My family member has passed away and there is no nominee registered, how do I transfer the mutual fund units to my account?

This guide outlines the step-by-step procedure and documentation required for transferring mutual fund units when a deceased investor has not registered a nominee.

Turnaround Time (TAT): 30-40 working days from the receipt of complete and correct documentation.

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 notarization.

• 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

Upon receiving the initial notification and transmission documents via a support ticket, the Service Request Intermediary (SRI) will immediately report the investor's demise.

• Regulatory Action: As per SEBI circulars, a KYC modification request will be raised to the KRA (KYC Registration Agency).

• Account Status: The deceased investor’s KYC status will be updated to “KYC Deactivated”, freezing the account across all mutual funds to secure the portfolio.

Phase 2: Core Documentation Required (Each AMC requires separate documentation)

To process the transmission, the nominee must submit the following foundational documents:

• Due Diligence Form: Filled out completely as per the prescribed format.

• T3 Form: A separate T3 form must be filled out for each individual AMC where the deceased held investments.

  • Note: If the investment value within an AMC exceeds ₹5 Lakhs, a Notary Seal is mandatory on that T3 form.

• Death Certificate: A copy featuring both a Notary seal and the nominee’s attestation.

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

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

• Relationship Proof: Official documentation establishing the nominee's relationship to the deceased person. 

• Banker's Signature Verification Letter: Must be issued on the bank’s official letterhead following the prescribed format.

• Nominee Bank Proof: A cancelled cheque copy or a self-attested bank statement. This document must display the nominee's name along with the Bank Seal, Banker’s name, designation, and employee code.

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

• Indemnity Bond : An Indemnity Bond signed by all legal heirs confirming the nominees 

• NOC: NOC signed by all legal heirs 

• A Probated Will, a Succession Certificate, or a Letter of Administration / Court Decree bearing the official court seal must be submitted to prove the rightful share of wealth.

• Individual affidavit : An individual, separate affidavit is required from every single legal heir. These must be duly notarized and executed on stamp papers. The stamp paper value varies significantly by AMC. (Each legal heir need to provide separate copy each AMC)

3. AMC Stamp Paper Value Matrix

The financial values for the Indemnity Bond (Annexure II) and Individual Affidavits (Annexure III) differ by fund house as detailed below:

(For any AMCs not listed above, standard base values apply, but they should be verified case-by-case as requirements may vary).