According to the recent law “any money as dividend can’t be claimed by investor within 7 year and 37 days from the date of its declaration of dividend, it shall be transferred by the company along with interest accrued, if there is any, thereon to Investor education and protection fund.
It must be known to you all that all shares in respect of which dividend has not been claimed for seven consecutive years or more shall be transferred by the company in the name of IEPF. In past 7-8 months, shares of many persons have been transferred in the name of IEPF.
Investor Education and Protection Fund (IEPF) Authority belongs to Ministry of Corporate Affairs of Government of India has issued a announcement recently that investors and depositors whose due dividends, were transferred to the IEPF can now claim refund of the amount transferred.
Now being a normal person, you might have an issue to get recover such shares from the IEPF in their name. Does not matter whether you are an investor or depositor this article is going to explains how an investors or depositors can file.
Steps and guidelines to be followed by investors or individual to file the claim
In order to claim for a refund as an individual these are the guidelines for investors to follow:
Download the form and read instructions carefully
You need to first download the IEPF-5. You can download it form from the official website of Investor Education and Protection Fund (IEPF) Authority. Please make sure that you are going through the instructions carefully that are provided along with this e-form before you fill up the form itself.
Fill the form as per instructions and save SRN
Once you are done with filling up all the details on the form, you can download and save it on your computer. After that submit the finished form as per the instructions provided via the upload link at the IEPF website.
Afterwards, if you are successful in uploading the form online, you can see an acknowledgement appeared on the screen which indicates the Serial number; SRN. You must have to note down this SRN in your smart device memory or somewhere else safely for all future requirements, as well as for tracking of the form.
Take print out of filled form and acknowledge
After doing this, you must take out a print out of the filled in IEPF-5 form as well as the acknowledgement or SRN which was produced after uploading the form.
Submit required documents
Now, the next step that you need to follow is to submit an indemnity bond in original along with some documents that are mentioned
(a) A copy of the acknowledgement,
(B) A self-attested copy of the e-form and
(c) All the other requisite documents as listed in the form IEPF-5 to the Nodal Officer (IEPF) of the company at its registered office.
Things to keep in mind
Keep in mind that these all should be submitted in an envelope marked “Claim for refund from IEPF Authority.”
Also, be careful as it is compulsory to submit the necessary documents to the company, as without these, the refund process cannot be initiated.
Get ready to be paid!
Once, you are done with all the necessary formalities, your claim form which is ended with all aspects will then be verified by the related company. When verification report gets approval of the company, the refund will be released by the IEPF Authority in the favour of the claimant’s Aadhaar-linked bank account through electronic transfer.