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

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