Claim on Old Dividends: Many people forget about old shares or dividends they once owned. If no one claims those dividends for seven years, the company must send both the money and the related shares to the Investor Education and Protection Fund, also called IEPF. But the good news is that you can still get them back if you can prove that they belong to you or your family.
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What moves to IEPF?
When a company pays a dividend and it stays unclaimed for seven straight years, the company transfers both the unpaid dividend and the related shares to IEPF. This often happens after company mergers, name changes, or when people forget about their old investments. The IEPF keeps the money and shares safely in your name until you make a claim for them.
How to Check if you have Unclaimed Shares or Dividends?
To see if anything is owed to you, visit the IEPF website. There is a search tool where you can type your name or PAN number. If your name appears, note down the company name, folio or client ID and the number of shares or dividend amount. It’s a good idea to take a screenshot or print it out because you’ll need those details later while filing your claim.
How to File a Claim?
You have to download and fill out the IEPF-5 form online. Then you attach scanned copies of your proof documents and submit it. After that, you must print the acknowledgment form and courier it, along with signed copies of your papers, to the company’s nodal officer.
The company will check your details and send a report to the IEPF. Once everything is approved, your shares are added back to your demat account, and the dividend money goes straight into your bank account.
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Important Documents you’ll Need
You should keep self-attested copies of your PAN card, Aadhaar card, and a cancelled cheque as proof of your bank account. You also need your demat account details and any old share certificates or dividend warrants if you still have them. If there are joint holders, all their signatures are needed. For people claiming on behalf of someone who has passed away, legal papers like a succession certificate or probate must be attached.
Tips to Make the Process Faster
Always make sure your name, date of birth, and address are the same on all documents such as PAN, Aadhaar, demat, and bank accounts. If there are spelling differences or if your name has changed after marriage, include a Gazette or name-change proof. If your signature has changed, a banker’s verification will help. Sending one complete set of documents in order saves a lot of time and avoids back-and-forth communication.
How Long does it takes?
Most claims are processed in a few months, but it depends on how fast the company checks your papers. You can track your claim status online using your acknowledgment number and if it takes too long then you can juts email the company’s nodal officer and follow up once every two weeks to move things faster.
