The Mandatory Provident Fund Schemes Authority (MPFA) today (23 December) launched an online service – eService – for Mandatory Provident Fund (MPF) intermediaries to submit their annual returns to the MPFA.
The introduction of the eService is the MPFA’s latest initiative to encourage a wider use of online or electronic processing by MPF practitioners to make the MPF System more efficient and cost effective.
Under the statutory regulatory regime for MPF intermediaries, they are required to submit an annual return to the MPFA once a year. Intermediaries registered on or before 1 January 2013 must submit the 2013 annual return on or before 31 January 2014.
With the eService, intermediaries can simply log on to their account on the MPFA website, fill in the forms and submit them online.
MPFA Chief Operating Officer Alice Law said, “Both principal and subsidiary intermediaries are strongly urged to make use of the eService. It is free and helps them submit their returns quickly and accurately. We have also provided an online demonstration showing intermediaries how to use it.”
Ms Law reminded MPF intermediaries to file their returns as early as possible.
Instead of using the eService, intermediaries may choose to download the forms from the MPFA website and mail them to the MPFA.
In the annual return, principal intermediaries have to provide business information, such as the names of all MPF schemes the company marketed and statistics of their MPF transactions during the reporting period. Subsidiary intermediaries – individuals working for and attached to principal intermediaries – are required to report the number of hours of attendance in Continuing Professional Development activities.