IEPF explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Two sets of rules made on 11 October 2018 under section 125(11) of the Companies Act, 2013 govern what the Investor Education and Protection Fund Authority must publish about itself. The Investor Education and Protection Fund Authority (Form of Annual Statement of Accounts) Rules, 2018 deal with its accounts, and the Investor Education and Protection Fund Authority (Form and Time of Preparation of Annual Report) Rules, 2018 deal with its annual report. The accounts rules are as amended up to G.S.R. 607(E) dated 3 October 2024 per the MCA e-book; the report rules are as notified, per the MCA e-book. Later amendments should be checked before you rely on them. For IEPF compliance, see our compliance advisory service.
The Authority keeps its accounts in the prescribed form, follows Government accounting instructions and complies with the Accounting Standards notified under section 133. At each year-end (31 March) it prepares a balance sheet, an income and expenditure account and a receipt and payment account, signed by the Chairperson and the Chief Executive Officer, sent to the CAG within three months, and preserved for at least eight years. It also prepares an annual report in the prescribed form and forwards it to the Central Government within one hundred and eighty days of the year-end.
Part 1: the Annual Accounts Rules, 2018 (G.S.R. 1023(E))
Rules 1 and 2: title and definitions
The rules came into force on publication and were notified on 11 October 2018. "Form" means the Form annexed, "Schedule" means the Schedule to that Form, "Fund" is the fund under section 125(1), "investor" is a person who has invested money in shares, debentures, bonds or deposits under a scheme or plan of a company registered under the Act, and "year" is the financial year from 1 April to 31 March.
Rule 3: form of financial statements
The Authority maintains its accounts in the Form of financial statements annexed. It follows the instructions and accounting principles issued by the Central Government from time to time. The statements must give a true and fair view of the state of affairs of the Authority and comply with the Accounting Standards notified under section 133.
Rule 4: expenditure
The officer who incurs or authorises expenditure from the Fund must follow the Standards of financial propriety and the General Financial Rules, 2017. The General Financial Rules are cited as printed.
Rule 5: the annual statement
| Sub-rule | Provision |
|---|---|
| 5(1) | At the end of twelve months ending 31 March every year, the Authority prepares the balance sheet, the income and expenditure account and the receipt and payment account, with Schedules, notes on accounts and significant accounting policies, in accordance with the notes and instructions of the Government of India, Ministry of Finance, Controller-General of Accounts as modified and annexed |
| 5(2) | The statements are approved and adopted by the Authority or a Committee authorised by it and signed by the Chairperson and the chief executive officer (the 2024 amendment substituted the chief executive officer for "one Member") |
| 5(3) | The approved accounts go to the Comptroller and Auditor-General of India or his appointee within three months after the expiry of the year, for audit |
| 5(4) | The accounts, as certified by the CAG with the audit report, after adoption by the Authority, are forwarded to the Central Government for laying before both Houses of Parliament |
Rule 6: preservation
The Authority preserves the balance sheet, the income and expenditure account, the Schedules and the receipt and payment account for a minimum period of eight years, following the year to which they relate.
The Form and its Schedule
The Form is headed "Form of the Annual Report" in the printed text although it is the form of accounts; it is to be read as the form of the financial statements referred to in rule 3. It sets out the balance sheet (corpus or capital fund, reserves and surplus, earmarked or endowment funds, secured and unsecured loans, deferred credit liabilities, current liabilities and provisions; against fixed assets, investments, current assets, loans and advances and miscellaneous expenditure), the income and expenditure account and the receipt and payment account, each signed by the Chairperson and CEO. The Schedule of the Form has twenty-six schedules: Schedules I to XI forming part of the balance sheet; XII to XXIV forming part of the income and expenditure account (including income from sales or services, grants, fees, investment income, interest earned, establishment expenses, administrative expenses, expenditure on grants, interest and depreciation); and XXV and XXVI, illustrative schedules on significant accounting policies and on contingent liabilities and notes on accounts. This article describes the structure only and does not reproduce the tables. The wider rules for the Authority's accounts are in rule 4 of the Accounting Rules.
Part 2: the Annual Report Rules, 2018 (G.S.R. 1024(E))
Rules 1 and 2
The rules came into force on publication and were notified on 11 October 2018. "Annual Report" means the annual report prepared by the Authority under section 125(11).
Rule 3: preparation and time
- 3(1). The Authority prepares once every year an Annual Report in the form in the Schedule, giving a true and full account of its activities in the year.
- 3(2). It may include any other item not in the Schedule, with the prior permission of the Central Government.
- 3(3). It forwards the report to the Central Government within one hundred and eighty days immediately following the close of the year.
- 3(4). Any matter of form and time not expressly provided for is referred to the Central Government, whose decision is final.
The Schedule: contents of the report
| Head | What it covers |
|---|---|
| A. Introduction | Chairperson's statement, objectives, important achievements |
| B. Refund applications | A narrative and tabular statement: pending at the start, received, sanctioned, rejected, closed under the 2016 amendment rules, pending at the end |
| C. Investor awareness advocacy | Workshops and seminars, details of each activity, papers and studies, others |
| D. Administration and establishment | CEO's report, composition and meetings of the Authority, appointments and exits, organisational structure, personnel table by category, employee welfare measures |
| E. Transfer of amounts to the IEPF | Amounts transferred from 2001 to the start of the year, during the year, and the balance at year-end |
| F. Transfers to the Senior Citizen Welfare Fund | Amounts at the start, during the year and the total at the end |
| G. Transfer of shares to the Authority | Shares transferred by companies at the start, during the year, refunded and available at year-end |
| H. Budget and accounts | Budget estimates, the Reserve Fund balances, allocation from the Consolidated Fund of India, actual expenditure |
| I. RTI Act | Applications received and answered, pending, and appeals before the First Appellate Authority |
This is the annual report that rule 10 of the main IEPF Rules requires within one hundred and eighty days of year-end; see our article on rules 8 to 12.
A worked example
At the close of a financial year on 31 March, the Authority prepares its balance sheet, income and expenditure account and receipt and payment account with the Schedules and notes. The Chairperson and the Chief Executive Officer sign them after the Authority or its authorised Committee adopts them. They go to the CAG within three months. After audit, the certified accounts and audit report go to the Central Government for laying before both Houses. The Authority keeps the records for at least eight years after the year to which they relate. Separately, its annual report in the Schedule's nine heads, with the refund application numbers, amounts and shares transferred, goes to the Central Government within one hundred and eighty days of the year-end.
For the people who run the Authority, see rules 1 to 9 of the Authority Appointment Rules; for the Act, see sections 124 and 125 of the Companies Act, 2013.
Need help with IEPF matters?
These rules govern the Authority itself, but what they report, transfers, refunds and shares, depends on what companies file. Our compliance advisory team can help your company keep its IEPF filings accurate.
Key takeaways
- The Authority keeps its accounts in the prescribed form and complies with Accounting Standards notified under section 133.
- It prepares a balance sheet, an income and expenditure account and a receipt and payment account for each year ending 31 March.
- The Chairperson and CEO sign; the accounts reach the CAG within three months and are preserved for at least eight years.
- Expenditure follows the standards of financial propriety and the General Financial Rules, 2017.
- The annual report has nine heads and goes to the Central Government within one hundred and eighty days of year-end.
Read next
- Rules 1-9 of the IEPF Authority Appointment Rules
- Rules 1-4 of the IEPF Rules: the Fund, accounts and audit
- Sections 124 and 125 of the Companies Act, 2013: IEPF
- IEPF Rules, 2016 guide
Disclaimer: Based on the Companies Act, 2013 rules (and the Companies (Auditor's Report) Order, 2020) named above as consolidated in the MCA e-book (consulted on 3 October 2026), with the later notifications the article names. Later amendments, fees, forms and the Companies Act, 2013 provisions referred to should be checked. This article is general information, not legal advice; check the official text before acting.