How to Caim IEPF Refund?

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 amounts that they may get back. You need to fill up certain details like investor name, husband or father name, folio number, etc. The search can be a cumbersome task for which you need to have some patience. 

Process to get the refund

• Visit IEPF official website. Fill up the details in IEPF Form 5. Use option form upload for which you would get directed to the MCA (Corporate Affair ministry).

• Login with your unique ID and password or create a new one. Then click normal upload. 

• Click Browse & attach form and submit. 

• There will be generated SRN. You will be provided with a payment option (Now or Later).

• Click Pay Now option for generating acknowledgement (No fee is charged). Once zero fee page gets displayed, click on Finish to generate acknowledgement. 

Procedure to follow once you apply for Refund

To initiate claim verification, you are to send prescribed below attachments to the IEPF Nodal Officer. It is to be sent in an envelopment that should be marked as ‘iepf refund status and claim from IEPF authority’.

• Take a print out of filled and submitted IEPF 5 form with claimant signature. 

• Generated acknowledgement copy.

• Original Indemnity Bond with claimant signature to be executed:

. Non-judicial stamp paper under Stamp Act as per prescribed value if claim amount is over Rs. 10,000. Enter Claimant and witness signature, place and date. 

o On plain paper in case claimed amount is less then Rs. 10,000.

o Non-judicial stamp paper for share refunds. 

• Original advance stamped receipt with claimant along with two witness signature. 

• For refund of matured bonds, debenture or deposit or for claimed original share certificate. 

• Proof of Entitlement.

• Claimant’s Aadhaar Card copy.

• Leaf of original cancelled cheque having claimant’s name.

• Self-attested copy of PIO and OCI card, Passport of NRI and foreigners.

• Self-attested Demat Account Client Master List of claimant. 

• PAN Card self-attested copy. 

• Death certificate copy of deceased joint holder, if any.

• Other optional documents. 

When to receive the claim?  

IEPF will send the concerned authority a verification report in the specified format within 15 days from the date of receiving your claim. It will be accompanied by all submitted documents. Nodal officer might reject or approve the Form and submitted enclosures, subject to verification.

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