Why Shares transferred to IEPF:
As per the Companies Act 2013, if shareholders do not claim their dividends for seven consecutive years, the unclaimed dividends and shares will be transferred to the Investor Education and Protection Fund (IEPF). This applies regardless of whether the shares were in physical or electronic form.
it is immaterial whether the shares were held in physical form or electronic form. If the dividends of shareholders remain unclaimed for 7 consecutive years, both the unclaimed dividends and the corresponding shares will be transferred to the Investor Education and Protection Fund (IEPF).
List of Documents required for a claim of share from IEPF:
The following list is required when -
Condition:
Shares were in physical mode.
Shareholder is Alive
Documents Required:
1. Entitlement letter: An entitlement letter is a document received from the company it contains the following information
a. Name of Company
b. Name of Shareholder
c. Number of Shares
d. Amount of DIvidend in the finance year.
(some time number of share doesn't mention in the Entitlement letter)
2. Aadhar Card: Aadhar card of the claimant.
3. PAN CARD: Pan card of Claimant.
4. Email ID: Email ID is required to track the status of the claim
5. Phone NO: Phone no is also required to verify the IEPF 5 form.
6. Client Master List: The Client Master is essential because it helps transfer physical shares to the claimant's Demat Account, making it easier to handle and trade the shares electronically.
Time Required to claim shares from IEPF:
The approval process usually takes around 6 months, but sometimes it can take longer, and there is no fixed time limit. It may take up to 12 months or even more to get approved.
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