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Merger of Form IEPF-3 with IEPF-4 and IEPF-7 with IEPF-1

MCA General Circular No.:07/2024 dated 17.07.2024

Relevant Act/ Rule: Companies Act, 2013 and IEPFA(Accounting, Audit, Transfer and Refund) Rules, 2016

Relevant Section/Rule: Section 124(6), Sub-rule (3B), (10),(11),(11A),(12),(13),(13A) of Rule 6 & sub-rule (9),(10),(11),(12) of Rule 6A

To ease the compliance burden and simplify filings, it has been decided to merge Form  IEPF-3 with IEPF-4 and IEPF-7 with IEPF-1 in MCA Ver 3. The revised Forms will be made STP (Straight Through Process).

 

For better understanding, let’s see the description of various forms being merged:

  1. Form IEPF 1 deals with Statement of amounts credited to Investor Education and Protection Fund
  2. IEPF Form-3 deals with Statement of shares & unclaimed or unpaid dividend not transferred to the IEPF
  3. IEPF Form-4 deals with Statement of shares transferred to the Investor Education and Protection Fund
  4. IEPF Form-7 deals with Statement of amounts credited to IEPF on account of shares transferred to the fund

Various amounts are required to be transferred to IEPF authority as due on shares transferred by the companies to it under Section 124(6) of the Companies Act, 2013 read with Sub – Rule (10),(11),(11A) & Sub-rule (12) of Rule 6 & Sub-rule (9),(10),(11) of Rule 6A of IEPFA(Accounting, Audit, Transfer and Refund) Rules, 2016 and Form IEPF-7 was required to be filed accordingly. In supersession of General Circular no. 12/2017, such amounts will be required to be transferred online through MCA21 through “Pay Miscellaneous Fee’ service after selecting option IEPF’

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