Application to the Authority for claiming unpaid amounts and shares out of Investor Education and Protection Fund (IEPF)

IEPF Refund- 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 to file form IEPF-5 alongwith requisite documents.

Procedure to claim Refund of unpaid amounts and shares out of Investor Education and Protection Fund (IEPF)

User is advised to file one form for one financial year against one Aadhar Number and one Company. User can enter more than one claims in single form (Number of claims to be entered in field 4), failing which the form is liable to be rejected.

Part I Law(s) Governing the e-form IEPF-5

Section and Rules

eForm IEPF-5 is required to be filed pursuant to sub-section (3) of section 125 of the Companies Act, 2013 and rule 7(1) of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

Rule 7(1) of of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

Any person, whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, etc. has been transferred to the Fund, may claim the shares under provision to sub­section (6) of section 124 or apply for refund, under clause (a) of sub-section (3) of section 125 or under proviso to sub-section (3) of section, the case may be, to the Authority by making an application in Form IEPF 5 online available on website www.iepf.gov.in along with fee, as decided by the Authority from time to time in consultation with the Central Government, under his own signature.

Purpose of the e-form IEPF-5

The person in respect of whom any amount is transferred to the IEPF, can make an application by filing Form IEPF-5 with the IEPF authority set up by MCA that shall further process the application.

IEPF authority may seek necessary clarifications from the concerned company/bank.

Reference

New form implemented as per Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016]

Part II Instructions to fill the e-form IEPF-5

Specific Instructions to fill the eForm IEPF-1 at Field Level

Instructions to fill the eForm are tabulated below at field level. Only important fields that require detailed instructions to be filled in eForm are explained. Self-explanatory fields are not discussed.

Field No. Field Name Instructions
1 Only one Form to be filed for one financial year against one Aadhar Number and one Company. User can enter more than one claims in single form (Number of claims to be entered in field 4), failing which the form is liable to be rejected.
1 Particulars of the Applicant Enter Name, Address and contact details of the Applicant.
2 Particulars of the Company from which the amount is due Enter the Valid CIN of the company. You may find CIN by entering existing registration number or name of the Company in the ‘Find CIN’ service under the menu MCA Services on the MCA website. (www.mca.gov.in)

Click the Pre-fill button. Upon clicking the button, system shall automatically display the name, registered office address and email id of the company.

In case there is any change in the email ID, you can enter the new valid email ID which would be updated in MCA records upon processing of this eForm.

3 Details of shares claimed Enter the details of shares including folio id, etc.
4 Details of Amount Claimed Enter the details of amount claimed.
Enter the number of claims made.The number of rows under ‘Year wise details of securities/ deposits for which the amount is claimed’ shall be generated based on the number of claims entered by the applicant.
5 Aadhar Number or Passport / OCI / PIO Card No. (in
case of NRI/foreigners)
Enter Aadhaar Number of applicant in case of Indian National. Aadhar number should be correctly filled, failing which the form is liable to be rejected.

For foreign nationals, enter OCI/PIO Card number, failing which the form is liable to be rejected.

Number of Claims User can enter more than one claims in single form.
6 Details of bank account (Aadhar linked, in case applicant is not NRI/foreigner) in which refund of claim to be made Enter bank account number, Bank name, Bank branch, Type of account and IFSC code. The Bank details should be correctly filled and corresponding with cancelled cheque enclosed, failing which the form is liable to be rejected.

In case of Indian Nationals, Bank Account Number must be Aadhaar linked.

7 Demat Account Number Enter Demat Account Number

Demat account number is mandatory to fill for the applicant claiming shares, failing which the form is liable to be rejected.

Declaration Click on check box given in declaration, after carefully reading all conditions

Part III- Important points for successful submission of e-form IEPF-5

After pre scrutiny is done the user is required to upload the form using steps as given below:

1. Go to IEPF Website (www.iepf.gov.in) and use the option form upload. You will be redirected to MCA21 for form Upload.

2. Login using your ID and Password (if existing or else register yourself by clicking on register and entering the required details).

3. After login, click on normal upload.

4. Click on Browse and attach the form. Click on Submit.

5. SRN will be generated and you will ask for payment option (Pay Now or Pay later).

6. Though Fee will be zero, but click on Pay now option only to generate the acknowledgement.

7. After clicking on Pay Now, you have to click on Finish when zero fee page will be shown. Acknowledgement will be generated.

Part IV-Process to be followed after filling the e-form IEPF-5

Steps to be followed after Form upload:

User has to send the attachments prescribed below to Nodal Officer (IEPF) of the company at its registered office in an envelope marked “claim for refund from IEPF Authority” for initiating the verification for claim

a. Print out of duly filled and uploaded claim form IEPF-5; with claimant signature and if joint holders are involved than the Form should be signed by all the joint holders

b. Copy of acknowledgement generated after uploading the claim Form IEPF-5

c. Indemnity Bond (original) with claimant signature (As per format given in Annexure II) to be executed :

> On a non-judicial Stamp Paper of the value as prescribed under the Stamp Act (According to state) if the amount of the claim is Rs.10, 000 or more. Please ensure to enter date, place and Signature of claimant and witness.

> On a plain paper if the amount claimed does not exceed Rs.10,000.

> In case of refund of shares, on a non-judicial Stamp Paper of the value as prescribed under the Stamp Act.

d. Advance Stamped receipt (original) with signature of claimant and two witnesses. (Format is given at Annexure I)

e. In case of refund of matured deposit or debenture, or bonds, or where shares (in physical form) are claimed original certificate thereto

f. Copy of Aadhaar Card of the claimant and if joint holders are there, Copy of Aadhar card of all the joint holders

g. Proof of entitlement (certificate of share/Interest warrant/dividend warrant, Application No. etc.)

h. Original Cancelled Cheque leaf

i. Copy of Passport, OCI and PIO card in case of foreigners and NRI

j. Copy of PAN Card (mandatory in case of claim for shares)

k. Client Master List of De-mat A/c of the claimant

l. In case any Joint holder is deceased, Copy of Death certificate to be attached.

m. Other optional documents, (if any)

Format of Advance Stamped receipt (original) with signature of claimant and two witnesses

Annexure I

Advance Receipt

Received from the Investor Education and Protection Fund Authority the sum of Rs…………. and No. of Shares …………  being the amount and shares payable to me from the Investor Education and Protection Fund as ………..  (Dividend on Equity / Preference shares / matured deposits / matured debentures / application money due for refund / interest accrued on …………………….. /Dividend credited to IEPF under Companies Act, 1956 or Companies Act, 2013/ Dividend credited to General Revenue Account under Companies Act, 1956 / others, specify….. )# which was originally due from M/s……………………………………………………….. .(Name of the Company)

Signature of claimant with date

 

Stamp Affix Revenue Stamp

Signature of witness:

1. Signature with date

Name

Address

2. Signature with date

Name

Address

* Please ensure to affix Revenue Stamp with crossed Signature to avoid delay in processing of the claim

# Strike off whichever is not applicable

Format of Indemnity Bond (original) with claimant signature

Annexure II

Indemnity bond

To

The Investor Education and Protection Fund Authority

……………………..

In consideration of the payment of Rs …………….  and No. of shares………….. being the amount and shares due to me as ……………..  (Dividend on Equity / Preference shares / matured deposits / matured debentures / application money due for refund /interest accrued on……………….. /Dividend credited to IEPF under Companies Act, 1956 or Companies Act, 2013/ Dividend credited to General Revenue Account under Companies Act, 1956 / others, specify………. )# for the Financial Year………….. from M/s ………………………………. .(Name of the Company) out of the Investor Education and Protection Fund by the Authority, I …………………………. son /daughter /wife# of ………………….  do hereby agree and undertake to indemnify the Investor Education and Protection Fund Authority to the extent of any claim not exceeding the amount hereinbefore mentioned which may be preferred against the Investor Education and Protection Fund Authority, and which it has to lawfully discharge.

Signature

Date:
Place:

Witnesses:

1.Signature with date

Name

Address

2. Signature with date

Name

Address

* For ensuring timely processing of the claim, please ensure to make all the entries

# Strike off whichever is not applicable

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Whatsapp

taxguru on whatsapp WHATSAPP GROUP LINK

Join Taxguru Group on Telegram

taxguru on telegram TELEGRAM GROUP LINK

More Under Corporate Law

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

December 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031