Everybody knows that if he/she has any investment in the company, he/she will get dividends on the shares. We all know dividend is not constant or even interest. Sometimes, it can be very less than expected, but some company's dividend may be huge than expected. It depends on the company's performance. But, what happens if you have invested in a company and some company has gone to IEPF authority (due to insolvency & Bankruptcy), then how to claim that dividend? Let's dive in!
The Investor Education and Protection Fund Authority, a branch of India's Ministry of Corporate Affairs, announced an update to the framework related to the due dividends of investors and depositors which were carried over and transferred. Investors who are now able to reclaim their due payment will most likely benefit from having financial security in place related to any unpaid declared profits through no fault of their own.
In the event you are an investor or depositor, you might have issues when it comes down to recovering your money from an IEPF claim. Don't worry because in this article we'll explain how investors and depositors can file.
Follow these simple steps:
Investors who hold shares can claim their dividend once it has been transferred to IEPF Authority. Investors can do so by downloading the form IEPF 5 and filling it up. If you hold your shares in physical form, then you can visit the website and download the form and fill it up and then submit it.
As soon as you've completed the form, make sure to save it on your computer. After that, give the completed form a glance over before uploading it online, like the instructions provided by the IEPF website ask. Make sure everything is correct after checking it thoroughly! Once you get that confirmation page saying you were successful in uploading your form, make sure to get the serial number (SRN) written down either in your smart device or elsewhere, so you don't lose it!
After doing this, you can print out the IEPF-5 form that has been filled in with your signature on it, and the SRN that was created by uploading the form.
You can submit the below documents:
A copy of the acknowledgment of your IEPF form, a self-certified printout of your e-IEPF form, and of course all the other necessary documents on hand, should be submitted to your company's nodal officer (IEPF) at their registered office.
After you file the paperwork, your claim form is reviewed by your company. Once they approve it, then the IEPF Authority verifies that the claim has been filed correctly and then sends the claims to relevant departments for further review. Once they receive instruction from their department, they will process your refund.
It is possible for you to claim back the money deposited in the Investor Education and Protection Fund. If you are looking for a way to claim the money which you have deposited with the stockbrokers or mutual fund houses, you can do so by filing a claim with the Investor Education and Protection Fund (IEPF). It is possible for you to claim back IEPF under certain conditions. This blog has gone through some of the conditions that you need to fulfill in order to claim the money deposited with the Investor Education and Protection Fund.
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