then click on ‘Confirm’ to confirm the upload.

Step 18: In case of not confirmed by the user, then after seven days, the uploaded excel will be auto-confirmed by the system.

Note: Also, the user can check the status of the uploaded files through track option.

Applicable Fee

In the case of a company holding a share capital, the below-mentioned fee is applicable:

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

Note: In the case of a company not having a share capital, the applicable fee for filing Form IEPF-2 is Rs.200.

Additional Fee

S.No	Period of delays	Applicable Fee
1.	Up to 30 days	Two times of prescribed fees
2.	For more than 30 days and up to 60 days	Four times of prescribed fees
3.	For more than 60 days and up to 90 days	Six times of prescribed fees
4.	For more than 90 days and up to 180 days	Ten times of prescribed fees
5.	For more than 180 days	Twelve times of prescribed fees

Due Date Extended for Form IEPF-2

The due date for filing Form IEPF-2 has been extended up to 30.11.2019 in order to provide relief for the companies filing form IEPF-2. However, after the expiry of the due date, the additional fee for the period delay will be applicable for the companies.

Note: The exact notification Notification F.No. 16/01/2018-IEPFA from the Ministry of Corporate Affairs is produced below for quick reference:

GeneralCircular1_25102019