IEPFA (Accounting, Audit, Transfer and Refund) Amendment Rules, 2025

IEPFA (Accounting, Audit, Transfer and Refund) Amendment Rules, 2025. The Ministry of Corporate Affairs (MCA) has issued a new notification on 1 October 2025, introducing the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2025. These rules will take effect from 6 October 2025 and bring important changes to how investors claim unclaimed shares, dividends, and other amounts from the IEPF Authority.
Learn more about Recovery of Shares.
Key Amendment: Introduction of the New Form IEPF-5
The new amendment completely replaces Form IEPF-5, which investors use to claim their unpaid dividends, matured deposits, shares, or other amounts transferred to the IEPF. The updated version of Form IEPF-5 is designed to make the process smoother and more secure for claimants. It now includes digital verification, OTP-based authentication, and transparent document submission. This update not only speeds up claim processing but also ensures greater accuracy, security, and convenience for both investors and companies handling such claims.
Learn more about IEPF-5 Recovery of Unclaimed Shares and Dividends.
Major Changes Introduced in the New Form IEPF-5
Introduction of the “Entitlement Letter”
Claimants must now specify whether an Entitlement Letter has been issued by the concerned company or bank. If yes, a copy of the letter must be uploaded with the form.
Filing Through an Authorised Representative
The form can now be filed either by:

The claimant personally, or

An authorised representative, with a signed authority letter.

This change is especially beneficial for NRIs, senior citizens, or investors who may find it difficult to file claims themselves.
Detailed Applicant Information
Applicants must now provide comprehensive details, including:

Full name, father’s name, and Aadhaar number (for Indian citizens)

PAN, email ID, and mobile number (both verified through OTP)

Passport/OCI/PIO details (for NRIs or foreign applicants)

This stronger identity verification process helps prevent fraudulent or duplicate claims.
Flexible Claim Options
Claimants can now specify whether their claim relates to:

Shares only

Amount only, or

Both shares and amount

This structured approach makes the verification process more efficient for the IEPF Authority.
Digital Verification & E-Sign Integration
The new form enables:

OTP verification for both contact numbers and emails.

PAN verification through the MCA portal.

E-Sign functionality for digital authentication of the claimant’s declaration.

This reduces the need for physical signatures and manual verification delays.
Multiple Folio Management
The form now allows multiple folios for the same company or bank to be added under a single application. (Max. 15 (Entries).  Reduces duplication and streamlines the process for shareholders with multiple holdings.
New Legal Declarations
Both claimants and authorised representatives must declare that:

All information provided is true and complete.

No duplicate claim has been made under the same folio or financial year.

The declaration explicitly cites Section 448 of the Companies Act, 2013, warning that:

“Any false statement or concealment of material facts shall be punishable under Section 447 (fraud).”
representative.
Updated Attachment Requirements under the IEPFA Amendment Rules, 2025

Mandatory Attachments

Purpose

Client Master List / Demat Statement

Proof of shareholding and holdings.

Proof of Entitlement

Share certificate, dividend warrant, or entitlement letter issued by the company/bank.

Cancelled Cheque Copy

Bank account verification for refund transfer.

Copy of Aadhaar Card

Identity verification for Indian claimants.

Indemnity Bond (original)

Legal compliance and declaration of claim authenticity.

Death Certificate

Required in case of claims by legal heirs.

Succession Certificate / Will / Probate

For establishing entitlement of legal heirs.

Passport / OCI / PIO Copy

Identity verification for NRIs and foreign claimants.

Signed Authority Letter

Required if the claim is filed through an authorised representative.

Effects on Stakeholders
The IEPF Amendment Rules, 2025 make it much easier for investors to claim their unclaimed dividends, shares, and other funds. With the new digital Form IEPF-5, OTP verification, e-signing, and clear documentation requirements, the process is now faster, more secure, and less stressful for claimants. Companies and nodal officers are held more accountable, ensuring smoother and transparent handling of claims. Overall, these changes mean that investors can get their rightful money with less hassle, while the system becomes more reliable, modern, and user-friendly for everyone involved.
Final Word
The IEPFA (Accounting, Audit, Transfer and Refund) Amendment Rules, 2025 mark a significant step towards digitalization, transparency, and efficiency in the process of claiming unclaimed shares, dividends, and other funds. By introducing the revised Form IEPF-5 with OTP-based verification, e-sign functionality, multiple folio management, and clear documentation requirements, the amendment ensures a faster, secure, and user-friendly experience for investors. Companies, banks, and nodal officers are now more accountable, further strengthening trust in the system. Overall, these reforms modernize the IEPF framework, safeguarding investors’ interests while streamlining administrative processes for all stakeholders.

The Ministry of Corporate Affairs (MCA) has issued a new notification on 1 October 2025, introducing the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2025. These rules will take effect from 6 October 2025 and bring important changes to how investors claim unclaimed shares, dividends, and other amounts from the IEPF Authority.

Learn more about Recovery of Shares.

Key Amendment: Introduction of the New Form IEPF-5

The new amendment completely replaces Form IEPF-5, which investors use to claim their unpaid dividends, matured deposits, shares, or other amounts transferred to the IEPF. The updated version of Form IEPF-5 is designed to make the process smoother and more secure for claimants. It now includes digital verification, OTP-based authentication, and transparent document submission. This update not only speeds up claim processing but also ensures greater accuracy, security, and convenience for both investors and companies handling such claims.

Learn more about IEPF-5 Recovery of Unclaimed Shares and Dividends.

Major Changes Introduced in the New Form IEPF-5

Introduction of the “Entitlement Letter”

Claimants must now specify whether an Entitlement Letter has been issued by the concerned company or bank. If yes, a copy of the letter must be uploaded with the form.

Filing Through an Authorised Representative

The form can now be filed either by:

The claimant personally, or
An authorised representative, with a signed authority letter.

This change is especially beneficial for NRIs, senior citizens, or investors who may find it difficult to file claims themselves.

Detailed Applicant Information

Applicants must now provide comprehensive details, including:

Full name, father’s name, and Aadhaar number (for Indian citizens)
PAN, email ID, and mobile number (both verified through OTP)
Passport/OCI/PIO details (for NRIs or foreign applicants)

This stronger identity verification process helps prevent fraudulent or duplicate claims.

Flexible Claim Options

Claimants can now specify whether their claim relates to:

Shares only
Amount only, or
Both shares and amount

This structured approach makes the verification process more efficient for the IEPF Authority.

Digital Verification & E-Sign Integration

The new form enables:

OTP verification for both contact numbers and emails.
PAN verification through the MCA portal.
E-Sign functionality for digital authentication of the claimant’s declaration.

This reduces the need for physical signatures and manual verification delays.

Multiple Folio Management

The form now allows multiple folios for the same company or bank to be added under a single application. (Max. 15 (Entries). Reduces duplication and streamlines the process for shareholders with multiple holdings.

New Legal Declarations

Both claimants and authorised representatives must declare that:

All information provided is true and complete.
No duplicate claim has been made under the same folio or financial year.
The declaration explicitly cites Section 448 of the Companies Act, 2013, warning that:

“Any false statement or concealment of material facts shall be punishable under Section 447 (fraud).”

representative.

Updated Attachment Requirements under the IEPFA Amendment Rules, 2025

Mandatory Attachments	Purpose
Client Master List / Demat Statement	Proof of shareholding and holdings.
Proof of Entitlement	Share certificate, dividend warrant, or entitlement letter issued by the company/bank.
Cancelled Cheque Copy	Bank account verification for refund transfer.
Copy of Aadhaar Card	Identity verification for Indian claimants.
Indemnity Bond (original)	Legal compliance and declaration of claim authenticity.
Death Certificate	Required in case of claims by legal heirs.
Succession Certificate / Will / Probate	For establishing entitlement of legal heirs.
Passport / OCI / PIO Copy	Identity verification for NRIs and foreign claimants.
Signed Authority Letter	Required if the claim is filed through an authorised representative.

Effects on Stakeholders

The IEPF Amendment Rules, 2025 make it much easier for investors to claim their unclaimed dividends, shares, and other funds. With the new digital Form IEPF-5, OTP verification, e-signing, and clear documentation requirements, the process is now faster, more secure, and less stressful for claimants. Companies and nodal officers are held more accountable, ensuring smoother and transparent handling of claims. Overall, these changes mean that investors can get their rightful money with less hassle, while the system becomes more reliable, modern, and user-friendly for everyone involved.

Final Word

The IEPFA (Accounting, Audit, Transfer and Refund) Amendment Rules, 2025 mark a significant step towards digitalization, transparency, and efficiency in the process of claiming unclaimed shares, dividends, and other funds. By introducing the revised Form IEPF-5 with OTP-based verification, e-sign functionality, multiple folio management, and clear documentation requirements, the amendment ensures a faster, secure, and user-friendly experience for investors. Companies, banks, and nodal officers are now more accountable, further strengthening trust in the system. Overall, these reforms modernize the IEPF framework, safeguarding investors’ interests while streamlining administrative processes for all stakeholders.