Procedure to claim Refund of unclaimed dividend transferred to IEPF

Procedure to claim Refund of unclaimed dividend transferred to IEPF

As per Section 124(5) read with Section 125(1) of Companies Act 2013
Any money transferred to the Unpaid Dividend Account of a company which remains unpaid or unclaimed for a period of seven years shall be transferred by the company to the Investor Education and Protection Fund Authority (IEPF).

Can that money be claimed again?
Yes, any person, whose unclaimed or unpaid amount has been transferred by the company to IEPF may claim their refunds to the IEPF authority.

For claiming such amount, claimant needs follow below mentioned procedure:

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 acknowledgement 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 acknowledgement issued after uploading the form.

4. Submit indemnity bond in original, copy of acknowledgement 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 refund from IEPF Authority".

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

Kindly note that there is no fees charged for filing form IEPF-5

The Author of this article can be Emailed at Pratibha_Goyal @hotmail.com

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