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The Complete Procedure to get back shares from IEPF

Rahul Sharma by Rahul Sharma
5 years ago
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Do you know that you can claim your shares, unclaimed or unpaid amount to the IEPF authority? Read on to know the complete procedure to get back shares from IEPF.

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The IEPF or Investor Education and Protection Funds have been created for the promotion of the investor’s awareness and protection of the interests of investors in India. It aims to educate the investors about their rights as an investor, and empower them with updated information and knowledge about rules and regulations of investing. It gets funded by any debentures, matured company deposits, refunded application money, unclaimed dividends together with their interests, which have not been claimed by anyone within a period of seven years.

However, the Rule 7 of Investor Education and Protection Fund Authority Rules, 2016 suggests that any person whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares etc., that has been transferred to the fund, may claim the shares through a simple and quick application process. Below, we enlist the complete procedure for the same.

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The Process of Claiming IEPF Refund

  1. Visit http://www.iepf.gov.in/
  2. Download the IEPF-5 form from the website.
  3. Read the instructions carefully for filling the form.
  4. Fill in the required fields with updated and correct data.
  5. Once the form is filled, save it on your computer.
  6. Upload the same on the official Ministry of Corporate Affairs website portal.
  7. Once uploaded, an acknowledgement receipt will be generated with the SRN number.
  8. Save the receipt copy on your computer.
  9. Note down the SRN for tracking the form in future.
  10. Take a print out of the duly filled IEPF-5 form and the acknowledgment receipt generated after the upload.
  11. Prepare the following documents-
  • Acknowledgement copy
  • Filled IEPF-5 Form
  • Indemnity Bond*
  • Advance Stamped Receipt*
  • Aadhar Copy
  • Cancelled Cheque
  • Original Certificates
  • Proof of entitlement
  • Copy of Passport, OCI and PIO in case of foreigners and NRI

*Note- Indemnity Bond will be required on a non-judicial stamp paper if the claim amount for IEPF refund exceeds Rs. 10,000. However, if it doesn’t exceed Rs. 10,000, then indemnity bond can be taken on a plan paper. (Read the instruction kit available on the website for format and stamp duty). An advanced stamp receipt must carry signature of claimant and two witnesses.

12. The company shall now send a verification report to the IEPF Authority within 15 days of receipt of claim form.

13. Once the verification is done-

  • The Drawing and Disbursement Officer will raise a bill to the Pay and Accounts office for carrying the e-payments.
  • The IEPF Authority will sanction the refund order with the approval of the Competent Authority to credit the shares to the demat account of the claimant.

14. The complete process is generally completed within 60 days of receiving the verification report from the company. However, If there is any further delay, the claimant will be communicated in writing or by other means.

15. If there is an error or issues with details filled in the application form, the claimant will be communicated with details on the same.

 

Checkout Here how to Fill an IEPF Form 5 online 

Tags: IEPF
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Rahul Sharma

Rahul Sharma

Rahul Sharma is the author of Get News 360 & Dazzling Point - THE DESTINATION FOR FASHION'S LOVER. Rahul has been working in the Digital marketing industry for over 5 years from website audit, link and content development, social media and search engine optimization. Connect with Rahul on Google+, Twitter, and Facebook. 

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