How to claim money from Investor Education Provident Fund (IEPF) By CS Priya Dua

How to claim money when dividend amount is transferred to Investor Education and Protection Fund.

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., has been transferred to the Fund, may claim the shares under proviso to sub-section (6) of section 124 or apply for refund under clause (a) of sub-section (3) of section 125 or under proviso to sub-section (3) of section 125, as the case may be.

Process of Claiming:

Step-1: Make an application to the Authority by submitting an online application in Form IEPF-5 available on the website along with fee specified by the Authority from time to time in consultation with the Central Government.

Step-2: After the online filing of form the person shall send the following documents to the Nodal Officer of the Company at its registered office in an envelope marked “claim for refund form IEPF Authority” for initiating the verification for the claim.

(i) Print out of duly filled claim form with claimant signature.
(ii) Copy of acknowledgment.
(iii) Indemnity Bond (original) with claimant signature.
(iv) Advance Stamped receipt (original).
(v) In case of refund of matured deposit or debenture, original certificate thereto.
(vi) Copy of Aadhaar Card.
(vii) Proof of entitlement (certificate of share/Interest warrant Application No. etc.).
(viii) Canceled Cheque IEPF.
(ix) Copy of Passport, OCI and PI card in case of foreigners and NRI.
(x) Other optional documents, (if any).

(i) The company shall, within fifteen days from the date of receipt of the claim, send a verification report to the Authority in the format specified by the Authority along with all the documents submitted by the claimant.

(ii) Provided that in case of non receipt of documents by the Authority after the expiry of ninety days from the date of filing of Form IEPF-5, the Authority may reject Form IEPF-5, after giving an opportunity to the claimant to furnish response within a period of thirty days (Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 dated 13.10.2017.)
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