Procedure for Transmission - Change in Guardian due to demise of Existing Guardian

In case there is a change in the guardian, the new guardian will have to provide various documents prior to registering, including KYC and bank attestation of his signature of a bank account where he is the registered guardian.

When there is a change in guardian due demise of existing guardian, the following documents should be submitted for registering the new guardian:


1. Request letter from the new guardian

2. Death Certificate of the deceased guardian
Notarized copy or attested copy of the Death Certificate of the deceased guardian, where applicable. The attestation may also be dome by a special executive magistrate, AMC authorised official or manager of a scheduled bank.

3. Bank attestation 
Bank attesting the signature of the new guardian in a bank account of the minor where the new guardian is registered as the guardian.

4. KYC of new Guardian

5.  Proof of Guardianship

The new guardian must be a natural guardian (i.e. father or mother) or a court appointed legal guardian.

AMCs shall mandatorily obtain information on the relationship/status of the guardian as father, mother or legal guardian in the application form.

In case of natural guardian, AMC shall obtain a document evidencing the relationship if the same is not available as part of the documents submitted as per 2.3 below.

•  Date of birth of the minor along with photocopy of supporting documents as enumerated below shall be mandatory while opening the account on behalf of minor
• Birth certificate of the minor, or  School leaving certificate / Mark sheet issued by Higher Secondary Board of respective states, ICSE, CBSE etc., or
• Passport of the minor, or
•  Any other suitable proof evidencing the date of birth of the minor.

  In case of court appointed legal guardian, supporting documentary evidence shall be obtained.

Also refer

Procedure for change in status from minor to major (in mutual fund investment)

Formats:

1. Request Letter (link of Reguest Form in Image File)

***In order to check original Size of image, first click on image and then right click to the view the image of original size...

 

2. Bank attestation letter format (link of Bank attestation format)

 ***In order to check original Size of image, first click on image and then right click on view the image of original size...

 

Link of bank attestation in word document

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: