If the dividend or uncomfortable share of any of your old investment has not yet been received, then there is good news for you. Investor Education and Protection Fund Authority (IEPFA) is going to launch a new online portal by August 2025. The purpose of this portal is to give uncured shares and dividends back to their legal entitlement quickly and easily.
IEPFA has so far deposited more than 1.1 billion shares and a value of about ₹ 1 lakh crore. Apart from this, people have not claimed a dividend of about ₹ 6,000 crore.
Claim will have to be easy, relief will be given from long process
Right now those who want to get their dividend or shares back, they have to prepare many documents and send it to IEPFA. This process is quite long and tedious. But now the new portal that comes, many things will be very easy for investors.
- Investors will be able to track the condition of the claim live.
- Will be able to contact the company directly.
- Information related to PAN number, bank and demat account will be verified immediately.
Camps will be set up, money will be given directly from companies
IEPFA and SEBI will also organize ‘investor camps’ in big cities. In these camps you will be told how you can get your money back. The plan is that in some cases companies can transfer your money (eg dividend) directly to your account, IEPFA does not come in the middle, just play the role of a bridge.
Document discount and online search facility
In the recent past, IEPFA has taken several steps to make the claim process easier:
- Now some documents do not require notary.
- The imperative of succession certificate for claims up to ₹ 5 lakh is over.
- On the IEPFA website, you can now easily see whether there is a dividend or share in your name.
IEPFA was established in 2016. Its aim is to return their outstanding money to investors and make them aware of investment.
What are uncured shares?
Unclaimed Shares means the shares on which no investor has made any claim or transaction for a long time. There are some special reasons for being uncured shares.
- The investor had bought shares but did not get transfer to demat account for a long time.
- The investor died and his heirs were not aware.
- The stocks remained in the physical form (paper on paper) and were not digital.
- The investor did not update the address or bank details, causing the dividend or no information to them.
If a stock remains without any claim or transaction for 7 years, it is transferred to the share and related dividend IEPFA (Investor Education and Protection Fund Authority). Investors or their successors can claim them later. If you say in easy language, then these are the money that you are, you have not asked for them yet.
What does uncured dividend mean?
Unclaimed dividend means, the company did not reach the investor for some reason or did not take it out of the profit that the company decided to distribute the dividend. This usually happens when:
- The investor did not update the bank account details.
- The check was sent but he was not cash.
- The investor’s address changed and the dividend returned.
- The investor did not know that the dividend had come.
If dividend is not taken for 7 years, that amount is also transferred to IEPFA, just as uncured share. Later the real investor or his legal successor can claim it. This means that this is your earnings, but you did not complete the process of taking it.
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