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    IEPF-2 and Excel template

    Posted By : csnikita91 / Published on : 20-Jul-2018 06:30 AM / View : 1004 / Comment : 1
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    The Company has Unclaimed dividend of many previous years and has not filled IEPF Form and Excel templates on site as required under IEPF rules. Now the form to be filled. the confusion is that while preparing excel should i give information for unclaimed dividend for all previous years in a single sheet or i should use separate one. If i use single sheet, mean while the same to be filled in IEPF-2, and the form is for the particular year.

    Read more on : template excel iepf

    • Hi Nitika,

      The excel sheet of IEPF-1 and IEPF-2 are diffrent.

      Let me explain the whole thing:- 

       

      IEPF-1 is filed to transfer the entire unclaimed dividend, which has not been claimed for the period of 7 years and are kept it in bank in UNCLIAMED DIVIDEND A/C

      Points to be noted for IEPF-1:-

      • It is to be filed immediately before the date on which such unclaimed dividend becomes due for transfer to IEPF. (Ex- if the Unclaimed dividend for FY 2009-10 are required to be transferred in 21.12.2017{imaginary date} then the filing should be done within or before 21.12.2017
      • 1st an offline challan should be generated from MCA Pay Miscellaneous Fee and financial year should be the year in which such dividend was declared.
      • Now a demand draft in the name of “Pay & accounts officer, Ministry of corporate affairs, New Delhi” of same amount that shall be transferred to IEPF shall be submitted to the bank along with the offline challan.
      • Once the offline challan show “paid” on MCA (Usually Takes 5-6 Days) then file IEPF-1 with in 30days of submission of challan.
      • Then download the Excel from the IEPF website and file such Excel Sheet within 7 days and approve the same within 15 days of uploading the Excel. (It contains details of the shareholders and unclaimed dividend which is being transferred)
      • BIG BLUNDER: - always remember if the total amount to be transferred to IEPF is in fraction then round off it to +1. (Example: - 4850.75 then generate the payment challan for 4851 and Demand Draft should also be of same amount. And in IEPF-1 form we will write 4851 ignoring 4850.75 )

      IEPF-2 is filed for details of unclaimed dividend (Previous all the years ka unclaimed dividend jo yet to be transferred to IEPF) in total as on the date of the AGM held in such FY

      • To be filed within 90days of AGM
      • Excel sheet downloaded from IEPF website shall be uploaded in the same manner as the Excel was uploaded for IEPF-1.
      • Excel for IEPF-2 is different from Excel of IEPF-1.
      • Date for transfer of Unclaimed dividend to IEPF will be based on following calculation:-
      • Dividend declared on AGM + ON EXPIRY 30 days from the date of AGM (DIVIDEND DECLARATION DATE) transfer to UNPAID DIVIDEND ACCOUNT within 7 days.
      • Now such unpaid dividend shall be transferred to IEPF after expiry of 7 years from the date of transferring such amount to unpaid dividend account.
      • Summery is “after the expiry of 7 Years from the Date of Transferring it to Unpaid Dividend Account.”

       

      I HAVE MENTIONED THE MISTAKES AND BLUNDER I HAVE DONE IN PAST SO THAT YOU CAN GET AND IDEA THAT "THESE MISTAKES SHOULD NOT BE DONE FROM YOUR PART"

      THERE IS ANOTHER FORM TO BE FILED AT THE END OF FY IN RESPECT OF "UNCLAIMED AMOUNT TO BE TRANSFERED IN THE COMING FY AND THE FORM NAME IS IEPF-6 (NO EXCEL SHEET IS REQUIRED)

       

      HOPE IT HELPS YOU. AND IF YOU NEED ANY OTHER HELP. THE MAIL ME @ ABHILASH.GUPTA5121@GMAIL.COM

       

      24-07-2018 / 10:18:25 AM
      Reply



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