IEPF CLAIM
When do the shares & dividends get transferred to IEPF?
When a company’s declared dividends remain unclaimed for seven consecutive years or more, both the dividends and related shares are moved to the IEPF. In cases where shares are in a demat account, unclaimed dividends are not retrieved due to the associated bank accounts being inactive or idle.
What is IEPF?
The Government of India established the Investor Education and Protection Fund (IEPF) to raise investor knowledge and safeguard their interests. Established under the Companies Act of 2013, this fund was created by the Ministry of Corporate Affairs with the intention of protecting investors’ interests. Refunds of shares, unclaimed dividends, deposits, and other items that have been transferred to IEPF are required by the IEPF Authority.
What is the process to claim shares from IEPF?
Applicants seeking eligibility for shares from IEPF must fulfill the prerequisite of filling out Form IEPF-5 on the official website www.iepf.gov.in. Subsequently, a physical copy of the form, accompanied by the requisite supporting documentation, needs to be lodged with the company’s Nodal Officer at the registered office for authentication.
The Nodal Officer undertakes a thorough examination of the claim, conducts electronic verification, and then forwards it to IEPFA for further review. Upon successful validation of all documents, IEPFA authorizes the claim, facilitating the transfer of shares to the claimant’s Demat account.
What documents are required to be submitted with Form IEPF-5?
- A copy of the acknowledgement generated as a result of the online submission of e-Form IEPF – 5 with a unique serial number (SRN).
- Original Indemnity Bond with Claimant Signature.
- Original matured deposit/debenture/share certificate (in the case of physical securities) or a copy of the transaction statement (in the case of Demat securities).
- Aadhaar Card self-attested copy
- Proof of entitlement (share certificate, interest warrant Application No., Entitlement letter etc.)
- Cheque leaf cancelled
- For foreigners and NRIs, a copy of their passport, OCI, and PIO card is required.
Reasons behind
Unclaimed Dividends?
