5 Common Reasons Your Shares Transferred To IEPF 

Since 2017, I have interacted with so many aggrieved investors and found that the most common 5 reasons shares and dividends get transferred  to IEPF are as follows: 

1. You relocated/shifted from the share purchase address but never thought of updating the companies. It is very common. Do not worry.

2. You are living at the same address (share purchase address) BUT you never paid attention to the dividend cheques you received. 

3. You received dividend cheques but never encashed them nor deposited them in a bank and kept them in your almirah (they are still lying there, untouched!). 

4. You bought shares but forgot your signature hence you are not able to dematerialize your physical shares. 

5. You never knew that your deceased father or grandfather purchased some shares way back in the 90s.

You can submit your IEPF related query here and wait for a callback or email response. If you are in a hurry just WhatsApp at 09818377156 or 09999813374 for a quick response. Nowadays, only Covid related issues can delay the response else these numbers respond well in time.

If your or your family members' shares have been transferred to a government fund called IEPF (Investor education Protection Fund) then you should know the following:

Procedure To Claim Refund

source: copy-pasted from government website www.iepf.gov.in

1. Download the form IEPF-5 from the website of IEPF (http://www.iepf.gov.in) for filing the claim for refund. Read the instructions provided on the website/instruction kit along with the e-form carefully before filling the form.

2. After filling the form save it on your computer and submit the duly filled form by following the instructions given in the upload link on the website. On successful uploading, an acknowledgment will be generated indicating the SRN. Please note the SRN for future tracking of the form.

3. Take a printout of the duly filled IEPF-5 and the acknowledgment issued after uploading the form.

4. Submit indemnity bond in an original, copy of acknowledgment and self-attested copy of e-form along with the other documents as mentioned in the Form IEPF-5 to Nodal Officer (IEPF) of the company at its registered office in an envelope marked "Claim for a refund from IEPF Authority".

5. Claim forms completed in all aspects will be verified by the concerned company and on the basis of the company's verification report, a refund will be released by the IEPF Authority in favor of claimants' Aadhaar linked bank account through electronic transfer.

Corrections One Can Make For Future

What is done cannot be reversed. But you can make corrections going forward. 

1. Inform your spouse and closest (trustworthy) family member about the investments you have made or at least some details which they can refer to in case of any contingency. For example, tell them you have claimed all your PF so no need to run here and there for claiming it. Another example could be that you have given a loan to a friend of X amount.  

2. Go through all the documents, files at home, diwan, almirah, and search for old investment papers. Contact the companies to check if the numbers you have are right, working, or changed. Call and ask about the state of affairs as to when are the due dates of maturity etc? 

3. Update your numbers, email IDs in various companies where you have invested be it insurance, shares, mutual funds, provident fund, banks, etc.

4. Update the signature of your parents, grandparents. Update your kid's signature if the company records where you have purchased shares in your kids' names when they were minor.

5.  Ask your Chartered Accountant about what investments he has made. What kind of deductions are declared in your income tax return.

~ Sneha Kaur   

#iepfclaim #iepf #iepf5  #form5 #unpaid #dividends #unclaimedinvestment 

How to fill IEPF Form 5

Form 5 process 

Investor Education Protection Fund

Why my shares have transferred to IEPF?

How can I claim back my shares from IEPF?