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IEPF-5 is the application made to the Investor Education and Protection Fund (IEPF) Authority for claiming unpaid dividends and shares out of the IEPF. Under Section 125(2)(c) of the Companies Act, 2013 (‘Act’), the company should transfer the amounts in its unpaid dividend account to the IEPF.
The shareholders of the company need to file e-Form IEPF-5 under Section 125(3)(a) of the Act and Rule 7(1) of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, along with other requisite documents, as may be specified from time to time, to claim their unpaid dividend amount transferred to the IEPF.
The Central Government has established the Investor Education and Protection Fund. The IEPF promotes investor awareness and protects the interests of the investors. Under Section 124(5) of the Act, the amount transferred to the unpaid dividend account of a company that remains unpaid or unclaimed by a shareholder for seven years will be transferred along with interest accrued to the IEPF.
Section 124(6) of the Act, 2013 provides that all shares for which the dividend is unclaimed or unpaid for seven consecutive years shall be transferred to the IEFP by the company. Section 125(3)(a) of the Act provides that the shareholders of the unpaid dividend or matured deposits, or matured debentures can claim a refund of the unpaid amount transferred to the IEPF.
Rule 7(1) of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 provides that a shareholder whose:
has been transferred by the company to the IEPF, can claim the refund of these amounts by applying the Form IEPF-5 to the IEPF Authority online along with the prescribed fees decided by the IEPF Authority periodically in consultation with the Central Government.
The shareholder of a company whose unclaimed or unpaid amount is transferred to the IEPF can claim the refund of such amount from the IEPF Authority by applying form IEPF-5 on the MCA (Ministry of Corporate Affairs) portal.
The process for applying Form IEPF-5 online is as follows:
The required documents to be submitted along with the Form IEPF-5 are as follows:
The shareholders whose unpaid or unclaimed amounts are transferred to the IEPF can claim a refund of such amounts by filing the form IEPF-5. The form IEPF-5 needs to be applied to the IEPF Authority by logging into the MCA portal. The form IEPF-5 helps the shareholders of a company to get back their unpaid or unclaimed amounts.
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