How to Claim Shares from IEPF of a Deceased Person

Prior to the emergence of dematerialized trading, paper certificates were used for the allocation of securities. Since these certificates are physical, it is possible for them to be misplaced, lost, or damaged. In cases where a shareholder passed away or a person died and the heirs were unable to collect the agreed-upon sum, you can call Legalraasta to claim the deceased person's shares from the IEPF in an efficient and successful manner.

Read also this -: All You Need to Know for Recovery of Shares from IEPF

In view of the above, the Indian Government underpinned a procedure where the investors can Claim shares from IEPF.So in this blog, we talk about claiming shares from the IEPF of a deceased person.

Understanding the following phrases will help you claim your shares from the IEPF

  • Unpaid Dividend: A dividend that has not been paid or claimed 30 days after it was declared.
  • Unpaid Dividend Account: The corporation must move any dividend funds to a separate company account within seven days if they are not paid or claimed within 30 days of the dividend's proclamation date.
  • Claim Shares from Iepf: Any cash transferred to a "Unpaid Dividend Account" that is not paid or claimed after seven years from the transfer date may be transferred to the Investor Education and Protection Fund.

    • Claiming shares owned by the deceived

    For hassle-free & smooth services to obtain shares from a deceased person's IEPF, contact Legalraasta. The following services may be rendered in order to claim a deceased person's shares from the IEPF:

  • Share Transfer: Share transfers involve the legal transfer of shares from the original owner to the claimant due to a variety of circumstances, including insolvency, death, marriage, and insanity. These people are also entitled to the rights attached to the shares and are now the legitimate owner of the shares.
  • Transfer deed: The purposeful transfer of title of the claims between the transferor and the transferee is referred to as a transfer of shares. The transfer deed is the legal document, and it routes the transferor's liability to the recipient of the shares.
  • Transfer of unclaimed dividends: When an unclaimed dividend is not used for seven years and the IEPF has the ability to recover securities from SEBI, it is transferred to the IEPF.Dividends are defined as the profit made available to shareholders in the event that a company makes a profit.

    • How to claim shares from a deceased person's IEPF

    1. To claim shares from IEPF, complete the IEPF 5 of Deceased Person form with basic information such as Aadhar, the name of the company, and bank information.

    2. After filling out the form, upload it and take note of the SRN, which is an identification number for following your claim's status with the IEPF.

    3. After that, pay the Pay and Accounts Officer to claim shares from IEPF.

    4. Take a printout of the form and submit it to the company's IEPF Nodal Officer along with all pertinent documentation and an indemnity bond in an envelope marked "claim from IEFP."

    Read also this -: Instructions for Claiming the Shares from IEPF Authority

    Conclusion

    We hope this blog answers all of your questions about how to obtain shares from a deceased person's IEPF. If you think our blog has important information, please share it with other platforms as well. If you're unsure how to make a claim, you can also speak with a member of our legalraasta team to make the process simpler and faster and to make a claim for shares from IEPF.

    Location: India

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