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Claims Submissions by Financial Training Providers

For Training Programme Documents to submit Additional Information to Note Additional Information to Note

Claims submission for training programmes

All IBF accredited providers offering IBF Standards Training Scheme (IBF-STS) or Financial Training Scheme (FTS) courses are required to adopt a nett fee model, unless otherwise approved by IBF to charge full fees for cases such as offering of assessment-only courses or not being able to obtain personal details of company sponsored individuals, such as the full name, NRIC number, email address, and citizenship or PR status of a trainee to verify his/her eligibility for funding.

	In-house programmes/ External programme where full fee is charged
Programme Commencement Date Disbursement	Between 8 April 2020 to 30 June 2022 (Enhanced course fee subsidy and Training Allowance Grant)	From 1 July 2022
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 the end of the month of the course completion date2
Disbursement	Nett Fee Model - GIRO# to FTP's corporate bank account Full Fee Model2 – Trainees' NRIC Linked PayNow Bank Accounts1

Updated on 31 March 2022
# Duly completed Direct Credit Authorisation (DCA) forms are required to be submitted to IBF.
¹Please ensure that your trainees have linked their NRIC to their PayNow bank account to facilitate disbursement by IBF.
²Only applicable to self-sponsored individuals for IBF-STS. In cases where a training provider charges full course fee to certain trainees sponsored by FIs or Fintech firms, the training provider should exclude such trainees from its claims submission and should issue relevant documents such as the invoices and certificates of completion in a timely manner to facilitate the claim submission by the sponsoring companies.

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 records3 signed 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

1 Exchange rate should be the daily MAS FX rate as at the date of the invoice.
2 Personal particulars include full names, last four (4) alphanumeric characters of NRIC numbers, mobile telephone numbers, e-mail addresses, and nationalities.
3 Attendance 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.
4 Full 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 All programme fees claimed can include Singapore GST. Company-sponsored claims All programme 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: a. Programme dates (programme start and end date) b. Trainees’ full names (as per registration forms) c. Programme name and code (as per IBF programme finder) d. Full course fee breakdown: 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) e. If programme is purchased as a package, all trainees’ names should be listed in the invoice f. Invoice number g. Invoice date h. Self-sponsored trainee’s names / FI’s company name and name of whom the invoice will be attention to.
Certificate of Completion (all programmes with assessment must be issued a copy of COC to each trainee)	Mandatory details to be reflected in supporting documents: a. Trainee’s full names (as per registration forms) b. Programme name and code (as per IBF programme finder) c. Programme dates (programme start and end date to either include in COC or attach programme schedule together with COC for submission) d. FTP’s logo e. FTP’s authorised signature on certificate f. Date of certificate issued

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