IEPF-1 Filing: Complete Technical, Legal & Procedural Guide

A comprehensive compliance table for corporates, CS professionals, finance teams & RTAs.

1. Legal Framework

Section	Provision	Relevance to IEPF-1 Filing
Section 124(6), Companies Act, 2013	Transfer of unclaimed dividend to IEPF after 7 years	Basis for IEPF transfer
Section 125	Establishment of IEPF & its administration	Defines IEPF authority
IEPF Rules, 2016 (Rule 5, 6, 6A)	Process of transfer and filings related to unclaimed dividend	Governs IEPF-1
MCA Notifications & Circulars	Time limits, format, clarifications	Operational requirements

2. What is Form IEPF-1?

Parameter	Details
Purpose	Reporting transfer of unclaimed dividend to IEPF
Filed By	Every company having unclaimed/unpaid dividend
Backed By	RTA records, bank statements, company books
Importance	Used by IEPF during shareholder refund (IEPF-5)

3. Mandatory Pre-Filing Reconciliation

Parties Involved	Their Role
RTA	Provides dividend register & shareholder-wise unpaid amounts
Bank	Provides unclaimed dividend account statement, interest, NEFT returns
Company	Verifies ledgers, resolves mismatches, final approval

4. Reconciliation Workflow

Step	Action	Responsible
1	Email bank requesting reconciliation for Unclaimed Dividend A/c	Company
2	CC RTA in email	Company
3	Bank shares ledger, interest, charges, NEFT returns	Bank
4	RTA verifies balance with dividend register	RTA
5	RTA updates missing entries (interest, returned ECS, corrections)	RTA
6	Company compares ledger with bank + RTA records	Company
7	Resolve mismatches before filing	All parties

5. Common Reconciliation Issues & Reasons

Issue	Cause
Bank charges missing	RTA not aware of debits
Interest mismatch	Bank credited interest but RTA not updated
Wrong dividend amount	Incorrect dividend mapping or old legacy errors
Duplicate folios	Manual data entry by RTAs
Returned NEFT not recorded	Company/RTA failed to capture ECS rejects

6. Shareholder Data Preparation (Excel Template)

Field Required in MCA Excel	Description
Shareholder Name	As per RTA records
Folio/DP ID	Must match depository format
Dividend Year	FY for which dividend is unpaid
Amount	Exact unpaid dividend
Address	As per KYC records
ISIN	Mandatory for listed companies
Remarks	For special cases

Notes:

Template must not include formulas
No merged cells
Date format must be DD/MM/YYYY

7. Step-by-Step MCA V3 Filing Process

Step	Portal Activity	Details / Notes
1	Login to MCA V3	Use authorized email ID
2	Go to IEPF → File IEPF-1	Select form from IEPF module
3	Enter company details	Auto-populated
4	Upload RTA-prepared Excel	Must match MCA template
5	Attach supporting documents	Board resolution, bank proof, register
6	Affix DSC	Director / CS / CFO / MD
7	Submit for validation	MCA takes 30–45 mins
8	Status: “Pay Misc. Fee”	Moves to NTRP

8. Payment Through NTRP

Step	Action	Details
1	Redirect from MCA to NTRP	Auto opens payment screen
2	Select Department	Investor Education Protection Fund
3	Verify SRN details	Auto fetched
4	Choose payment: Online / Offline	Offline preferred by most companies
5	Confirm amount	Check challan

9. BharatKosh Offline Payment Process

Step	Action	Key Points
1	Redirected to BharatKosh	Enable pop-ups
2	Enter bank details	Account number, IFSC
3	Validate account	System checks correctness
4	Generate depositor slip + challan	Must download both
5	Submit challan to bank	Bank debits account
6	Bank issues UTR	Essential for verification

10. Post-Payment Process

Step	Activity	Expected Timeline
1	BharatKosh sends login credentials	Within 1–2 hours
2	Login & update password	Mandatory
3	Track payment using “Track Payments”	Shows UTR status
4	Once verified → MCA updates status	Same day or next day
5	IEPF-1 considered “Filed Successfully”	Compliance complete

11. Post-Filing Obligations

Requirement	Description
Close unclaimed dividend account	After full transfer to IEPF
Maintain records for 8 years	Registers, challans, UTR, excel
Assist shareholders in IEPF-5	Your filed IEPF-1 becomes basis for refund

12. Practical Challenges

Challenge	Why It Happens
Excel validation errors	Incorrect entries / wrong template
DSC not working	Not registered on MCA V3 / expired
UTR delays	Bank internal processing
Ledger mismatch	Old unresolved errors
Data gaps from past years	Poor record-keeping

13. Best Practices for Companies

Best Practice	Purpose
Monthly reconciliation	Avoids year-end panic
Maintain year-wise dividend folders	Easy traceability
Update RTA regularly	Prevent mismatches
Prepare internal IEPF checklist	Standard process control
Maintain board approvals & notes	Required for audits

14. Final Summary (One-View Compliance Table)

Stage	Core Activity	Outcome Required
Reconciliation	Match RTA, bank & ledger data	Zero mismatch
Data Preparation	RTA prepares MCA template	Clean Excel
Filing	Upload, attach docs, DSC	Validation successful
Payment	NTRP → BharatKosh → Bank UTR	Fee paid correctly
Verification	UTR matched by MCA	IEPF-1 filed
Closure	Account closed & documented	Legal compliance complete

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Disclaimer: Every effort has been made to avoid errors or omissions in this material in spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition In no event the author shall be liable for any direct indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information Many sources have been considered including Newspapers, Journals, Bare Acts, Case Materials , Charted Secretary, Research Papers etc

Anshul Goel

LegalMantra.net Team

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