In the case investors who hold physical shares have not claimed dividend for seven consecutive years, the shares will be transferred to IEPF (Investor Education and Protection Fund) account. We bring to you four easy steps to claim refund in this case.
Even as SEBI continues to lay emphasis on getting investors to convert all their physical shareholdings into demat form in order to facilitate easy transfer and improving transparency of holdings, many investors may be wondering about how to get refund for unclaimed dividends from IEPF account. Notably, in the case investors who hold physical shares have not claimed dividend for seven consecutive years, the shares will be transferred to IEPF (Investor Education and Protection Fund) account. Investor Education and Protection Fund (IEPF) has been set up for the promotion of investors’ awareness and protection of the interests of investors. By following the below mentioned easy steps, the investors can reclaim their dividends from IEPF. We take a closer look.
- The investor will have to file e-form IEPF 5 available online on the website www.iepf.gov.in
- Take a print of the duly filled in form and submit copy along with requisite documents to the concerned company.
- Nodal officer of the company will verify the claim and furnish the report to the IEPF authority within 15 days.
- On the basis of verification report, refund will be released by the IEPF authority in favour of the claimant’s account through electronic transfer.
Notably, there is no fee involved in the filing of the IEPF 5 form. Further,the instruction kit is available on the www.iepf.gov.in website along with each form. IEPF has a word of caution–don’t get misled by agents or middlemen. Notably, the IEPF website is an information providing platform to promote awareness, and it does not offer any investment advice or evaluation.