IEPF Claim Overhaul: MCA Streamlines the Refund Process for Investors

The Ministry of Corporate Affairs (MCA) has announced a major amendment to the Investor Education and Protection Fund (IEPF) Rules, effective October 6, 2025.
This update marks a significant reform in how investors reclaim their unclaimed dividends, matured deposits, debentures, and shares that were transferred to the IEPF.

What Has Changed

The amendment replaces the existing Form No. IEPF-5 with a new, comprehensive e-form that modernizes the refund process.

What This Means for Investors

1. Understanding the IEPF:
The Investor Education and Protection Fund serves as the central repository where companies deposit unclaimed investor funds and shares that have remained idle for seven consecutive years.

2. The New eForm IEPF-5:
All claims for refunds—whether of unpaid dividends, matured deposits, or transferred shares—must now be filed through this revised e-form.

3. Enhanced Details Required:
Claimants will need to provide extensive information, including:

• Personal and contact details (Aadhaar, PAN, email, phone).
• Company or bank particulars.
• Nature and type of claim (shares, dividends, deposits, etc.).
• Supporting documents such as proof of entitlement, death certificate (if applicable), and bank details.

4. Two-Step Verification Process:
The procedure continues to follow a two-stage system:

• Step 1: File the claim online using the new eForm IEPF-5.
• Step 2: Send the signed printout and mandatory physical documents—like the original indemnity bond, Aadhaar copy, and cancelled cheque—to the concerned company’s Nodal Officer (IEPF) for verification.

Key Takeaway

This overhaul enhances transparency, accuracy, and investor convenience, ensuring a smoother refund process under Sections 124 and 125 of the Companies Act, 2013. Investors are advised to familiarize themselves with the revised form and documentation requirements before initiating new claims.