How to claim refund on unpaid dividends and matured deposits through IEPF


Have you an unpaid dividend, deposit or debenture of any company? Now you can claim refund on these which were transferred to IEPF. This article explains how investors and depositors can file their claims as well as how companies can process such claims after due verification.

Investor Education and Protection Fund (IEPF) Authority, Ministry of Corporate Affairs, Government of India has issued a notification that investors and depositors whose unpaid dividends, matured deposits, debentures, etc were transferred to the IEPF can now claim refund of the amount transferred.

How investors can file the claim

In order to put in a claim for a refund, these are the guidelines for investors to follow:
  1. You have to first download the IEPF-5 form from the official website of Investor Education and Protection Fund (IEPF) Authority. Please ensure that you first go through the instructions carefully which is provided along with this e-form before you fill up the form itself.

  2. Once you fill up all the details on the form, download and save it on your computer. Then submit the completed form as per the instructions provided via the upload link at the IEPF website. Once you are successful in uploading the form online, you will see an acknowledgement generated which indicates the SRN. You need to note down this SRN for all future requirements, including tracking of the form.

  3. Now take a print out of the filled in IEPF-5 form as well as the acknowledgement which was issued after uploading the form.

  4. The next step is to submit an indemnity bond in original along with: (a) a copy of the acknowledgement, (b)a self-attested copy of the e-form and (c) all the other requisite documents as listed in the form IEPF-5 to the Nodal Officer (IEPF) of the company at its registered office. All these should be submitted in an envelope marked "Claim for refund from IEPF Authority."

  5. Important note: It is mandatory to submit the requisite documents to the company as without these, the refund process cannot be initiated.
  6. Your claim form which is completed in all aspects will then be verified by the concerned company. On the basis of its verification report, the refund will be released by the IEPF Authority in favour of the claimant's Aadhaar-linked Bank account through electronic transfer.




How companies can process the claim

In order to process the claim of an investor for a refund, these are the guidelines for a company to follow:
  1. A company which has remitted any amount to the Investor Education and Protection Fund (IEPF) should nominate a Nodal Officer. This Officer is the one who will deal with the claim and refund forms and will coordinate with the IEPF Authority.

  2. The company / Nodal Officer must process and verify a claim of an investor within 15 days of receipt of the claim form prior to sending the claim to the IEPF Authority. The proforma for the verification report is available at the IEPF website.

  3. The company must inform the IEPF Authority the name and designation of the Nodal Officer, along with the Officer's contact details and email ID within seven days from the date of publication at this email: ceo_iepfa@mca.gov.in

Contact information

Individuals and companies requiring any clarification or guidance can write to IEPF at:
Post Box No.768,
New Delhi – 110001
OR
Send an email to: ceo_iepfa@mca.gov.in
Website: http://www.iepf.gov.in./

[Reference: Print advt. in Hindustan Times, Mumbai edition, dated 28th February 2017, page 15.]


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Comments

Author: umesh22 Mar 2017 Member Level: Gold   Points : 1

This is a very useful article and I congratulate the author for providing such authentic information for the benefit of all concerned. Many people are there who have invested in various forms of investment and due to various reasons (bankruptcy of a company, misplaced dividend cheques etc) lose a track of that. All such persons will be immensely benefited by this article.



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