diff --git a/CHANGELOG.md b/CHANGELOG.md
index a837a7e1b..3155dbbb0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -11,7 +11,8 @@ See [Conventional Commits](https://conventionalcommits.org) for commit guideline
 
 ### Features
 
-* bump snapshot version to 4.12.1 [#2058](https://github.com/web3j/web3j/pull/2058)
+* bump snapshot version to 4.12.1 [#2058](https://github.com/hyperledger/web3j/pull/2058)
+* Update maintainer requirements status [#2064](https://github.com/hyperledger/web3j/pull/2064)
 
 ### BREAKING CHANGES
 
diff --git a/MAINTAINERS.md b/MAINTAINERS.md
index c64310bc1..5c6b3ad32 100644
--- a/MAINTAINERS.md
+++ b/MAINTAINERS.md
@@ -1,16 +1,17 @@
 Maintainers
 ===========
+<!-- Please keep all lists sorted alphabetically by github -->
 
 **Active Maintainers**
 
-| Name           | GitHub | Chat |
-|----------------|--------|-----|
-| Conor Svensson | [conor10][conor10] | conor10 |
-| Andrii | [andrii-kl][andrii-kl] | andrii-kl |
-| George Ţebrean | [gtebrean][gtebrean] | gdev#2230 |
-| Nischal Sharma | [NickSneo][NickSneo] | nicks1106 |
-
+<!-- web3j-maintainers group has maintainer access to web3j repo -->
 
+| Name           | Github                 | LFID      |
+|----------------|------------------------|-----------|
+| Andrii Kliui   | [andrii-kl][andrii-kl] |           |
+| Conor Svensson | [conor10][conor10]     | conor     |
+| George Ţebrean | [gtebrean][gtebrean]   | gtebrean  |
+| Nischal Sharma | [NickSneo][NickSneo]   | nicks1106 |
 
 [conor10]: https://github.com/conor10
 [gtebrean]: https://github.com/gtebrean
@@ -21,8 +22,95 @@ Maintainers
 
 **Emeritus Maintainers**
 
-| Name | GitHub           | Chat |
-|------|------------------|------|
-|Christian Felde | [cfelde][cfelde] | cfelde |
+| Name            | Github              | LFID    |
+|-----------------|---------------------|---------|
+| Christian Felde | [cfelde][cfelde]    |  cfelde |
 
 [cfelde]: https://github.com/cfelde
+
+## Becoming a Maintainer
+
+Web3J welcomes community contribution.
+Each community member may progress to become a maintainer.
+
+How to become a maintainer:
+
+- Contribute significantly to the code in web3j repositories.
+
+### Maintainers contribution requirement
+
+The requirement to be able to be proposed as a maintainer is:
+
+- 5 significant changes on code have been authored in this repos by the proposed maintainer and accepted (merged PRs).
+
+### Maintainers approval process
+
+The following steps must occur for a contributor to be "upgraded" as a maintainer:
+
+- The proposed maintainer has the sponsorship of at least one other maintainer.
+    - This sponsoring maintainer will create a proposal PR modifying the list of
+      maintainers. (see [proposal PR template](#proposal-pr-template).)
+    - The proposed maintainer accepts the nomination and expresses a willingness
+      to be a long-term (more than 6 month) committer by adding a comment in the proposal PR.
+    - The PR will be communicated in all appropriate communication channels
+      including at least [web3j-contributors channel on Hyperledger Discord](https://discord.gg/hyperledger),
+      the [mailing list](https://lists.hyperledger.org/g/web3j)
+      and any maintainer/community call.
+- Approval by at least 2 current maintainers within two weeks of the proposal or
+  an absolute majority (half the total + 1) of current maintainers.
+    - Maintainers will vote by approving the proposal PR.
+- No veto raised by another maintainer within the voting timeframe.
+    - All vetoes must be accompanied by a public explanation as a comment in the
+      proposal PR.
+    - A veto can be retracted, in that case the voting timeframe is reset and all approvals are removed.
+    - It is bad form to veto, retract, and veto again.
+
+The proposed maintainer becomes a maintainer either:
+
+- when two weeks have passed without veto since the third approval of the proposal PR,
+- or an absolute majority of maintainers approved the proposal PR.
+
+In either case, no maintainer raised and stood by a veto.
+
+## Removing Maintainers
+
+Being a maintainer is not a status symbol or a title to be maintained indefinitely.
+
+It will occasionally be necessary and appropriate to move a maintainer to emeritus status.
+
+This can occur in the following situations:
+
+- Resignation of a maintainer.
+- Violation of the Code of Conduct warranting removal.
+- Inactivity.
+    - A general measure of inactivity will be no commits or code review comments
+      for two reporting quarters, although this will not be strictly enforced if
+      the maintainer expresses a reasonable intent to continue contributing.
+    - Reasonable exceptions to inactivity will be granted for known long term
+      leave such as parental leave and medical leave.
+- Other unspecified circumstances.
+
+As for adding a maintainer, the record and governance process for moving a
+maintainer to emeritus status is recorded using review approval in the PR making that change.
+
+Returning to active status from emeritus status uses the same steps as adding a
+new maintainer.
+
+Note that the emeritus maintainer always already has the required significant contributions.
+There is no contribution prescription delay.
+
+## Proposal PR template
+
+```markdown
+I propose to add [maintainer github handle] as a Web3J project maintainer.
+
+[maintainer github handle] contributed with many high quality commits:
+
+- [list significant achievements]
+
+Here are [their past contributions on Web3J project](https://github.com/hyperledger/web3j/commits?author=[user github handle]).
+
+Voting ends two weeks from today.
+
+For more information on this process see the Becoming a Maintainer section in the MAINTAINERS.md file.
+```
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