Claim the Matured Investment Amount before the Unclaimed Dividend Transfer to IEPF

 Have you ever forgotten where you have invested, and when is the maturity date? Individuals, as well as companies, sometimes forget about their investments in different bank accounts. The situation leads to unclaimed amounts at different banks; and other financial organizations. For clearing the clutter, the bank sent these unclaimed amounts into a separate bank account. The liable person can claim for the same dividend within the coming 7 years. But after that, you cannot claim straight from the bank according to the policy of the Ministry of Corporate Affairs; the unclaimed dividend transfer to IEPF. 

Significance of IEPF

IEPF or Investor Education and Protection Fund is created by the Ministry of Corporate Affairs to make people aware of their investments in some scheme at a bank or other financial organizations. If the person has lost the paper or has changed location, or is not alive anymore, the banks wait for 7 years and transfer the amount to this authority. You can still claim for the invested amount from IEPF. You just need to fill up the IEPF-5 form and submit it with other requisite documents that will prove that you are the person who had invested or you are his/her legal heir. You can get help from professional agencies in getting your unpaid amount. 

Why do you need a professional agency for getting your unpaid or unclaimed amount?

When the unclaimed or unpaid amount gets transferred to IEPF, it reaches the Government in a way. Getting the money back from there is a time-consuming and complicated process. You need professional chartered accountants who can handle the situation strategically with their knowledge. From unpaid dividends to IEPF Claim, these professional experts work in every possible field to help the clients get their money back. Any investor may face numerous problems before getting the amount back, and this includes various expertise fields where these Chartered accountants and agencies help you win the battle. 

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