How Can One Claim Unclaimed Dividends & Shares Transferred to IEPF

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As per Rule 7 (1) of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, the unclaimed dividends that have been transferred to the IEPF can be claimed by submitting the IEPF-5 Form.

Step 1: Visit the IEPF website

Visit the iepf.gov.in website. On the homepage. Click on the ‘Claim Refund’ tab under the “Services” section. In the ‘Claim Refund’ tab, click on the ‘Upload eForms’ link on the left side of the page.

Step 2: Log in to the MCA Portal

You will be redirected to the MCA Portal, where you will need to log in. After logging in, you need to click on ‘MCA Services,’ followed by ‘IEPF-5.’

Step 3: Fill out the online form

Fill out the refund claim form online on the IEPF website by providing all the required details like name, PAN number etc.

Step 4: Attach the Required Documents

Attach all the required documents, such as your PAN card and cancelled cheque, along with any other documents that establish your entitlement to the investment in the company.

Step 5: Submit the Form

After filling out the form and attaching the documents, you need to submit it to the IEPF Authority. Once submitted, an SRN acknowledgement will be generated, which can be used to track the status of your claim.

Step 6: Share physical documents with the Nodal Officer

The submitted form needs to be printed and sent, along with all supporting documents, duly signed, to the Nodal Officer of the Company.

Step 7: Verification Report is filed by the Company

The Nodal Officer of the company will verify the physical documents after they are received and  an online E-Verification Report will be sent along with the Approval to the IEPF Authority.

Step 8: IEPF Authority Approval

The claim will be verified by the IEPF Authority, and they may request additional documents or information if necessary. The verification process takes some time, and you may need to follow up with the authority for updates. After the verification, the IEPF Authority will send an approval email to your registered email ID.

Step 9: Initiation of Refund and Transfer of Money

The IEPF Authority will initiate the refund process if your claim is verified and approved, and the amount will be credited to your bank account. The shares will be transferred to your Demat Account.

Despite multiple efforts from the authorities concerned, the refund rate remains extremely low at 1.8%. The primary reason for this low refund rate is the shareholders’ lack of awareness. Therefore, we need to step up and help those around us become more aware of the channels and methods available for them to claim what rightfully belongs to them. We know that dividends can be accumulated over a period of time for long-term investors and hence this amount could be much higher for a few individuals than they would think. Hence, it is of utmost importance that investors should ensure that claims are made for the dividends on time which they are rightfully owed.

CONTACT KINHERITANCE TO DISCOVER & RECOVER YOUR UNCLAIMED WEALTH. 

Write to us at care@kinheritance.com or call us at +91- 962 567 9090 

Posted On: 2024-04-15