Know all About Form IEPF-1

Introduction

As per various provisions of the Companies Act, 2013, Most of the times a company needs to transfer various shares and amounts to the Investor Education and Protection Fund (IEPF) in a specified period. As per IEPF rules, all the amounts and shares that have been credited to the IEPF need to be declared by the company in the statement named Form IEPF-1. Now in this article, we will discuss all bout Form IEPF-1 in detail.  

Amounts Required to be credited to IEPF

Section 125(2) of the Companies Act, 2013 lists the following amounts that are needed to be credited in the Investor Education and Protection Fund:

1. Any amount is given by the Central Government by way of grant.
2. Any donations are given to the Fund by the Central Government, State Governments or any other entity for the purpose of the Fund
3. Any amount credited in unclaimed dividend account which remained unclaimed for a period of seven years. Section 124(5).
4. Amount lying in the IEPF under section 205C of the companies act 1956.
5. The interest or income received out of the investment of the fund.
6. Any amount received under the disgorgement order of the court.
7. The application money received by the companies for allotment of any securities and due for refund.
8. matured deposits with companies other than banking companies.
9. Matured debentures with the companies…
10. Redemption amount of preference shares remaining unpaid and unclaimed for seven years or more, 
11. As such other amount as may be prescribed. 

Due date of filing form IEPF

For the purpose of filing the form IEPF-1, if the Unpaid Dividend remains unpaid or unclaimed for a period of 7 years, then IEPF-1  is required to be filed within 30 days of its transfer Amount of Unclaimed/ Unpaid Dividend along with the Interest to the IEPF form 1.

How to File form  IEPF 1

1. First one has to install the software called Pre-requisite Software as may be given on the relevant site.
2. Thereafter one has to download the Form IEPF-1 from the official portal of IEPF.
3. Then On Mca Portal, fill the required details and the user has to make the payment as may be applicable to him.
4. After completion of uploading details in the IEPF form, then Excel related to IEPF is required to be filled.
5. Upon completion of details in the IEPF form, press the VALIDATEoption in excel.
6. In case any errors are detected then rectify the error by clicking on the Errors tab.
7. Then one has to visit on the IEPF portal by clicking on “IEPF” services for uploading your excel file.
8. Investor wise details of shares transferred to IEPF in Excel file is to be provided.
9. Thereafter excel template investor wise details are required to be filled while downloading the excel templates.
10.  For login using the id and password, the User needs to fill the details.
11. Then click on the “Confirm Upload“ service under IEPF Services, then upload the excel file along with the investor-wise details.

NOTE:-After 7 days, the uploaded file will be auto-confirmed if it is showing an error.

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