MCA Issues Update on Form IEPF-5: Postal Receipt Submission Now Mandatory for SRN Processing
MCA mandates updating postal receipts in the "Pending for Action" tab after submitting Form IEPF-5 to enable SRN processing
MCA – IEPF 5 – Form IEPF 5 – SRN – SRN Processing – Taxscan
MCA – IEPF 5 – Form IEPF 5 – SRN – SRN Processing – Taxscan
The Ministry of Corporate Affairs (MCA) has announced an important update for claimants submitting Form IEPF-5. To ensure successful processing, applicants must upload the postal receipt for their Service Request Number (SRN) in the "Pending for Action" tab immediately after submitting the form.
This step is essential as it transitions the SRN status to "Under Processing", enabling the company’s Nodal Officer to proceed with submitting the E-verification report to the Investor Education and Protection Fund Authority (IEPFA). Without this update, the verification process may face delays.
Applicants are advised to:
- Submit Form IEPF-5 through the designated MCA portal.
- Access the "Pending for Action" tab and upload the postal receipt linked to the SRN.
- Confirm that the SRN status changes to "Under Processing."
What is Form IEPF-5?
Form IEPF-5 is an important document under the Investor Education and Protection Fund (IEPF) Rules, which allows investors to claim unpaid dividends, matured deposits, debentures, shares, and other amounts that companies transfer to the IEPF. This fund is managed by the Investor Education and Protection Fund Authority (IEPFA), established to protect investors' interests and ensure that unclaimed funds are returned to rightful claimants.
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Who Can File Form IEPF-5?
Form IEPF-5 can be filed by:
- Shareholders or their legal heirs.
- Successors, nominees, or claimants who are entitled to the unclaimed amounts.
These applicants must demonstrate proper ownership or legal entitlement to the funds or shares they wish to reclaim.
Purpose of Form IEPF-5
The primary goal of Form IEPF-5 is to provide a standardized process for:
- Claiming unclaimed dividends, shares, or funds transferred to the IEPF by companies.
- Enabling the IEPFA to track and process such claims efficiently.
- Protecting investors' rights by ensuring legitimate claimants receive their dues.
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