Essential information on how to claim IEPF refund


 


Perhaps it has come to your mind regarding what will be the fate of those unclaimed shares, dividends, or any cash which you have lost in frauds or scams. Maybe your parents or grandparents have already made some investments regarding which you are not mindful. How would it be possible for you to reclaim it after finding it out?

The answer to this question will be the Investor Education Protection Fund Authority which has been established by the Indian government. All the unclaimed cash will become transferred to this body, and it is possible for the investors to claim an unclaimed dividend transfer to IEPF by following a particular process.

What is transferred to IEPF?

Something that has not been claimed for as many as seven years will be transferred to the IEPF, and below, we have provided some examples.

•             The application money that the companies receive for allotting any securities.

•             Unclaimed shares that have been lying for many years in Demat accounts.

•             Matured bank deposits.

•             Dividends that are not paid by companies.

•             Any investor's cash that has been recovered from fake companies.

•             Matured debentures with companies.

If the shareholder has claimed or received the dividend for any particular year during the previous seven successive years, there will be no possibility for the shares to be transferred to IEPF whatsoever.

To get an IEPF refund, one has to find out whether there is any unclaimed amount for his parents, grandparents, or himself at first. The IEPF provides a facility that will allow an investor to comprehend which particular amounts they will be able to get back.

It will be possible for the investor to search for their unpaid and unclaimed amount by filling in some particular details like the name of the father or husband, the name of the investor, folio number, and so on. It is vital to bear in mind that this process of searching can be somewhat complicated in the long run. Therefore, you need to have patience while trying all sorts of combinations.

How to get an IEPF refund?

1. After visiting the official website of IEPF, make sure to fill in the IEPF Form 5. Make use of the Form Upload option. This will direct you to the MCA or Ministry of Corporate Affairs.

2. Make use of your password and ID for logging in (if existing; otherwise, you have to register on your own by entering the necessary details after clicking on Register).

3. Click the option Normal Upload after logging in.

4. Attach the form after clicking on Browse. Following this, you need to click Submit.

5. This will generate SRN, and you have to choose a payment option (Pay Later or Pay Now).

6. You need to click Pay Now, although the fee will be zero in this case. This will be done only to generate the response.

7. Next, you need to click Pay Now, and following this, the option Finish has to be clicked once the zero-fee page comes in front of you. This will make you sure that the acknowledgment has been generated.

Location: New Delhi, Delhi, India

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