Frequently Asked Questions
Who can apply for financial sanctions?
Any organization/Association/Society which fulfills the criteria/ guidelines for financial assistance under the IEPF can apply.
How to apply?
The organizations are required to submit their applications in Form 3 and Form 4.
What is IEPF?
Investor Education and Protection Fund (IEPF) has been established under Section 205C of the Companies Act, 1956 by way Companies (Amendment) Act, 1999 for promotion of investors’ awareness and protection of the interests of investors.
What activities are being undertaken by IEPF?
Investor Education and Protection Fund (awareness and protection of investors) Rules, 2001 stipulate the activities related to investors’ education, awareness and protection for which the financial sanction can be provided under IEPF.
(i) Activities stipulated under Rules
- Education programme through Media - Organizing Seminars and Symposia -
Proposals for registration of Voluntary Associations or Institution or other organizations engaged in Investor Education and Protection activities
Proposals for projects for Investors’ Education and Protection including research activities and proposals for financing such projects
- Coordinating with institutions engaged in Investor Education, awareness and protection activities
(ii) Activities undertaken by IEPF till date
Educating and creating awareness among investors through Voluntary associations or organizations registered under IEPF. – 100 associations have been registered so far.
Educating investors through Media, Conducted panel discussions on DD (Delhi, Mumbai, Kolkata, Chennai and Ahmedabad), Telecast of TV Video spots on DD & private channels, print advertisement in national as well as regional newspapers. All these programmes have been undertaken in Hindi, English and regional languages.
- Organizing seminars and workshops through associations registered under IEPF; - Financing research projects pertaining to investor education, awareness; -
Coordinating with institutions engaged in investor education, awareness – Indian Institute of Capital Markets (IICM) has been engaged for conducting research/study on unclaimed dividend, interest etc. and also conducting “Training of Trainers” programme.
What is the procedure for Registration?
Any association or institutions or organizations, engaged in the activities relating to investors awareness, education and protection and proposing for investors programmes; organizing seminar; symposia and undertake projects for investor protection including research activities may register itself under Investor Education and Protection Fund. Such NGOs/Voluntary agencies which fulfill the criteria/guidelines for the purpose of financial assistance from the Investor Education and Protection Fund may apply to the IEPF for such assistance in Form 3 and Form 4.
What is procedure for crediting to IEPF? (i)
Any amount required to be credited by the companies to the Fund, as provided in the Act shall be remitted within a period of thirty days of such amounts becoming due to be credited to the Fund.
The amount shall be tendered by the companies on behalf of the Central Government in approved branches of authorized banks along with challan (in triplicate) and the Bank will return two copies duly stamped to the Company as token of having received the amount.
Every Company shall file with the concerned Registrar of Companies one copy of the challan referred to in (a) evidencing deposit of the amount to the Fund. The Company shall fill in the full description and nature of the amount tendered and its Head of Account.
Every Company shall, when effecting a credit to the account of the Fund, will separately furnish to the concerned Registrar of Companies a statement in Form 1 duly certified by a Chartered Accountant or a Company Secretary or a Cost Accountant practicing in India or by the statutory auditors of the company. However, it is mandatory that each Company keep a record relating to folio number, Certificate Number etc. in respect of persons to whom the amount of unpaid or unclaimed dividend, application money, matured deposit or debentures, interest accrued or was payable, for a period of three years and the Committee or Sub-Committee shall have powers to inspect such records of that period.
Which amounts are to be credited to IEPF?
The following amounts that remained unpaid and unclaimed for a period of seven years from the date they became due for payment is credited to the fund:
amounts in the unpaid dividend accounts of the companies;
the application moneys received by companies for allotment of any securities and due for refund;
matured deposits with companies;
matured debentures with companies;
the interest accrued on the amounts referred to in clauses (i) to (iv);
grants and donations given to the fund by the Central Government, State Governments, companies or any other institutions for the purposes of the fund; and
the interest or other income received out of the investments made from the fund.
What are the criteria for the purpose of financial assistance from the IEPF?
Criteria/guidelines for the purpose of financial assistance from the Investor Education and Protection Fund are as follows:
Any organization/entity who has a viable project proposal on investors education and protection should be eligible for assistance from the Fund
The limit for each person/organization for assistance from the Fund should be subject to 5% of the budget of IEPF during that financial year and not exceeding 80% of the amount to be spent on the proposed programme/activity.
The associations or institutions or organizations already engaged in activities relating to investor awareness, education and protection and proposing to take up investors programmes, organizing seminars, symposia etc. shall undertake projects for investor protection including research activities.
The associations or institutions or organizations shall be registered under the Societies Registration Act or formed as Trusts or incorporated companies.
Associations or institutions or organizations, shall unless specific exemption has been made in this regard by the Committee on IEPF, be in existence for a minimum period of 2 years prior to its date of application for registration.
(vi) Associations or institutions or organizations shall have a minimum of 20 Members and a proven record of 2 years. (vii)
The association or institution or organization shall have rules, regulations and or by-laws for the governance and management of the association or institution or organization. These rules, regulations and or by-laws shall be in conformity with the conditions of registration. The association or institution or organization shall be managed by a governing Board/management committee.
No profit making association or institution or organization shall be eligible for registration for the purposes of financial assistance from the fund.
(ix) Notwithstanding the above the Committee on IEPF can give a project to any organization. (x)
The amount of grant assistance given from the Fund shall be subject to an audit by the Department of Company Affairs to ensure its proper utilization.
While considering the proposals the Committee will take into account the audited accounts and the annual reports of the last three years of the organization seeking assistance from the Fund.
1. What is the procedure to file details of unclaimed and unpaid amount?
Form 5 INV is required to be filed by the company which shall contain investor wise details of unclaimed and unpaid amounts in respect of dividends, debentures, deposits, etc. The details of unclaimed and unpaid amounts shall need to be provided as on the Annual General Meeting (AGM) date. This form is to be filed annually within 90 days from the date of AGM. The form can be downloaded from the IEPF portal of the Ministry (http://www.iepf.gov.in/).
2. I have filed Form 5-INV on the IEPF portal. What is the procedure to upload the investor wise details of unclaimed and unpaid amount?
After the Form 5- INV is filled and uploaded on the IEPF portal, you are required to provide the investor wise details of unclaimed and unpaid amount.
Following are the steps which need to be followed to upload the investor wise details of unclaimed and unpaid amounts:
1. Install the Pre-requisite Software's to proceed. To know and install the same click on 'Prerequisite Software' link
2. Download the Excel toolkit
3. Download the excel template from the IEPF portal in the zip format
4. Unzip the zip file and save the template in xls (97-2003) and .xlsm(2007) format only
5. Fill the required details in the excel file
- The excel template is having three worksheets
ReadMe – Worksheek having instructions to fill the investor details. The users should go through these instructions before filling the investor details so that minimal errors are occurred.
Investor Details – Worksheet in which users have to enter the details of unclaimed and unpaid amounts.
Error – Worksheet in which errors shall be displayed upon click of Validate button in Investor Details,
- In Investor Details worksheet,
- The user is required to enable the Macros in downloaded excel template so that offline validations can be performed through the Validate button.
It is important that you Enable Macro using following instructions:
- Excel 2003: Tools-->Macro-->Security-->Select 'Low'-->OK
- Excel 2007: Office Button-->Excel Options-->Trust Center-->Trust Center Settings-->Macro Settings-->Enable all Macros-->OK
Please Note: Close the Excel Sheet and re-open it after enabling Macro to start.
For all other excel types please use the help functionality of the Excel.
- The users is required to enter the valid CIN against CIN text field
- On click of the Prefill button, the company name against company name filed shall be filled automatically.
- The user is required to enter the required details Columns A to O for Investor Details (row 15 onwards) like First Name, Middle Name, Last Name, Address, Country, State etc
- The user is required to select the Country, State, District and Investment Type.
- The date should be in DD-Mon-YYYYformat.
- The user can also copy the entire set of columns from other sources and paste into investor details Columns A to O for Investor Details (row 15 onwards) in downloaded excel template.
- Once the entire investor details are entered or copied, the user is required to press the Validate button for the below mentioned offline validations:
- Investor First Name -> Mandatory if Last Name is blank and Length should be less or equal to 35 characters.
- Investor Middle Name -> Length should be less or equal to 35 characters.
- Investor Last Name -> Mandatory if First Name is blank and Length should be less or equal to 35 characters.
- Father/Husband First Name -> Mandatory if Father/Husband Last Name is blank and Length should be less or equal to 35 characters.
- Father/Husband Second Name -> Length should be less or equal to 35 characters.
- Father/Husband Last Name -> Mandatory if Father/Husband First Name is blank and Length should be less or equal to 35 characters
- Address -> Mandatory and Length should be less or equal to 300 characters
- Country -> Mandatory and List of all countries shall be there.
If the Country is other than INDIA state will be “NA”.
- State -> Mandatory and If the Country is “INDIA”, the state should Indian state
- District -> If the Country is “INDIA”, the district should be Indian districts corresponding to the state selected in dropdown.
- Pincode -> Mandatory and Length should be less or equal to 35 characters.
- Folio Number -> Mandatory and Length should be equal to 20 characters.
- Investment Type -> Mandatory and Length should be less or equal to 35 characters.
- The errors identified shall be displayed in the ‘Error’ worksheet.
- Once all the listed errors are removed, the user shall save the updated excel sheet.
- Filled in excel file needs to be uploaded on the IEPF portal within 14 days of upload of eForm 5-INV.
- For Uploading the excel file on IEPF portal:
- Click on the link ‘ Upload investor-wise details of unclaimed and unpaid amounts’ on the IEPF sub-site. The path for the same is as follows:
MCA Portal >> Investor Services >> IEPF >> IEPF Application >> Upload Investor Details
- Enter the User ID, Password (provided at the time of upload of eForm 5-INV) along with SRN of Form 5-INV and CIN. Please ensure that the details entered are correct.
- Click on validate button. After the details are validated, upload the excel file containing investor-wise details of unclaimed and unpaid amounts .
- Multiple excel files can be uploaded in respect of a particular Form 5-INV, if required. All the excel files should be uploaded within the aforesaid time period.
- Ensure that the correct details are uploaded on the IEPF portal as an excel file once uploaded cannot be deleted. To modify the details, the excel file with the same file name shall have to be uploaded which shall replace the earlier file.
- In case no excel file is uploaded within the prescribed time limit, the filing of Form 5-INV shall be treated as Defective and the form shall be rejected.
3. Is the process complete once the details are uploaded? When does it get completed?
Once the excel file(s) has been uploaded, user is required to confirm the upload of the same on the IEPF portal within 15 days of upload of the eForm 5-INV.
- To confirm the upload of the investor-wise details, following steps are to be followed:
- Click on “Confirm Upload of unclaimed and unpaid amount details”. Path for the same is as follows:
- MCA Portal >> Investor Services >> IEPF >> IEPF Application >> Confirm Uploaded Files
- Enter the CIN and SRN details and clicks on “Confirm” button.
- On successful confirmation, the details shall be processed and thereafter the Form 5- INV shall be marked as ‘Approved’.
- In case uploaded excel files are not confirmed within the aforesaid time period, then the same will be automatically confirmed by the system.
Please note that the filing of Form 5-INV shall be treated as complete only after the excel file(s) are uploaded and confirmed.
4. What will happen if I have uploaded an excel file wrongly? Is there any provision to modify the already uploaded excel file?
Ensure that the correct details are uploaded on the IEPF portal as excel file once uploaded cannot be deleted.
To modify the details, an excel file with the same file name (as of the original file) shall have to be uploaded which shall replace the original file.
Please note that no excel file can be modified after the upload has been confirmed. After confirmation, the details shall be processed and shall not be allowed to be modified.
6. What will happen if the excel file containing the investor-wise details is not uploaded within the prescribed time period?
In case no excel file is uploaded within the prescribed time limit, the filing of Form 5-INV shall be treated as Defective and the form shall be rejected..
7. Within how many days do I need to confirm the upload of excel file?
The upload of excel file needs to be confirmed within 15 days of upload of eForm 5-INV.
8. What will happen if I do not confirm the upload of excel file?
In case uploaded excel file(s) are not confirmed within the prescribed time period, the same will be automatically confirmed by the system.
9. Is there any fee for filing the Form 5- INV?
No, there shall not be any fee required to be paid for Form 5- INV.
10. My form status is showing as Rejected. What should I do?
In case the form has been marked as defective, its filing shall be cancelled and shall stand rejected. You will have to file the Form 5- INV again on the IEPF portal. Thereafter you shall be required to upload the excel files again and confirm the same.
11. I have uploaded and confirmed the details still my SRN status is showing as ‘Rejected’. Why is it so?
In case the Form 5INV is marked as defective, the status of the SRN is changed to Rejected. Following are the scenarios in which Form 5- INV will be marked as defective:
a. In case there is a mismatch in the CIN, company name entered in the excel file (Investor-wise details of unclaimed and unpaid amount) vis-à-vis the information filed in the eForm 5INV;
b. On non-fulfillment of mandatory validations, ,
c. In case there is a mismatch between the sum of amount due in respect of all investors as entered in the excel file(s) (Investor-wise details of unclaimed and unpaid amount) vis-à-vis the total unclaimed and unpaid amount as entered in the eForm 5INV.
d. In case no excel file is uploaded within 14 days of upload of eForm 5-INV.
12. What equipments (hardware and software) one must have?
- MS Office (97 and above)
- Microsoft Office XP Web Services Toolkit 2.0
13. How to download the required software?
- MS Office (97 and above) needs to be purchased by the user from market
- • Microsoft Office XP Web Services Toolkit 2.0. Click here to download
14. How can I search for unclaimed and unpaid amount standing to my credit?
A search facility is provided for the investors to search for unclaimed and unpaid amount standing to the investor’s credit. The following are the steps to be followed for searching the amount:
a. Click on the link ‘ Search for unclaimed and unpaid amounts of investors ’ on the IEPF sub-site. The path for the same is as follows:
MCA Portal >> Investor Services >> IEPF >> IEPF Application >> Search Unclaimed/Unpaid
Amountb. Enter the search criteria and click on search button . c. Search can be done using following combinations:
- Investor Name (in full) and Country (other than India)/ State/ Pin code/ District
- Investor Name (in full) and Company name (in full or part)
- Folio Number (should be same as per certificate)
- Investor Name (in full), Type of investment, Company name (in full or part)
- Investor Name (in full) and Father/ Husband Name
15. I am getting the error 'Compile Error in hidden module: Module 1' on clicking 'Validate' Button after filling the Investor Details. What does this mean?
In case you have not downloaded the Excel toolkit this error gets displayed. It is mandatory to download the Excel Toolkit before filling the investor-wise details in the Excel. Please click the following link to download the Excel Toolkit. Click here to download
16. Is it mandatory to file Form 5INV in case there are no unclaimed and unpaid amounts as referred to in sub-section (2) of section 205C of the Act?
As per the Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, Form 5INV is required to be filed only in case there are unclaimed and unpaid amounts as referred to in sub-section (2) of section 205C of the Act.
In case the company does not have any unclaimed and unpaid amounts as on the date of AGM, then in such case, it is not required to file Form 5INV.
17. Whether one form 5INV is to be filed providing details of unclaimed and unpaid amounts pertaining to all the previous seven years or whether separate forms for each year needs to be filed?
One form 5 INV is to be filed containing details of unclaimed and unpaid amounts for all the previous seven years. Refer circular number 17/ 2012 and 20/2012 for more details in this regard.
18.Can I give the details of unclaimed and unpaid amount year-wise in separate excels?
Yes, you may either prepare a consolidated excel for all the years or use separate Excel sheets for each year.
19. How to enter the mandatory details like First name, Last name, Father's name etc, in case unclaimed and unpaid dividend is in the name of the Company?
In case the investor is a non-individual, in the first name column- name of the investor should be entered. In the columns for Last Name and Father's name- 'Not Applicable' may be entered.
20. Serial number 5 in Form 5INV requires ‘Number of small shareholders’. What information should be provided in that column?
Details of small shareholders is to be provided as per the provisions of the Companies Act, 1956.
21. Is it mandatory to file form 5 INV each year?
Yes, the companies are required to file one Form 5INV each year containing details of unclaimed and unpaid amounts of previous seven years pending as on date of AGM of that year. The form is to be filed every year within a period of 90 days after the holding of Annual General Meeting or the date on which the AGM should have been held. Refer circular number 17/ 2012 and 20/2012 for more information in this regard.
22. We need to upload details of more than 1,50,000 investors. Is it mandatory to enter all the details in the excel template or can we submit CD for the same?
The details are required to be submitted in the excel template only. You can prepare multiple excel files for uploading on the IEPF website. You may use MS -Excel 2007(.xlsm) format to reduce the size of the excel files.