MCA replaces IEPF -1 to 5 Forms, Omits IEPF -3 and 7, New Notification Out [Read Notification]

The Ministry of Corporate Affairs ( MCA ) has replaced the  IEPF -1, IEPF – 1A, IEPF – 2, IEPF – 4 and IEPF – 5. It also omitted the form IEPF – 3 and 7. The ministry has issued the amended notification of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2024.

The changes are as follows:

Amendments in Forms

The amendment rules make significant changes to the forms used under the original 2016 Rules: The letters and figures “IEPF -3” have been replaced with “IEPF -4” wherever they occur. Similarly, “IEPF -7” has been substituted with “IEPF -1”.

Rule 6

The most notable changes have been made to Rule 6, which concerns the handling of funds and remittances:

Sub-rule (13):

The requirement to deposit funds into the specified account of the IEPF Authority maintained in the Punjab National Bank has been replaced with an online transfer to the Authority within thirty days from the due date. The provision to remit funds within thirty days from the date of enforcement of these rules has been omitted.

Sub-rule (13A):

• The same change regarding online transfer within thirty days has been applied. The timeline for remittance from the date of commencement of the previous amendments (Third Amendment, Rules, 2021) has also been omitted.

Rule 6A

Sub-rule (12):

The directive to deposit into the specified Punjab National Bank account has been replaced with an online transfer to the Authority. The wording has been updated to clarify the timing of the amount due to be credited to the Fund, emphasising that it should be done online as soon as the amount becomes due.

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