Wednesday, June 15, 2011

Documents required in case of death of the first unit holder (Transmission of mutual fund units)



Investment in a mutual fund can be made in a single name or in a joint mode with three people. The mode of holding can be anyone/survivor or joint.

In case of the demise of one of the unit holders, the following situations may arise. Here is how you can tackle them:

Documents required in case of death of the single holder without nominee are mentioned below :
  • Copy of Legal Heir Certificate (duly attested). Tahsildar or Revenue Officer should issue this legal heir certificate OR Succession Certificate OR Court order/ Probate duly attested by a Notary.
  • No Objection Letter from other legal heirs (duly attested)
  • Letter from the nominee
  • Copy of Death Certificate (duly attested)
  • Signature of the claimant (who is requesting for redemption),duly attested by the banker along with the bank details
  • Indemnity on Rs.20 stamp paper
Documents required in case of death of one or more unit holders:

  • Letter from surviving unit holders to the AMC/ Mutual Fund requesting for transmission of units,
  • Death Certificate in original or photocopy duly notarized or attested by gazette officer or a bank manager*,
  • Bank Account Details of the new first unit holder as per specified format along with attestation by a bank branch manager* or cancelled cheque or bank statement bearing the account details and account holders name.
  • KYC of the surviving unit holders, if not already available.
Documents required for Transmission in case of Single holding or on death of all units holders and Nominee is available (registered in mutual fund records) 




Death Certificate/s in original or photocopy duly notarized or attested by gazette officer or a bank manager*,

Bank Account Details of the new first unit holder as per specified format along with attestation by a bank branch manager* or cancelled cheque or bank statement bearing the account details and account holders name.

Indemnity duly signed and executed by the nominee(s) in the specified format, if the transmission amount is equal to or more than the Threshold Limit as determined by the AMC/ Mutual Fund. (Currently the "Threshold Limit" is Rs. Five lakhs per investor/PAN).


Documents required: (format)
Click here for Format for banker's attestation of bank details of nominee

Click here for Indemnity format where nominee is registered
Click here for Legal heir affidavit


Complete set of forms
Forms:











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