Stox N Tax

Unclaimed Fixed Deposits & Dividends – How to Reclaim Forgotten Investments in 2025

Table of Contents

  1. Introduction
  2. What Are Unclaimed Investments?
  3. What Happens to Unclaimed FDs & Dividends?
  4. What Is the DEA Fund?
  5. How to Check If You Have Unclaimed Funds
  6. Step-by-Step Reclaim Process
  7. Required Documents
  8. Is the Income Taxable When You Reclaim?
  9. Tips to Avoid Future Unclaimed Assets
  10. FAQs

1. Introduction

Did your grandfather or parents ever invest in shares or open a fixed deposit you forgot about?

As of 2024, more than ₹42,000 crore lies unclaimed in banks, mutual funds, and corporates. If you or your family members had investments that went unnoticed, you can reclaim them, even if they’re decades old.

This guide explains how to reclaim unclaimed FDs, dividends, and shares that are either with the bank, the company, or have been transferred to the Investor Education and Protection Fund (IEPF).

2. What Are Unclaimed Investments?

An investment is considered unclaimed if:

  • A bank account or FD is not operated for 10 years.
  • A dividend is declared but not encashed for 7 consecutive years.
  • Shares associated with such dividends also become unclaimed.

Unclaimed funds eventually get transferred to the DEA Fund (banks) or IEPF (for listed companies).

3. What Happens to Unclaimed FDs & Dividends?

TypeWhere it Goes After Dormancy
Bank FDs/Savings A/cDepositor Education & Awareness (DEA) Fund (RBI)
Listed Company DividendsInvestor Education and Protection Fund (IEPF)
Mutual FundsAMC Suspense Account, then IEPF

However, these are not lost permanently. You can reclaim them, subject to documentation.

4. What Is the DEA Fund?

  • Managed by the RBI
  • Contains unclaimed deposits of 10+ years
  • Banks are required to submit data every month
  • RBI has launched a Unified Portal for searching such deposits
    ➤ https://udgams.rbi.org.in

5. How to Check If You Have Unclaimed Funds

For Bank Accounts & FDs:

  1. Visit https://udgams.rbi.org.in
  2. Enter your name, mobile number, and choose banks
  3. Verify with OTP
  4. Results will show dormant accounts and unclaimed deposits

For Dividends & Shares:

  1. Visit the IEPF website: https://www.iepf.gov.in
  2. Use the “Search Unclaimed Dividends and Shares” option
  3. Enter your Investor Name / Folio / DP ID
  4. It will show unclaimed dividend and share data

6. Step-by-Step Reclaim Process

A. Reclaiming Bank FDs (DEA Fund):

  1. Download the claim form from the concerned bank’s website
  2. Visit your branch with:
    • ID proof (Aadhaar/PAN)
    • Old passbook/FD receipt (if any)
  3. Fill a claim request for amount transfer
  4. The bank verifies and processes refund from DEA

B. Reclaiming Dividends or Shares (IEPF Process):

  1. Download Form IEPF-5 from www.iepf.gov.in
  2. Fill details of:
    • Investor
    • Company
    • Amount/dividend year
  3. Submit IEPF-5 online
  4. Send print + docs to company’s Nodal Officer
  5. Company verifies & sends it to IEPF
  6. IEPF processes the refund to your bank account

7. Required Documents

  • PAN, Aadhaar
  • Old share certificates / folio numbers
  • Bank statements (if FD)
  • Death certificate & legal heir affidavit (if claiming for others)
  • Cancelled cheque of your bank account

Pro Tip: Even if you don’t have physical certificates, Demat records or NSDL/CDSL statements may help trace your claim.

8. Is the Income Taxable When You Reclaim?

Yes, in many cases:

  • Interest on FDs reclaimed from DEA is taxable in the year you receive it.
  • Unclaimed dividends are taxable under “Income from Other Sources”.
  • However, if TDS was already deducted earlier, you can claim it using old Form 26AS.

9. Tips to Avoid Future Unclaimed Assets

  • Link all investments with your PAN & Aadhaar
  • Nominate family members in every bank/demat account
  • Use a single KYC record across mutual funds
  • Keep a digital tracker of all investments
  • Educate your family about where to find your records

10. FAQs

Q1. Can I claim FD if I don’t have the receipt anymore?
Yes. If your PAN/Aadhaar matches the bank’s KYC, they may trace it internally.

Q2. What if the investor has passed away?
Legal heirs can claim by submitting a death certificate, ID proof, and succession affidavit.

Q3. Is there a time limit to reclaim from IEPF?
No time limit for filing Form IEPF-5, but the process is stricter after many years.

Q4. Can I claim mutual fund dividends too?
Yes, if they are unpaid for 7 years, they’re transferred to IEPF — you can file a claim through the AMC or RTA.

Q5. What if the shares were dematerialized?
You need to quote your DP ID & Client ID to trace the shares. Even demat shares can be reclaimed via IEPF.

Leave a comment

Timeline of events