My family member has passed away and I'm the nominee, how do I transfer the mutual fund units to my account?

This guide outlines the step-by-step procedure to be followed when a registered nominee wishes to claim the mutual fund holdings of a deceased investor.

Phase 1: Initial Intimation and Account Blocking

To initiate the process, the nominee must first provide proof of the investor’s demise. Once these initial documents are verified via mail, we will proceed to block the deceased investor’s account to prevent any further transactions and secure the portfolio.

Initial Documents Required:

• Death Certificate: A copy of the death certificate with official notarisation.

• Deceased Investor's PAN Card: A copy self-attested by the nominee.

• Nominee’s PAN Card: A self-attested copy of the nominee’s PAN.

• Nominee’s Aadhar: self attested one

Important Regulatory Note (SEBI Guidelines)

As per SEBI circulars, the Service Request Intermediary (SRI) is required to raise a KYC modification request to the KRA (KYC Registration Agency) immediately upon reporting the death of an investor.

Once processed, the deceased investor's KYC status will be updated to “KYC Deactivated” across all platforms.

Phase 2: Detailed Documentation for Transmission (Each AMC requires separate documentation)

After the account is blocked, the nominee must submit the following comprehensive set of documents to facilitate the actual transfer of units.

Standard Forms & Identification:

• T3 Form:  A separate T3 form is required for each AMC (Asset Management Company) where the deceased held investments. If the folio balance is more than 5 Lakhs, we need notarised T3 form.

• Copy of Death Certificate: With notary seal and nominee's attestation.

• Copy of Birth Certificate: Mandatory only if the nominee is a minor.

• Deceased Person’s PAN: Copy must include the nominee’s signature and a Notary seal.

• Nominee’s PAN Card: self-attested copy.

• Cancelled Cheque: Must clearly show the nominee’s name.(Each AMC should have one original copy), or a self attested bank statement along with a banker attestation, name, designation, and employee code.

• Banker's Signature Verification Letter: This must be on the bank’s official letterhead and include the Banker’s attestation, name, designation, and employee code.

• Claimant’s Nominee Form: As per current regulations, providing a nominee for the claimant is now compulsory.