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General insurers, state government insurance departments, and regulated entities must send all fee and penalty payments to designated bank accounts. The entities must submit confirmation of any remittance to the Accounts Department of IRDAI on the same day. IRDAI ignores payments made without the confirmation email. The circular takes effect immediately.
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[Image omitted. See the official document.]
To all General Insurers / and State Government Insurance Departments
Ref: IRDA/NL/CIR/MISC/127/08/2018
Date: 10.08.2018
Payments to IRDAI Bank Accounts.
It is hereby brought to the notice of all concerned, that any remittance made to IRDAI bank accounts towards Annual fee / registration fee etc... shall be made as per the following details and paid to the designated bank accounts only.
| Bank Account No. | Nomenclature of the Account | Nature of payment | Name of bank/ Bank branch/ IFSC |
|---|---|---|---|
| 860120100001938 | Insurers (General Insurers / Exempted Insurers) | 1. Registration Fees 2. Annual Fees 3. Any other fees which may be applicable from time to time. | Bank of India Basheer Bagh Branch BKID0008601 |
| 860120110000682 | IRDAI Penalty Receipts | All Penalties levied by the Authority on all regulated entities. | Bank of India Basheer Bagh Branch BKID0008601 |
Further, all companies shall inform the Accounts Department of IRDAI of any remittance made in the above bank accounts, in the format prescribed in Annexure-I, at accounts [at] irda [dot] gov [dot] in with a copy marked to ypriyab [at] irda [dot] gov [dot] in, on the day of making the remittance.
Any remittance made to the above accounts without the above confirmation mail shall not be taken into account by IRDAI.
This circular is issued with immediate effect.
[Image omitted. See the official document.] (Y. Priya Bharath) Chief General Manager( Non life)
सर्वे नं. 115/1, फाइनेंशियल डिस्ट्रिक्ट, नानकरामगुडा, हैदराबाद-500 032, भारत दूरभाष: +91-40-2020 4000, फैक्स: +91-40-2020 4555 वेबसाइट : www.irdai.gov.in Survey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India Tel : +91-40-2020 4000, Fax : +91-40-2020 4555 Website : www.irdai.gov.in
Annexure-I
Format for providing information to Accounts Department and Nonlife Department:
| IRDAI Account no. | |
| Name of Entity | |
| Type of Entity | |
| Nature of remittance | |
| Amount (Rs.) | |
| Year for which the remittance is made | |
| Payee Bank & Branch | |
| Payee account number | |
| Payee account name | |
| Date of Remittance | |
| Mode of Remittance (NEFT/RTGS/IMPS) | |
| UTR/ Reference No. of transaction |
