Claims submissions for Training Providers

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Claims submissions for Training Providers

Claims Submissions by Financial Training Providers

Claims submission for training programmes Documents to submit Additional information to note Claim worksheets to submit

Claims submission on IBF Portal

IBF Portal is for any company to submit documents to IBF e.g. training providers who need to submit training programmes for IBF’s review and accreditation; or for Financial Institutions to submit training grant claims for reimbursement. The IBF Portal account is free of charge.

Entities who wish to submit funding support claims for their workforce transformation and workforce training efforts will need to submit their application to create a Corporate Login Account on the IBF Portal.

Only 1 account may be created per entity.

The entity would be identified through the Unique Entity Number (“UEN”), which is the ACRA’s Registry of Companies (ROC) number of the entity.

The applicant will also indicate the Management Representatives authorised to manage the account in their application.

Management Representatives to be appointed for each application should be a member of the company’s management who is a department head or above.

The Management Representatives are assigned with the following rights within the IBF Portal:
(i) Ability to verify and submit claims for grants, on behalf of your organisation to IBF;
(ii) Ability to create and manage organisation details (including bank account details);
(iii) Ability to appoint and remove module Administrators to manage the respective modules within the system;
(iv) Access to all system notifications between IBF and the Administrators.

There should be 2 Management Representatives appointed at all times to ensure check and balance. The CEO may appoint himself as one of the Management Representative.

The application form has to be completed and signed by the Chief Executive Officer (or equivalent) of the organisation, with the organisation stamp affixed.
The applicant entity must also submit the Direct Credit Authorisation (DCA) form to provide the details of the bank account that funding disbursements are to be deposited into. The DCA form must be endorsed by the Bank before being sent to IBF via email at [email protected].

The Applicant are required to ensure that the documents and information submitted are true, accurate and complete. IBF may request for additional information to support its evaluation of the application.

Submission of the application form does not constitute a successful application. Applications are deemed to be complete and valid only if (i) details are submitted online via the IBF Portal and the signed copies of the Application Form for IBF Portal Account and DCA forms are sent to [email protected].

IBF will notify the CEO and the Management Representatives of the account upon successful application and a link will be provided for the Management Representative to activate the account on behalf of the entity. The account must be activated within 5 days as the activation link expires after.

Claims submission for training programmes

Courses that have commenced before 10 October 2022 should be completed by 30 June 2023 for claims to be submitted before 30 September 2023 or within 3 months from the course end date, whichever earlier.

Course Commencement Date	Between 8 April 2020 to 30 June 2022 (Enhanced course fee subsidy and Training Allowance Grant)
Eligible Funding Scheme	IBF-STS and FTS
Claims Submission By	Training Provider
Submission Channel	IBF Portal
Earliest Submission Date	Upon course completion
Submission Deadline	Within 3 months from course completion date
Disbursement	Nett Fee Model - GIRO¹ to FTP's corporate bank account Full Fee Model² – Trainees' NRIC Linked PayNow Bank Accounts

Updated on 31 March 2022
¹Duly completed Direct Credit Authorisation (DCA) forms are required to be submitted to IBF.
²Only applicable for self-sponsored individuals for IBF-STS. Please ensure that your trainees have linked their NRIC to their PayNow bank account to facilitate disbursement by IBF.

Documents to submit

	Upload into the IBF portal	Retain for audit purpose
Enhanced Course Fee Subsidy and IBF Credit (Submission by FTP)	Enhanced Funding Claims Worksheets Programme Invoices and Certificates of Completion	Exchange rate¹ records for expenses paid in foreign currency other than SGD Registration forms and acknowledgment by participants Documents to verify personal particulars² of trainees Attendance and assessment records³signed or acknowledged by the trainers and trainees Full video recording⁴ of synchronised online training sessions
Training Allowance Grant (Submission by FTP/FI/FinTech Firms)	Training Allowance Grant Worksheet Certificate of Completion	Evidence of class attendance and assessment scores

¹Exchange rate should be the daily MAS FX rate as at the date of the invoice.
²Personal particulars include full names, last four (4) alphanumeric characters of NRIC numbers, mobile telephone numbers, e-mail addresses, and nationalities.
³Attendance and assessment records should state clearly the IBF recognised course title, the start and end dates, and the start and end times of each training and/or assessment session.
⁴Full video recording should clearly show the following:
(i) date and time records of the delivery of that training session / lesson; and
(ii) date and time records of presence of Trainees corresponding to that training session / lesson.

Additional information to note
(For claim submissions by Training Providers)

Goods & Services Tax (GST)	Self-Sponsored claims Only courses commencing before 3 October 2022 should include Singapore GST. Company-sponsored claims All course fees or eligible expenses claimed should exclude Singapore GST. If GST is not separately reflected in the invoices, checks should be done to ascertain if the training provider is a GST-registered entity for which GST has already been subsumed in the costs. If so, the GST amount should be excluded from the claim.
Double-Funding	Claimants should not be claiming for any other grants, subsidies, or tax concessions, provided either by the Financial Sector Development Fund (FSDF) and/or other government agencies, unless explicitly permitted.
Administrative Fee	IBF reserves the right to charge an administrative fee in the event that there are errors associated with claims submitted, regardless of whether any grants have been disbursed.
Invoice	Mandatory details to be reflected in supporting documents: Self-sponsored trainees - Trainees’ full name (as per NRIC). Company-sponsored trainees – Trainees’ full name (as per NRIC), Financial Institution’s name and Name of whom the invoice is attention to Course Title and Code (as per IBF programme finder) Course start and end date Full course fee breakdown comprising of full course fee, funding amount, amount after funding, GST on full course fee (if applicable) Currency Exchange Rate based on date of invoice (if applicable) Invoice number Invoice date
Certificate of Completion	Mandatory details to be reflected in supporting documents: Trainee’s full name (as per NRIC) Course Title and Code (as per IBF programme finder) Course start and end date (to include either in COC or attach programme schedule together with COC for submission) FTP’s logo FTP’s authorised signature on certificate Date of certificate issued A COC must be issued to each trainee for all courses with compulsory assessment(s).
Verification of trainees’ employment for courses under the Critical Core skills and Future-Enabled skills categories	With effect from 3 October 2022: IBF-STS funding of training courses under the Critical Core skills and Future-Enabled skills categories will only be available to locals (Singapore Citizens or Singapore Permanent Residents) employed in the financial sector (i.e. by financial institutions or SFA certified FinTech firms). Training Providers must verify the trainees’ eligibility for funding by checking one of the following documents from the trainees’, CPF statement Payslip Physical staff pass Any evidence that proves the trainee’s employment with the Singapore-based Financial Institutions regulated by MAS or FinTech firms certified by Singapore FinTech Association
Licensed Representatives and General Insurance Agents	All licensed representative (e.g. financial advisers, insurance agents, remisiers) and general insurance agents registered with the General Insurance Association’s (GIA) Agent Registration Board who wish to register for FTS courses, must provide a Letter of Support from his/her Financial Institution (FI) Principal. Training providers should sight the staff pass of the licensed representative or registered agent, and check the MAS Register of Representatives / General Insurance Association (GIA) Agent Registration Board to confirm the trainee’s eligibility.
Revision to course code	Due to the migration from IBF Portal to TPGateway, a new course reference number will be issued to replace the existing course ID from 10 October 2022. Training Providers must refer to the programme finder for the latest and most updated course reference number before the claim submission.
Computation of Unit Cost	Click here to access the computation for E-learning courses. Click here to access the computation for Classroom Training.
Foreign Currency Exchange Rate	Course fees paid in foreign currency other than Singapore dollar should be converted using the daily MAS Exchange Rate based on the date of the invoice. Click here to access the MAS Exchange Rate.
Processing Timeline	IBF will take approximately 6 to 8 weeks to process the claim upon complete and accurate submission from the claim submission date. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, Direct Credit Authorisation form not submitted to IBF or nonstandard cases).

Claim worksheets to submit

	FTP
Enhanced Course Fee Subsidy and IBF Credit (Submission by FTP)	For programmes that commence between 8 April 2020 and 31 December 2020: Claims Worksheet A - Enhanced Course Fee (Coy-Sponsored) Claims Worksheet B - Enhanced Course Fee (Self-Sponsored)
Training Allowance Grant Claims Worksheet	Claims Worksheet C - TAG