NRI IEPF Claim: How NRIs Can Recover Unclaimed Shares and Dividends from India

Last updated: October 22, 2026

If you moved abroad years ago, there is a good chance some of your Indian shares or dividends got left behind. Maybe your address changed, your bank account was closed, or a parent held the shares and never told anyone. It happens more often than people think.

When a dividend stays unclaimed for seven years in a row, the company transfers both the dividend and the shares to the Investor Education and Protection Fund (IEPF). The good news is that this money and these shares still belong to you. An NRI IEPF claim is how you get them back, and you can start it from wherever you live.

What’s in this guide

• Why NRI shares end up in IEPF
• Can NRIs claim shares from IEPF?
• NRI IEPF claim process, step by step
• Documents required
• NRE vs NRO accounts
• Problems NRIs commonly face
• Tax and repatriation
• Can someone in India file for you?
• Do you need professional help?
• FAQs

Why NRI shares end up in IEPF

Under the Companies Act, a company must move unpaid dividends to the IEPF after seven years. The shares linked to those dividends go to the IEPF Authority’s demat account within 30 days of the due date.

NRIs run into this more than most because:

• The registered address in the company’s records is the old Indian one.
• The Indian bank account in the folio was closed or became dormant, so dividends bounced.
• Physical share certificates are lying in a locker or a family home in India.
• The original shareholder, usually a parent, passed away and nobody followed up.
• Names or signatures changed after marriage, a new passport or a move abroad.

Can NRIs claim shares from IEPF?

Yes. Both the unclaimed dividend and the shares transferred to the IEPF, along with any benefits that built up after the transfer, can be claimed from the IEPF Authority. Being an NRI, an OCI card holder or a foreign passport holder does not take away your right to the investment. You just have to follow the process and keep your documents in order.

NRI IEPF claim process, step by step

Step 1: Find out what was transferred
Write to the company or its Registrar and Transfer Agent (RTA). Ask for the number of shares and the year-wise dividend transferred to IEPF. Keep your old folio number or DP ID and Client ID, PAN and passport details ready, because they help the RTA trace your holding faster. Many listed companies also publish a list of shareholders whose shares were transferred on their website.

Step 2: Get the Entitlement Letter
Send the documents the company or RTA asks for and get your Entitlement Letter. For NRIs, they usually ask for a passport or OCI/PIO copy in place of an Aadhaar card, plus a Client Master List and, for demat holdings, a transaction statement showing the shares being debited.

Step 3: File Form IEPF-5 online
Fill in Form IEPF-5 on the IEPF refund page and the MCA portal. After you submit, you get an acknowledgement with an SRN (Service Request Number). Save it, because you will need it to track the claim. Double-check the bank and demat details before you submit, since small errors here are a common reason for rejection.

Step 4: Prepare and attest your documents
Print the form, the acknowledgement and the indemnity bond generated after filing. Several companies ask NRIs to send self-attested copies of the passport, OCI and PIO card that are also apostilled. This varies from company to company, so confirm the exact format with the RTA before you spend time on attestation.

Step 5: Courier everything to the company
Send the documents in an envelope marked “Claim for refund from IEPF Authority” to the Nodal Officer (IEPF) at the company’s registered office in India. Use a trackable international courier and keep the receipt.

Step 6: Company verification
The company checks your papers and sends an online verification report to the IEPF Authority, normally within 30 days of receiving your claim. If anything is missing or doesn’t match, they will ask you to fix it and resend.

Step 7: Shares and dividend are credited
Once the IEPF Authority approves, the shares go into your demat account and the dividend is paid to your bank account by electronic transfer.

Documents required for an NRI IEPF claim

The exact list depends on the company, but most NRI claims need these:

• Passport copy (and OCI/PIO card if applicable), self-attested and apostilled if the company asks
• PAN card
• Overseas address proof and old Indian address proof
• Cancelled cheque or bank details of your NRE/NRO account
• Client Master List of the demat account where you want the shares credited
• Client Master List or transaction statement of the original demat account from which shares were moved to IEPF
• Entitlement Letter, printed Form IEPF-5, acknowledgement and indemnity bond
• Share certificate copy or proof of holding, if you have it

NRE vs NRO accounts

NRIs usually hold Indian bank and demat accounts as NRE or NRO. Income from old Indian holdings, such as dividends from long-held shares, generally falls under NRO rules. Sending NRO money abroad is subject to FEMA limits and tax compliance. If you don’t have an NRI demat account yet, you will need to open one before the shares can be credited, so it is worth sorting this out early. A CA can tell you which account suits your case.

Problems NRIs commonly face

• No Aadhaar: The refund process leans on Aadhaar-linked bank accounts. NRIs submit passport or OCI documents instead, so ask the RTA how they want bank details verified.
• Apostille delays: Getting documents apostilled in another country takes time. Start early.
• Courier problems: Original papers like the indemnity bond must physically reach India. A lost parcel can cost you months.
• Name and signature mismatch: Your name and signature should look the same on the passport, PAN, demat records and the form.
• Dormant accounts: Old bank or demat accounts may need KYC updates before they can receive anything.
• Legal heir cases: If the shareholder has died, you also need a death certificate and succession or probate papers.

Tax and repatriation

Dividends paid to non-residents are taxable in India, and TDS is deducted at the applicable rate. Depending on the country you live in, a Double Taxation Avoidance Agreement (DTAA) may reduce the tax. If you sell the recovered shares, capital gains rules apply. Talk to a tax adviser before you file so you know what to expect.

Can someone in India file the claim for you?

Many NRIs ask a relative or a professional in India to handle the paperwork through a notarised and apostilled Power of Attorney. Whether the company accepts it depends on the company and the type of claim, so check with the RTA first.

Do you need professional help for an NRI IEPF claim?

You can file it yourself. But when you’re abroad, every step takes longer: tracing the shares, getting documents apostilled, arranging stamp paper, and chasing the company in India. Help is worth it if:

• You don’t know which companies’ shares were transferred
• Original share certificates are lost
• The shareholder has died and you are a legal heir
• You hold shares in several companies
• Your records and documents don’t match

At Codrak Solutions, we handle NRI share recovery from IEPF end to end. We trace your holdings, coordinate the Entitlement Letter, prepare affidavits and indemnity bonds, file Form IEPF-5 and follow up with the company until the shares reach your demat account. You can read more about our financial services or about transmission of shares after death if the holder has passed away.

Living abroad and think you have unclaimed shares in India? Book a free consultation and we will look at your case.

Frequently Asked Questions about NRI IEPF Claim

Can an NRI claim shares from IEPF?
Yes. NRIs, OCI and PIO card holders and foreign nationals can all file an NRI IEPF claim to get back unclaimed shares and dividends. The process is the same Form IEPF-5 route that residents use, but NRIs submit passport or OCI documents instead of Aadhaar. You can start the claim online from abroad and courier the signed documents to the company in India.

Do I need to travel to India to claim shares from IEPF?
Usually not. Form IEPF-5 is filed online, and the supporting documents are sent by courier to the company’s Nodal Officer. The only catch is that some papers, like the indemnity bond, must reach India in original. If you can’t manage the paperwork from abroad, you can authorise someone in India through a Power of Attorney, subject to the company’s approval.

Is an apostille required for an NRI IEPF claim?
Many companies ask NRIs to send apostilled copies of their passport, OCI or PIO card, but the rule is not the same everywhere. Some accept self-attested copies, others want an embassy or notary attestation as well. Before you get any document attested, write to the company or RTA and confirm what they accept, so you don’t have to do it twice.

How do I check if my shares were transferred to IEPF?
Start by checking the company’s website, where listed companies often publish the names of shareholders whose shares moved to IEPF. You can also write to the RTA with your folio number or DP ID/Client ID and PAN. If you don’t remember which companies you invested in, a share recovery professional can trace your holdings through old records and depository data.

Is there a deadline to claim unclaimed shares and dividend from IEPF?
There is no fixed deadline for an IEPF refund, so your shares don’t expire once they are with the IEPF Authority. Still, it is better not to wait. Old records get harder to match, family members who knew about the holding may no longer be around, and your KYC details keep going out of date.

Which account will my IEPF shares and dividend be credited to?
Shares are credited to the demat account you mention in Form IEPF-5, and the dividend goes to the bank account in the form. For an NRI, this is usually an NRI demat account and an NRE or NRO bank account. Check every digit of the account details before you submit, because a wrong entry can get the claim rejected.

Can I claim IEPF shares of a deceased parent from abroad?
Yes, as a legal heir you can claim IEPF shares of a deceased parent while living abroad. You will need extra papers such as the death certificate, a will or succession certificate, and legal heir documents, along with your own KYC. Because these cases involve more paperwork, many NRI legal heirs take professional help to avoid rejections.

Can NRIs send IEPF dividend money abroad?
It depends on the type of account and FEMA rules. Dividend from old Indian holdings is usually credited to an NRO account, and sending NRO funds abroad has limits and needs tax documents like Form 15CA/15CB. Speak to a CA or your bank before you plan to repatriate the money, so you know the limits and tax impact in advance.

How long does an NRI IEPF claim take?
A clean claim can take a few months, because the company verifies it first and then the IEPF Authority approves it. NRI claims often run longer due to apostille, courier time and document mismatches. Cases with lost certificates or deceased shareholders take the longest. Filing complete, matching documents the first time is the best way to save time.

Disclaimer: This article is for general information only and is not legal, tax or financial advice. IEPF rules and each company’s requirements can change, so please check the official IEPF website and the company’s own procedure, or speak to a professional before you file.