IEPF Share Transfer: How To Claim Transferred Share




When all shares of any company or shareholder remain unclaimed and not encashed for the long seven consecutive years or more, that company has to transfer those properties to the Investor Education and Protection Fund or IEPF. The government of India established the organization of IEPF.

We will discuss the procedure for claiming any transferred shares in this blog. If you are interested in the share market or are a businessman, you may find this blog useful. Let's discuss!

 

●       Procedure Of The Shareholders or Claimant

Some steps need to be followed by the claimant for an IEPF refund. Those steps are:

  1. Step 1: You must open a Demat Account with NSD/CDSL. When IEPF releases your shares, they will release them in your Demat Account.
  2. Step 2: Go to the official website of IEPF and download the IEPF-5 form.
  3. Step 3: Fill out the entire form carefully and submit it as per the instruction on the website.
  4. Step 4: If you successfully upload your form to MCA Portal, you will receive an acknowledgment copy where your SRN will be mentioned. Note that SRN can be important in the future for tracking the form.
  5. Step 5: You need to send the attachments to the Nodal Officer. The envelope was marked with "claim for a refund from IEPF."

●       Required Document Submission To Nodal Officer

The attachment you have to send to the Nodal Officer contains a few vital documents.

  1. A printout of a carefully filled claimed form with your means the claimant's signature.
  2. A copy or printout of acknowledgment paper
  3. Original copy of indemnity bond with claimant's signature. If your claimed amount is more than ten thousand, this copy will be a non-judicial stamp paper under the Stamp Act. If your claimed amount is less than ten thousand, you can prepare this document on plain paper.
  4. An advanced stamp receipt with your signature means the claimant and your two witnesses.
  5. A self-attested of your PAN Card and Aadhaar Card (It is for Indians)
  6. Proof of entitlement. It can be the certificate of share or the application regarding an interstate warrant
  7. A canceled cheque
  8. A copy of your passport, OCI, and PIO card if you are a foreigner or NRI
  9. The list of latest clients and an original share certificate
  10. A transaction statement that shows the IEPF share transfer and an RTA letter with a piece of information that you are entitled to such shares must be submitted to the IEPF.

●       Practical Aspects Of Procedure

There are some practical aspects of this entire procedure. If you are a claimant, you will ask for the details of your dividend and shares from the company. The company will provide the information to you, and you need to file the requisite form. RTA companies can prepare a verification report after receiving a copy of the filled form. There are many more aspects to the procedure, and therefore, please make sure to get professional help.

The Final Thought

The procedure of claiming an IEPF refund is a long and tricky one. Therefore, do not hesitate to ask for professional assistance if necessary. Although, we sincerely hope you can get a rough idea of this blog.

Location: South Extension, South Extension II, New Delhi, Delhi 110049, India

Comments

Post a Comment

Popular posts from this blog

A Comprehensive Breakdown of the Steps Needed To File an IEPF Refund Successfully

Image
  According to IEPF Rules, any individual whose unclaimed or underpaid money and shares have been assigned by the Business to IEPF may file an IEPF refund promptly from the IEPF Authority by submitting an online application in form IEPF.   Unclaimed Shares are Transferred to the IEPF. A company must transfer shares to the IEPF, together with any accumulated interest, if the dividends are still not collected or received for more than 7 years. The company must notify the IEPF Authority of any such transfer. A shareholder can reclaim outstanding shares transferred to the IEPF by applying to the IEPF Authority, which keeps track of all accounts.   IEPF Form The statement of monies moved or refunded to the Investor Education and Protection Fund (IFPF) in a certain period is called Form IEPF. Any payment that a corporation has to deposit to the IEPF must be submitted electronically together with Form No.IEPF-1, according to IEPF guidelines. The money must be transferred using fo
Read more

How to Caim IEPF Refund?

Image
The fact is that many people tend to lose their money, shares or dividends to frauds or scams. You may wonder what happens to such unclaimed dividends! Perhaps, your parents or grandparents has invested some amount something you are not wary about. In such a case how will you find and claim the same! This blog can guide you to move in the right direction and claim what is rightfully yours.  IEPF It stands for Investor Education Protection Fund Authority that is under the control of the Corporate Affairs Ministry, Government of India. The government has established this body, where al unclaimed amount is transferred. Following a certain procedure allows investors to claim back their amount. But the question is how do you know if you have some amount and claim it the legal way? How should you search for unpaid, unclaimed amounts? The first step to take to derive iepf refund is to identify if you have any unclaimed amount or not. IEPF provides a facility that allows investors to identify
Read more

Some basic information on unclaimed dividend transfer to IEPF

Image
  There are many people out there who need to reclaim any shares, dividends, debentures, deposits, and mutual funds that never reach them. They have ended up losing or misplacing their documents and certificates or they might have completely forgotten about them. In this case, a question might arise on how to find any unclaimed dividend. It can be a difficult task to regain these types of benefits since most of us do not have adequate knowledge of the procedure that has to be performed. What exactly is IEPF? IEPF (Investor Education and Protection Fund) is meant to promote the investors’ interests in the country. Any dividend which is unclaimed or unpaid for 7 years from the transfer date to a special account will be transferred to IEPF along with interest. Which amount is transferred to IEPF? Unclaimed dividend transfer to IEPF  consists of the following: • The amount in the companies’ unpaid dividend account which remains unclaimed or unpaid for 7 years • Matured deposits with organi
Read more