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How to Claim Unclaimed Shares and Dividends in India: The Complete IEPF Guide

October 22, 2025
iWills.in Team
A magnifying glass over a stock certificate, symbolizing the search for unclaimed shares.

Why Shares and Dividends Go Unclaimed

Many Indian investors and their heirs lose track of shares or dividends due to outdated contact info, misplaced certificates, or not knowing about succession rights. After 7 years of no claim, these assets are transferred to the Investor Education and Protection Fund (IEPF Authority, Ministry of Corporate Affairs).

Source: Your Money, Your Right – Ministry of Finance, Sep 2025

What Assets Move to IEPF?

  • Unclaimed dividends for 7 consecutive years
  • Shares where dividends have been unclaimed for 7 years
  • Deposits, debentures, matured company deposits not claimed
  • Benefit amounts from the company

Step-by-Step: How to Check and Claim Unclaimed Shares & Dividends

Step 1: Search for Unclaimed Shares/Dividends

Step 2: Form IEPF-5 Application

  • File Form IEPF-5 online.
  • Fill with correct details (folio, company, unclaimed asset, your info).
  • Submit—get a Service Request Number (SRN). Print and sign the filled form.

Step 3: Prepare & Send Physical Documents

  • Mail to the company’s Nodal Officer (address listed on company and IEPF sites):
    • Signed Form IEPF-5 printout
    • Indemnity bond (auto-filled, sign and notarize)
    • Acknowledgement slip
    • Proof (original share certificate for physical securities; demat CML for electronic)
    • KYC (PAN, Aadhaar, address proof)
    • Cancelled cheque / passbook first page
    • Affidavit/supporting docs for name/claim mismatches (if applicable)
  • Mark the envelope: “Claim for refund from IEPF Authority”
  • Upload postal receipt as proof on the MCA portal.

Step 4: Follow-up and Monitoring

  • Company verifies and forwards your claim to IEPF Authority within 30 days. (If delayed, ₹50/day late fee up to ₹2,500.)
  • IEPF may ask for clarifications within 60 days; respond swiftly.
  • Approved amount is directly credited to your bank or demat account.

Who Can Claim?

The original shareholder or their legal heirs, nominees, or successors by submitting proof (succession/legal heir certificate, will, etc.)

Why Creating a Will Can Save Your Heirs Trouble

A major reason unclaimed shares and dividends get stuck in legal limbo is the absence of a clear, registered will. When you create a will:

  • You specify exactly who will inherit your shares, dividends, and financial assets.
  • Your heirs and nominees have clear paperwork to claim assets from the IEPF and companies.
  • You drastically reduce delays and disputes in succession, giving your family fast access to what’s rightfully theirs.

Tip:

  • Your will should list all shares, mutual funds, and related assets.
  • Keep it updated after major life events (marriage, birth, asset changes).
  • Registering your will is not mandatory but adds authenticity.
  • Responsible planning avoids future trouble for your heirs. More on government will guidance: Your Money, Your Right.

FAQs and Key Facts

  • No charges for claiming from IEPF.
  • No time limit: You can claim at any time after transfer.
  • Original share certificates are required. If lost, follow Schedule III IEPF Rules procedure (FIR, indemnity, press advertisement for high-value).
  • Joint holdings: All legal heirs or only those named in succession proof must sign and submit.
  • Track claims: Keep your SRN, follow up with the company’s Nodal Officer.
  • Claim only once per company per year.
  • Default reasons for rejection: Incomplete documents, name mismatches, missed deadlines for clarifications.

Grievance Redressal

  • Create an online complaint (IEPF)
  • Call the toll-free helpline: 14453 (Mon-Fri, 9:30am-5:30pm)
  • In-person: Visit IEPFA HQ, New Delhi during working hours.
  • Central Grievance (CPGRAMS)

Pro Tips

  • Always update your KYC, nominee, and address records with your Depository Participant and registry.
  • Check dividends in your bank account regularly—don’t let them lapse for years.
  • If you inherit shares, act quickly to get all legal documentation in order.
  • Keep physical and demat details, including original share certificates, secure and accessible.

Official Resources

Conclusion:

Don’t let shares or those of loved ones remain unclaimed. Creating a will and knowing the IEPF claim process lets your family secure its financial legacy quickly, backed by India’s robust, digital-first system.

All facts and steps above are directly from Ministry of Finance and MCA resources, September 2025 edition.