Many Non-Resident Indians (NRIs) hold Indian shares that they purchased years ago, or which were invested in their name by a family member. But the problem arises when those shares become inactive, i.e. if no dividend is claimed for 7 years, then they automatically get transferred to the investor education and protection fund (IEPF).
Then, when you hear the name of any company like Reliance, Siemens, or Tata Steel, it strikes the mind. “Wait, I had bought or inherited their shares. “But it is not visible in the depository. What to do?
This is where the IEPF share recovery process comes in, especially for NRIs. Although a bit lengthy, it’s possible if you’re familiar with the correct IEPF claim procedure, the relevant document list, and the follow-up strategy.
In this blog, you will find:
- Step-by-step recovery process
- NRI-specific tips and problems
- Real-life example
- FAQs and Common Mistakes
- Expert advice and bonus tips
Let’s start!
Who is an NRI?
NRI means Non-Resident Indian. This term is used for Indians who live outside India. In simple words, if any Indian citizen or person of Indian origin stays in India for less than 183 days in any financial year, then he is considered an NRI (as per Income Tax rules).
There are some more breakdowns:
- They are Indian passport holders, but stay permanently or for the long term in a foreign country due to a job, business or studies. These people are called NRIs.
- PIOs (persons of Indian Origin) and OCIs (Overseas Citizens of India) are also counted in the NRI category when it comes to financial or investment matters.
Common Examples:
- You are working in Dubai and spend most of the year there; you are an NRI.
- Your son has been settled in the US for 4 years, and he is an NRI.
- Your cousin is pursuing an MBA in Canada and visits India only during holidays; she is also an NRI.
Why do NRIs’ shares go to IEPF?
IEPF is a statutory body that transfers share whose dividends have remained unclaimed for 7 years.
Reason for NRIs:
- Dividends are coming to an Indian address, but no one claims them
- Physical shares are held with a family member, and a demat transfer does not happen
- Mobile number is inactive, OTP is not received
- The bank account is closed, and the dividend is returned
- Ownership or nominee is not known
If you or your father/grandfather holds shares in companies like Reliance, Siemens, Tata, HUL, or Infosys in their name but they are missing from the demat or folio, you can approach IEPF.
IEPF Share Recovery Process for NRIs (Step-by-Step)
IEPF Share recovery process is a little complex for anyone, but even more so for NRIs, because:
- Documents cannot be notarized from India
- Foreign address proof has to be provided
- Communication is time-consuming
Let’s step-by-step now:
Step 1. Check Shares from the IEPF Website or the company RTA
- First, confirm whether the shares have been added to the IEPF.
- Go to the IEPF site and use the “search for unclaimed shares” tool.
Alternatively, you can directly contact the company’s RTA (Registrar and Transfer Agent), such as KFintech, Link Intime, or Bigshare.
Step 2. Required Documents (Specific for NRI Applicants)
| Document Type | Details |
| ID Proof | Passport Copy (self-attested) |
| Residential Proof | Recent utility bill/driving licence from a foreign country/your residing country |
| OCI/PIO | If applicable |
| Bank Details | Indian bank NRE/NRO account’s cancelled cheque + statement |
| Demat Proof | CML (Client Master List) from the broker |
| Proof of Shareholding | Physical share certificate copy (if available), old dividend warrant |
| Affidavit + Indemnity Bond | Notarised in your country or the Indian embassy |
Tip: Notary services are easily available for those in the UAE, UK, US, and Canada, or you can arrange them through the consultant.
Step 3. Fill IEPF-5 Online Form
- Website: www.iepf.gov.in
- IEPF-5 is an online form that requires you to fill out your shares, dividend amount, folio number, and RTA details. While filling the form:
- Email + Indian mobile number is mandatory (for OTP)
- The company’s CIN number and shareholding details should be correct.
- OTP does not come on foreign numbers; use the Indian number of a trusted relative.
Step 4. Courier Physical Document to the Company
- After filling the form, an SRN (Service Request Number) is generated. After that, you have to:
- Take a printout of IEPF-5
- Attach all documents (notarised affidavit, indemnity bond, ID proofs/ Registered Post
Sample address:
To,
The Nodal Officer – Siemens Limited
Kfin Technology Ltd, Hyderabad
(PIN, India)
Step 5. Verification and Share Transfer
- The company verifies your claims within 30-45 days and sends them to the IEPF Authority
- IEPF further checks and transfers the shares to your demat account
- Unclaimed dividend also comes to your NRE/NRO bank account
- Check the status regularly by the SRN number stay
Real Story (US-Based NRI)
Neha Rathore,a software engineer living in New Jersey, USA, one day realized that her grandfather had transferred Reliance shares in her name. When she checked the demat, the shares were not there.
She discovered that those shares had been transferred to IEPF due to the dividend not being claimed for 7 years. Neha did not have an Indian SIM, and the documents were scattered.
She contacted Investorlink, who guided her step-by-step, prepared the documents, arranged for OTP, and filed the form.
In just 5 months, the shares were returned to demat, and a dividend of more than Rs. 25,000 also came into her NRO account.
Just like Neha, you too can recover your shares from anywhere in the world, with Investorlink.
Common Problems and Tips for NRI Claimants
Whenever NRIs go to recover their old shares or dividends from IEPF, they have to face some common challenges. Below, we have given real-life problems and their practical solutions in a very simple style:
Problem 1: The Document is incomplete or unverified. Often, applications from NRIs are rejected due to incomplete or improperly verified documents.
Solution: Make your affidavit on a stamp paper of Rs. 100 or more.
- Get it signed and attested by the Indian embassy/Consulate (if in a foreign country) or the local Notary Public there.
- If power of attorney is given to someone in India, then that too should be duly notarized.
Tip: Check the website of the Indian Consulate; standard formats of affidavit are available there.
Problem 2: OTP Issue during filling. While filing an IEPF claim, OTP comes only on an Indian number. If you don’t have an Indian SIM or it is not activated abroad, an OTP issue arises.
Solution: Arrange a temporary Indian number by using the number of a trusted relative or friend.
- Please inform them that the OTP will be sent at the time of filing; be ready.
- When verifying OTP after filling out the form, try to submit everything at once to avoid needing to enter the OTP repeatedly.
Tips:
- Send documents in a clear scan; blurry or cut documents get rejected.
- Don’t forget to give a self-attested copy of all documents.
- If you are claiming on behalf of a family member (like father/mother or spouse), keep their death certificate, legal heir certificate or succession certificate ready.
- Track your claim status on the MCA portal to see the current stage of your file.
Investorlink’s Role for NRI Shareholder
If you have:
- Documents are not ready
- Do not have time to follow the process,
- Or there is confusion in your case (inheritance, joint accounts, etc.)
Then Investorlink NRI share recovery services can handle your full end-to-end work.
- Document drafting
- Affidavit/indemnity bond formatting
- Filing IEPF-5
- Nodal officer coordination
- Demat setup assistance
Talk to our IEPF Expert Now.
To Wrap Up
If you are an NRI and shares were ever purchased in your or your family’s name in India, but now they have been transferred to the EPF, then there is absolutely no need to worry. This is not a permanent loss, but rather an opportunity to get back your forgotten financial assets. All you need is a little patience, proper documentation and correct guidance.
Whether you are in the US, UK, UAE or any other country, Investorlink makes your entire IEPF claim process smooth and error-free. You just need to do three things:
- Check the status of your shares by visiting the IEPF portal.
- Keep a list of the required documents ready
- Let Investorlink handle everything else
Their legal and documentation team is an expert in NRI cases, be it OTP issues, address mismatches, or missing physical share certificates. So, don’t let your hard-earned family investment go to waste; take charge and reclaim what’s yours with the help of Investorlink today.
FAQs
Yes. While the IEPF Authority mandates a foreign address for NRIs as part of their application, providing an Indian communication address is optional. This Indian address can be useful for receiving correspondence, notices, or physical documents related to the recovery process. However, the official records must still reflect your foreign residential address to comply with NRI verification norms.
Yes. If the shares are in physical certificate form, recovery is possible. You will need to submit the original share certificate to the company’s nodal officer. In cases where the original is lost or damaged, you must obtain a duplicate share certificate from the company after completing their due formalities (such as submitting an indemnity bond and FIR copy, if applicable). Only after this step can the IEPF claim process be initiated
Yes. An NRI can claim shares as a legal heir of a deceased shareholder. The claimant must provide the death certificate of the shareholder, a will (if available) or succession certificate/probate of will be issued by a competent court, and identity/address proof of the legal heir. Additional documents like a No Objection Certificate (NOC) from other legal heirs may also be required by the company or IEPF Authority.
The recovery process generally takes 3 to 9 months. The timeline largely depends on the company’s nodal officer verifying the claim and forwarding it to the IEPF Authority. Delays can occur if documents are incomplete, verification requires clarification, or the company takes longer to respond. Following up with the nodal officer can sometimes speed up the process.
Yes. Along with the recovered shares, all unclaimed dividends associated with those shares (transferred to the IEPF over the years) will also be released to you. The dividend amount will be directly credited to your Indian bank account as per the details provided in your claim application. Ensure your bank account is active and linked with your PAN for seamless credit.