OBJECTIVE
After 6,000+ downloads of “Compliance Calendar - India” and request from subscribers for IRDAI specific inputs, we have come up with IRDAI Compliance Calendar.
This is an effort from our Lawrbit’s Regulatory team to provide a handy guide for all Compliance Officers, CFOs, Company Secretaries, to have a holistic view of compliance filing dates across various applicable laws for IRDAI entities.
- Our endeavour is to bring specific Calendars for each industry & update it regularly
- You must check our website frequently to look for the updated versions of the calendar
DISCLAIMER
- Regulatory filing dates are changed frequently by the concerned authorities
- The Reader / User should must do their own due diligence before relying on this data
Annual Filings
| S.No. | Particular | Description | Applicability | Filing Dates | Regulating Document |
|---|---|---|---|---|---|
| 1 | NA | Filing of Annual CEO Certification | Indian Insurance and Re-Insurance Companies | 30th June | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 2 | NA | Submit Information for Remuneration of KMP | Indian Insurance and Re-Insurance Companies | 30th June of Next Financial Year | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 3 | Annexure-9 | Annual Report on Status of Compliance | Indian Insurance and Re-Insurance Companies | 30th June | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 4 | Schedule I (Return of Expenses of Management) | Return of Expenses of Management by Insurers Transacting Life Insurance Business | Insurance Companies and Insurers | 31 March | IRDAI (Expenses of Management, including Commission of Insurers) Regulation, 2024 |
| 5 | Schedule II (Return of Expenses of Management) | Return of Expenses of Management – General & Health Insurance | Insurance Companies and Insurers | 31 March | IRDAI (Expenses of Management, including Commission of Insurers) Regulation, 2024 |
| 6 | Form IRDAI RET 4, Form IRDAI RET 5, Form IRDAI RET 6 | Return on Commission Payments to Agents and Intermediaries | Insurance Companies and Insurers | 15 May | IRDAI (Expenses of Management, including Commission of Insurers) Regulation, 2024 |
| 7 | Schedule II Form UA, Schedule II Form-V(Appointment of Statutory Auditor and Auditing Firm) | Submission of Audited Financial Statements Alongwith Auditor's Report | Insurance Brokers | 30th September | IRDAI (Insurance Brokers) Regulation, 2018 |
| 8 | NA | Transfer of Unclaimed Amounts to Senior Citizens Welfare Fund (SCWF) | Insurers and Policyholders | 1st March | IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 9 | NA | Furnish Financial Statement and Auditor's Report Alongwith Remarks and Observations of Auditor | Corporate Agents | 30th September | IRDAI (Registration of Corporate Agents) Regulations, 2015 |
| 10 | Form IRDAI 12 | Submit Annual Statement Alongwith Annual Report | Insurance Surveyors and Loss Assessors | 30th September | IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015 |
| 11 | NA | Misconduct of Surveyor Report | Insurance Surveyors and Loss Assessors | 31st March | IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015 |
| 12 | NA | Resubmission of March Returns with Audited Figures | Insurers and Actuary | Within 15 Days of Board Adoption | IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 13 | NA | Submission of Form IRDAI/Re-Insurance/R1 Within 3 Months for Consideration | Foreign Re-Insurers and Lloyd’s India, Syndicates of Lloyd’s India, Lloyd’s Brokers, and Lloyd’s Insurance and Re-Insurance Companies | Within 3 Months of issuance of IRDAI Re-Insurance R1 Form | IRDAI (Registration and Operations of Foreign Re-Insurers Branches and Lloyd’s India) Regulations, 2024 |
| 14 | NA | Annual Disclosure of Significant Beneficial Owners (SBO) | Insurance Companies, Re-Iinsurance Companies, and Insurers | 31 March | IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 |
| 15 | NA | Submit Board-Approved Re-Insurance Programme and Retention Policy | Re-Insurers | February 16 | IRDAI of India (Re-Insurance) Regulations, 2018 |
| 16 | NA | Revised Programme/CEO Declaration & Segment-Wise Actual Placement Submission | Re-Insurers | 30 April | IRDAI of India (Re-Insurance) Regulations, 2018 |
| 17 | NA | Submit Annual Board-Approved Agent Appointment Policy to IRDAI | Insurance Agents | 31st March | IRDAI (Appointment of Insurance Agents) Regulation, 2016 |
| 18 | NA | Annual External Audit of Database Sharing Practices | Insurers and Distributors | 30 April | IRDAI (Sharing of Database for Distribution of Insurance Products) Regulations, 2010 |
Half-Yearly
| S.No. | Particular | Description | Applicability | Filing Dates | Regulating Document |
|---|---|---|---|---|---|
| 19 | Half-Yearly Returns by Point of Sales Person (Non-Life) | Half-Yearly Returns of Policies Sold and Premiums Collected by Point of Sales Person (Non-Life) | Companies and Intermediaries (Such as Brokers and Agents) Selling Non-Life and Health Insurance Products |
|
Guidelines on Point of Sales Products and Person - Non-Life & Health |
| 20 | Half-Yearly Data Submission by Life Insurers | Half Yearly Data Submission of POS Life Products Business by Life Insurers | This Master Circular shall apply to: |
|
Master Circular on (Point of Sales Products and Persons-Life Insurance) |
| 21 | Auditor's Certificate | Auditor Certified Net Worth Certificate | Insurance Brokers |
|
IRDAI (Insurance Brokers) Regulation, 2018 |
| 22 | Annexure I-A, Annexure I-B, Annexure I-C, Annexure I-E, Annexure I-F | Returns by Insurance Broker Certificate Duly Certified by Auditor | Insurance Brokers |
|
IRDAI (Insurance Brokers) Regulation, 2018 |
| 23 | NA | Update Regarding Unclaimed Amounts | Insurers and Policyholders |
|
IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 24 | Half-Yearly Returns by Corporate Agents | Submission of Business Returns by Insurer & Segment (Life/General/Health) | Corporate Agents |
|
IRDAI (Registration of Corporate Agents) Regulations, 2015 |
| 25 | Schedule VIII | Certificate of No Forced Selling of Insurance with Principal Product | Corporate Agents |
|
IRDAI (Registration of Corporate Agents) Regulations, 2015 |
| 26 | NA | Review of Net-Worth | Insurance Web Aggregators |
|
IRDAI of India (Insurance Web Aggregators) Regulations, 2017 |
Quarterly Filings
| S.No. | Particular | Description | Applicability | Filing Dates | Regulating Document |
|---|---|---|---|---|---|
| 27 | Form A | Submit Aging Analysis of Unclaimed Amount | Insurers and Policyholders |
|
IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 28 | Form 1 | Statement of Investment and Income on Investment | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 29 | Form 2 | Statement of Downgraded Investments | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 30 | Form 3A | Statement of Investment Assets (Life Insurers) | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 31 | Form 3B | Statement of Investment Assets (General/Health/Re-Insurance) | Insurers and Actuary |
|
|
| 32 | Form 4 | Certificate on Investment Risk Management Systems | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 33 | Form 4A | Investment Exposure Reporting | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 34 | Form 5 | Statement of Investment Reconciliation | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 35 | Form 6 | Certificate under Section 27A(5) | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 36 | Form 7 | Statement of Non-Performing Assets (NPAs) | Insurers and Actuary |
|
IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 |
| 37 | NA | Maintain Quarterly Claim Settlement Data (Electronic) and Submit or Handover Claim-Related Files/Data to Insurer | Third-Party Administrators (TPAs) |
|
IRDAI (Third Party Administrators - Health Services) Regulations, 2016 |
Event-Based Filings
| S.No. | Particular | Description | Applicability | Filing Dates | Regulating Document |
|---|---|---|---|---|---|
| 38 | NA | Intimation of Resignation or Removal of Independent Director | Indian Insurance and Re-Insurance Companies | Within 30 Days of Resignation | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 39 | NA | Appointment, Re-Appointment or Change of any Key Management Persons | Indian Insurance and Re-Insurance Companies | Within 30 Days From Date of Taking Over Such Position | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 40 | Form KMP-2 | Appointment and Reporting of KMP Annual Compliance Certificate | Indian Insurance and Re-Insurance Companies | End of Financial Year | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 41 | Form A1 | Declaration of Eligibility for Appointment as Auditor | Indian Insurance and Re-Insurance Companies | At the time of appointment of auditors | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 42 | NA | Intimate of Appointment of Auditors | Indian Insurance and Re-Insurance Companies | Within 7 Working Days | IRDAI (Corporate Governance for Insurers) Regulation, 2024 |
| 43 | NA | Board Approved Policy on Manner of Soliciting Insurance Policies | Insurance Brokers | Atleast once in Three Years | IRDAI (Insurance Brokers) Regulation, 2018 |
| 44 | Schedule II Form UA, Schedule II Form-V(Appointment of Statutory Auditor and Auditing Firm) | Audited Financial Statements and Auditor's Report | Insurance Brokers | Within 30 Days of holding Annual General Meeting (AGM) | IRDAI (Insurance Brokers) Regulation, 2018 |
| 45 | NA | Material Change Bearing on Certificate of Registration | Insurance Brokers | Within 30 Days of Change/Requisition | IRDAI (Insurance Brokers) Regulation, 2018 |
| 46 | Schedule II Form Y | Approval for Scheme of Amalgamation | Insurance Brokers | Before implementing any Scheme of Amalgamation | IRDAI (Insurance Brokers) Regulation, 2018 |
| 47 | NA | For Closure or Relocation of Business place | Insurers and Policyholders | Minimum 2 Months Advanced Notice to be Served to Policyholders | IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 48 | NA | Risk Management Committee Review Outsourcing Contracts | Insurers and Policyholders | At least Once a Year | IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 49 | NA | Disclosure of Change in Material Facts Affecting Registration | Corporate Agents | Within 30 Days of Registration | IRDAI (Registration of Corporate Agents) Regulations, 2015 |
| 50 | NA | Corporate Agent Terminate Arrangement with Any Insurer | Corporate Agents | Existing Policies Serviced till Expiry of Policies or for a Period of 6 Months | IRDAI (Registration of Corporate Agents) Regulations, 2015 |
| 51 | NA | Corporate Agent Disclose Arrangement with Insurer | Corporate Agents | Within 30 Days of Entering into Such Arrangement | IRDAI (Registration of Corporate Agents) Regulations, 2015 |
| 52 | NA | Submit Modified Change Declaration as to Resignation/Death/Suspension of Director/Partner | Insurance Surveyors and Loss Assessors | Within 15 Days of Such Change | IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015 |
| 53 | NA | Submission of Final Report on Proposal Conclusion | Insurance Surveyors and Loss Assessors | Within 30 Days of Sandbox Period Completion | IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015 |
| 54 | NA | Technical and Procedural Mechanism to Resolve Policyholder Complaints | Insurers and Policyholders | Within 15 Days | IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 55 | NA | Payment of Surrender Value Within 15 Days of Receiving Valid Surrender Request and Documents | Insurers and Policyholders | Within 15 Days of Receipt of Surrender Request | IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 56 | NA | To Settle Claims After Receipt of all Required Documents | Insurers and Policyholders | Within 30 Days of Receipt of Complete Documents | IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 |
| 57 | NA | Submission of Completed Form IRDAI/Re-Insurance/R2 Post Registration Acceptance | Foreign Re-Insurers and Lloyd’s India, Syndicates of Lloyd’s India, Lloyd’s Brokers, and Lloyd’s Insurance and Re-Insurance Companies | Within 3 Months of R1 Approval | IRDAI (Registration and Operations of Foreign Re-Insurers Branches and Lloyd’s India) Regulations, 2024 |
| 58 | Form IRDAI-R2 | Submit Form IRDAI-R2 as per Schedule II | Insurance Companies, Re-Iinsurance Companies, and Insurers | Within 6 Months from R1 Approval (Extension Possible for Maximum 3 Months) | IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 |
| 59 | NA | Start Insurance Business Operations | Insurance Companies, Re-Iinsurance Companies, and Insurers | Within 12 Months from the date of Registration Extension Possible for 6 Months | IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 |
| 60 | NA | File Valuation Report and Relevant Documents Related Transfer or Allotment of Shares >5% | Insurance Companies, Re-Iinsurance Companies, and Insurers | Within 15 Days of Such Transaction | IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 |
| 61 | NA | Change in Significant Beneficial Ownership | Insurance Companies, Re-Iinsurance Companies, and Insurers | Within 30 Days of Knowledge of Change | IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 |
| 62 | NA | Change in Capital Structure | Insurance Companies, Re-Iinsurance Companies, and Insurers | Within 15 Days of Such Change | IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 |
| 63 | NA | Change in Tie-up with Insurers (Insurance Marketing Firm) | Insurers and Distributors | Within 15 Days of Change | IRDAI (Registration of Insurance Marketing Firm) (Amendment) Regulations, 2019 |
| 64 | NA | Submit Updated Version of Business Policy used for ISP Distribution Activities | Insurance Marketing Firms | Within 15 Days of Change | IRDAI (Registration of Insurance Marketing Firm) (Amendment) Regulations, 2019 |
| 65 | NA | Reapply for Registration Post Refusal | Third-Party Administrators (TPAs) | One-Year Cooling-Off Period | IRDAI (Third Party Administrators - Health Services) Regulations, 2016 |
| 66 | NA | Start Business Operations Post-Registration | Third-Party Administrators (TPAs) | Within 12 Months of Registration | IRDAI (Third Party Administrators - Health Services) Regulations, 2016 |
| 67 | NA | File Board Approved Copy of Revised or New Arrangement with Details and Justification | Re-Insurers | Within 15 Days from Board Approval | IRDAI of India (Re-Insurance) Regulations, 2018 |
| 68 | NA | Submit Updated Inward Re-Insurance Risk Underwriting Policy to IRDAI Post Any Changes | Re-Insurers | Within 15 Days from Board Approval | IRDAI of India (Re-Insurance) Regulations, 2018 |
| 69 | NA | Renew Registration by Insurance Web Aggregator | Insurance Web Aggregators | Once Every 3 Years | IRDAI of India (Insurance Web Aggregators) Regulations, 2017 |
| 70 | NA | Verification by Insurer and Issuance of Appointment Letter | Insurance Agents | Within 15 Days of Verification | IRDAI (Appointment of Insurance Agents) Regulation, 2016 |
| 71 | NA | Send Appointment Letter to the Agent | Insurance Agents | Within 7 Days of Appointment | IRDAI (Appointment of Insurance Agents) Regulation, 2016 |
Abbreviations
| Particular | Description |
|---|---|
| CEO | Chief Executive Officer |
| KMP | Key Managerial Personnel |
| IRDAI | Insurance Regulatory and Development Authority of India. |
| TPA | Third Party Administrator. |
| SBO | Significant Beneficial Owner |
| POS | Point of Sale Person |
| NPA | Non-Performing Assets (NPAs) |
| SCWF | Senior Citizens Welfare Fund (SCWF) |
Disclaimer
The information provided in this article is intended for general informational purposes only and should not be construed as legal advice. The content of this article is not intended to create and receipt of it does not constitute any relationship. Readers should not act upon this information without seeking professional legal counsel.
