IEPF Claims
IEPF Claims & Unclaimed Shares Recovery for NRIs
The IEPF (Investor Education and Protection Fund) serves as a central repository for unclaimed dividends, shares, and securities. NRIs (Non-Resident Indians) who have invested in Indian companies may have unclaimed shares in their name that need to be claimed. This document provides information and guidance on IEPF claims and the recovery of unclaimed shares for NRIs.
Understanding IEPF Claims
The IEPF was established in 2011 under the SEBI (Securities and Exchange Board of India) Act to protect the interests of investors and ensure the return of unclaimed dividends, shares, and securities to their original owners. Any individual or entity, including NRIs, who has invested in Indian companies and holds unclaimed shares, can file a claim with the IEPF.
How to Make IEPF Claims
To make a claim for unclaimed shares, NRIs must follow these steps:
1. Identify the shares: NRIs need to identify the company and shares they have invested in. This can be done by reviewing past investment statements, checking with the company’s registrar and transfer agent, or consulting stockbrokers or investment advisory firms.
2. Check with the Registrar and Transfer Agent (RTA): NRIs should first check with the company’s RTA to determine if they have any unclaimed shares. The RTA can provide the details of the shares, including their names and the amount due.
3. Submit a claim: NRIs can submit a claim to the IEPF through their designated authorized agent or directly through the SEBI website. The claim form should include the details of the shares, such as the company’s name, the number of shares, and the claimant’s name, address, and contact details.
4. Proof of NRI status: NRIs must submit proof of their NRI status along with the claim form. This could include a valid passport, visa, or any other official documentation that confirms their non-resident status.
5. Timely submission: NRIs must submit their claims within the prescribed time limit, as specified in the SEBI regulations. The claim form should be completed accurately and submitted along with all the required documents.