We receive many calls daily through our website ShareTransferZone.com, in which people ask questions about how to get IEPF claim for the shares those were transferred to IEPF. Many people even come to us when they have completed the IEPF Claim Form but still are unable to claim for some or other reason.
Section 124 (5) of the Companies Act, 2013 states that if the dividend remains unclaimed/unpaid for 7 years, it is transferred to IEPF.
The purpose of forming such IEPF authority is to save the interest of common investors who sometimes due to name change/address change would not able to get his/her dues from the company. The authority keeps these shares in their Demat account until someone comes and claim it. The company before transferring the shares to the IEPF authority must contact all the investors by email/phone so that they can come and claim their due. However, even after sending such correspondence if nobody turns up the shares/dividend get transferred to IEPF Claim authority.
So let us know how IEPF claim gets settled with the IEPF Authority?
To get IEPF Claim, you must first have a Demat account. If you do not have it, then, first of all, open a Demat account because IEPF claim is directly transferred to the Demat account only.
1. Download the Form-5 form from the IEPF website and fill in the details that have been asked and submit them online. Please fill all the required information carefully.
2. When you submit the form online, you will get an acknowledgment which you can save for future references.
3. Take a printout of the form-5 and acknowledgment.
4. Then this print out along with all the requisite different documents which are required on case to case basis must be arranged and are required to be sent to Nodal Officer for further processing.
5. The Nodal Officer after receiving the form completed in all aspect and after getting verification report from the company, a refund will be released by the IEPF authority.
We at ShareTransferZone have a specialized team to handle such IEPF claims of investors without any hassle. We charge very nominal consultancy fees depending upon the complexity of the cases. Anyone can approach ShareTransferZone 24/7 by dropping a query on our website and our executive will approach you for further processing.We are present around the country so we can cater the cases to any part of the country.
If your IEPF claim is not yet settled, they feel free to contact us and we’ll help you in getting your claim settled.