How to claim shares from IEPF

1. How to claim shares from IEPF? MCA has set the Investor Education and Protection Fund Authority Rules 2017, which states that any money as dividend not claimed by the investor within 7 years and 37 days from the declaration date of the dividend along with the interest accumulated will be transferred by the company to the Investor education and protection fund. This means that all shares for which dividend has not been claimed or paid for seven years or more shall be transferred. The process to claim these shares from IEPF claim authority to your demat account involves following due procedure and submitting documents required. Common mistakes to avoid include not filling out the claim form in a financial year, not filing the claim with authority, and not applying directly to IEPF claim authority. The claimant has to apply to MCA through e-form IEPF-5 by furnishing details such as details of the applicant, details of the company, particulars of the shares to be claimed, details of deposits or securities year wise, Aadhaar details or Passport or OCI or PIO Card No. If the applicant is NRI or foreigner, the account should be linked to Aadhaar. Documents required to be attached with the form include an acknowledgement copy, original indemnity bond, original advance stamped receipt, original certificate of deposit or debenture, proof of entitlement, cancelled cheque, and verification report to the authority. The authority must receive the documents 90 days after the filing of form IEPF-5 and may reject the form if it does not. If the claimant has claimed the shares, the authority will issue a sanction order for refund and credit the shares lying in suspense account with the lying depository participant. If there are physical certificates, the duplicate certificates are cancelled and share recovery on the name of claimant. An application must be prepared within 60 days of receipt of the verification report. If the application is incomplete or rejected, the authority should communicate with the claimant and related company. GLC wealth advisors help us out with every matter of IEPF related. We are India’s leading and most trusted Wealth Recovery Firm. IEPF Claim