What is the Procedure to
claim shares from IEPF
Claiming shares from the Investor Education and Protection Fund (IEPF) in
India involves a specific process outlined by the Ministry of Corporate Affairs
(MCA). Here is a step-by-step procedure to claim shares from the IEPF:
1. Eligibility Check:
Ensure that you meet the eligibility criteria for claiming shares from the IEPF.
Typically, shares are transferred to the IEPF when dividends remain
unclaimed for seven consecutive years.
2. Gather Necessary Documents:
Collect all relevant documents related to your shares, including share
certificates, proof of entitlement, identity proof, address proof, and any other
documents required.
3. Visit the IEPF Website:
Go to the official IEPF website (www.iepf.gov.in) to access the online portal.
4. Create an Investor Account:
If you don't have an existing investor account on the IEPF portal, create one
by providing the required details for registration.
5. Check the List of
Unclaimed Shares:
Navigate to the "List of Unclaimed Shares" section on the IEPF portal to check
if your shares are listed.
6. Fill Out the Claim Form:
Download the specified e-Form (Form IEPF-5) for claiming shares from the
portal. Fill out the form with accurate details, including your personal
information, details of the shares, and other required information.
7. Attach Supporting Documents:
Attach the necessary documents, such as share certificates, proof of
entitlement, identity proof, address proof, and any other documents specified
in the form.
8. Payment of Fee:
Pay the requisite fee for filing the e-Form, as per the guidelines provided on
the IEPF portal. The fee amount varies based on the claimed shares.
9. Verification Process:
The IEPF authorities will verify the details provided in the claim form and
supporting documents. This may involve coordination with the concerned
company.
10. Claim Approval:
Once the verification process is complete, and if everything is in order, the
IEPF authorities will approve the claim.
11. Transfer of Shares:
The approved shares will be transferred to your demat account mentioned in
the e-Form. Ensure that you have an active demat account for the transfer.
12. Communication from IEPF:
You will receive communication from the IEPF regarding the status of your
claim. Keep track of any updates or requests for additional information.
Important Points to Note: The process and requirements may change, so it's
essential to refer to the specific guidelines and instructions provided by the
IEPF.
Timely submission of the claim and accurate documentation is crucial.
Stay updated on any changes in rules and regulations related to IEPF claims.
As the process may involve legal and financial considerations, it's advisable to
seek professional advice or consult with a financial expert when claiming
shares from the IEPF.