The Ministry of Corporate Affairs announced on July 16, 2024, that IEPF forms must now be filled online via the MCA21 portal, digitizing the process. This impacts public and private listed companies with unpaid or unclaimed dividends transferred to the Investor Education and Protection Fund (IEPF) after seven years. To facilitate compliance, there is a 30-day relaxation on the delay fee for mandatory e-verification of IEPF-5 forms, waiving a fine of up to Rs 50,000, which can extend to Rs 2 lakh. Non-compliance penalties range from Rs 5 lakh to Rs 25 lakh.
