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Transfer of Shares to Demat Account of IEPF Authority

The Investor Education and Protection Fund (IEPF) Authority ensures that the investor’s wealth is in no way misused or misappropriated. According to the IEPF (Accounting, Audit, Transfer and Refund) Rules, 2016, all shares in respect of which the dividend has not been paid or claimed for a period of seven consecutive years or more by the shareholders of the concerned companies are required to be transferred to the demat account that IEPF Authority.

As per the above rules, companies are required to transfer shares of those shareholders(demat/ physical) who have not claimed their dividends for seven consecutive years from the company to the demat account of IEPF Authority.
In view of the above, you are requested to ensure the following to avoid transfer of shares from your demat account to IEPF Authority.

  1. Core banking account number, IFSC and MICR of your bank account are already updated in your demat account, so that companies who declared dividends during last 7 years could credit the dividends directly (through ECS) to your bank account.
  2. You have received dividends in any time during last 7 years from those companies who declared dividends and still holding in your demat account.

In case any of your shares have already been transferred to IEPF Authority and you want to claim the shares / Dividend(s) after its transfer to IEPF, a separate application has to be made to the authority in Form IEPF-5, as prescribed under the IEPF Rules and the same is available at www.iepf.gov.in.