Undoped In0.53Ga0.47As epilayers were implanted with 2- MeV Fe+ ions at doses of 1x10(15) and 1x10(16) cm(-2) at room temperature and annealed at temperatures between 500 and 800 degreesC. Hall-effect measurements show that after annealing, layers with resistivities on the order of 10(5) Omega/square can be achieved. Carrier lifetimes as short as 300 fs are observed for samples annealed at 500 and 600 degreesC. For higher annealing temperatures, characteristic times of the optical response are on the order of a few picoseconds.