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Learn the process for refund of IEPF shares to discover how investors reclaim shares or dividends transferred to the fund.
The Investor Education and Protection Fund (IEPF) is a statutory body created by the Government of India to manage unclaimed dividends, matured deposits, matured debentures, and shares that remain inactive for a long period. When shareholders do not claim their dividends for seven consecutive years, the corresponding shares are transferred to the IEPF Authority. However, these shares can be reclaimed by submitting the appropriate request and documentation.
IEPF shares refer to equity shares transferred by a company to the Investor Education and Protection Fund Authority when dividends on those shares remain unclaimed for seven consecutive years. Once transferred, the shares, bonus shares, split shares, and dividend amounts related to them are held by the IEPF until the rightful owner or claimant submits a refund request.
IEPF shares ensure investor protection by centralising unclaimed assets and preventing misuse. Though the shares are transferred, the rightful owner retains full ownership and can claim them through a formal process.
The following individuals may apply for the refund of IEPF-transferred shares:
Original shareholder whose shares were transferred
Legal heir of a deceased shareholder
Successor or administrator of the shareholder’s estate
Nominee registered with the company
Multiple legal heirs, with one acting as the claimant and others giving consent
Each category must provide appropriate supporting documents to establish their claim.
Below is the complete, step-by-step process to claim IEPF shares:
Visit your company’s website → “IEPF Details” section
Confirm that your shares/dividends are transferred to the IEPF
Visit the official IEPF website and verify details using your name, folio, or DP-ID
Visit the official IEPF portal
Fill Form IEPF-5 with details such as:
Personal information
Company name
Number of shares
Folio/DP-ID/Client-ID
Aadhar & PAN details
Upload supporting documents
Submit and download the acknowledgement
Take a printout of the IEPF-5 form and acknowledgement
Attach self-attested copies of all documents
Courier the package to the Nodal Officer/Deputy Nodal Officer of the company
The company verifies your documents
If documents are correct, the company issues a Verification Report to IEPFA
If any issues arise, the Nodal Officer will contact you for clarification
Once the verification report is received, IEPFA initiates processing
IEPF Authority may request additional documents if required
After approval:
Shares are credited to your Demat account, or
Refund amount (if claiming unclaimed dividend) is credited to your bank account
Here are the documents commonly required for an IEPF share refund:
Acknowledgement of Form IEPF-5
Self-attested PAN & Aadhaar
Original share certificate (for physical shares)
Client Master List (CML) from your DP
Cancelled cheque with printed name
Proof of entitlement (dividend warrants, transaction statements, etc.)
Death certificate (if claiming as heir)
Succession certificate / legal heir certificate / probate (where applicable)
Passport-size photographs
Any additional document requested by the company or IEPFA
Here are the important details:
Filing IEPF-5: Immediate
Sending documents to Nodal Officer: Within 7 days of filing
Company verification: 30 days (may vary)
IEPFA verification & approval: 60 days after company report
Share credit/refund: Within 30 days after approval
Total estimated time: 3–4 months (may extend if documents are incomplete or discrepancies arise).
Here are the common mistakes and issues that often lead to IEPF refund rejections:
Name mismatch between documents and share records
Wrong or incomplete supporting documents
Signature mismatch
Incorrect bank or Demat details
Missing legal heir documents
Multiple heirs applying without consent letters
Not responding on time to company or IEPF queries
These errors may result in delays or claim rejection, avoiding these may ensure a smoother processing.
Recovering shares or dividends from the IEPF is fully possible, provided the correct procedure and documentation are followed. The process includes filing Form IEPF-5, verifying details with the company’s Nodal Officer, and securing approval from the IEPF Authority. Following the correct procedure and submitting required documents allows shareholders and heirs to submit claims to reclaim their shares.
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
The IEPF-5 form is the official online application used to claim unclaimed dividends, matured deposits, matured debentures, or shares that have been transferred to the Investor Education and Protection Fund (IEPF) Authority.
If the entitlement letter is not received, the claimant should contact the company’s designated Nodal Officer without delay. The entitlement letter is mandatory for completing the verification and refund process.
If an IEPF claim is rejected, a revised application can be filed after rectifying the errors and attaching the required documents. In certain situations, additional legal documents or clarifications from the company may be necessary to support the resubmission.
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