TRANSMISSION-MUTUAL FUND

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TRANSMISSION-MUTUAL FUND

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PROCEDURE FOR TRANSMISSION OF UNITS ON DEATH OF A UNITHOLDER

The detailed guidelines for Transmission of Units under various situations / scenarios and the forms/formats and supporting documents to be submitted by the claimants under each scenario is provided below.

1.  DELETION OF NAMES OF THE DECEASED UNIT HOLDERS IN CASE OF DEATH OF 2ND AND/OR 3RD HOLDER :

  •  Request Form (Download Form T1) from surviving unitholder(s) requesting for Deletion of Name of   Deceased 2nd and/or 3rd Holder.
  •  Death Certificate in original or photocopy duly attested by a Notary Public or a Gazetted Officer.
  •  Fresh Bank Mandate Form along with cancelled cheque of the new bank account (only if there is a   change in existing bank mandate)
  •  Fresh Nomination Form(Download) in case there is no nomination or a change in existing   nomination is desired by the surviving unit holders.
Click Here For Full Process Of Nomination.
  •  KYC Acknowledgment(Know More) OR KYC Form of the surviving unit holder(s), if not KYC     compliant.

2.  TRANSMISSION OF UNITS TO SURVIVING UNIT HOLDER(S) IN CASE OF DEATH OF THE 1ST HOLDER :

  • Transmission Request Form (Download Form T2) for Transmission of Units to the surviving unitholder/s.
  • Death Certificate of the deceased unitholder(s) in original OR photocopy duly attested by a Notary Public or a Gazetted Officer.
  • Copy of PAN Card of the Surviving Joint Holder(s) (if PAN is not provided already)
  • Cancelled cheque of the new first unitholder, with the claimant’s name pre-printed OR Recent Bank Statement/Passbook (not more than 3 months old) of the new first holder.
  • KYC Acknowledgment OR KYC Form of the surviving unit holder(s), if not KYC compliant.

3.  TRANSMISSION OF UNITS TO THE REGISTERED NOMINEE/S IN CASE OF DEATH OF SOLE OR ALL UNITHOLDERS:

  • Transmission Request Form (Download Form T3) for Transmission of Units in favour of the Nominee(s).
  • Death Certificate of the deceased unitholder(s) in original OR photocopy duly attested by a Notary Public or a Gazetted Officer.
  • Copy of Birth Certificate, in case the Nominee is a minor.
  • Copy of PAN Card of the Nominee(s) / Guardian (in case the Nominee is a minor)
  • KYC Acknowledgment OR KYC Form of the Nominee(s) / Guardian (where Nominee is a Minor)
  • Cancelled cheque with the Nominee’s name pre-printed OR Copy of the Nominee’s recent Bank Statement/Passbook (which is not more than 3 months old).
  • If the transmission amount is upto ₹2 Lakh, Nominee’s signature attested by the Bank Manager as per Annexure-Ia. In case the Nominee is a Minor, signature of the Guardian (as per the bank account of the Minor or the joint account of the Minor with the Guardian) shall be attested. If the transmission amount is for more than ₹2 Lakh, as an operational risk mitigation measure, signature of the Nominee shall be attested by a Notary Public or a Judicial Magistrate First Class (JMFC) in the space provided for signature attestation in the TRF itself below the signature of the claimant.

4  TRANSMISSION OF UNITS TO THE CLAIMANT/S ON DEATH OF SOLE UNITHOLDER OR ALL UNITHOLDERS, WHERE THERE IS NO NOMINATION REGISTERED

  • Transmission Request Form (Download Form T3) for Transmission of Units to the Claimant
  • Death Certificate of the deceased unitholder(s) in original OR photocopy duly attested by a Notary Public or a Gazette Officer.,
  • Copy of Birth Certificate in case the Claimant is a minor.
  • Copy of PAN Card of the Claimant / Guardian (in case the Claimant is a minor).
  • KYC Acknowledgment OR KYC Form of the Claimant / Guardian (in case the Claimant is a Minor)
  • Cancelled cheque with the claimant’s name pre-printed OR Copy of the Claimant’s recent Bank Statement/Passbook (which is not more than 3 months old). If the transmission amount is up to ₹2 Lakh –

A.Bank Attestation of signature of the Claimant by the Bank Manager as per Annexure-Ia.                              In case the Claimant is a Minor, the signature of the Guardian (as per the bank account                                of the Minor or the joint account of the Minor with the Guardian) shall be attested.

B.Any appropriate document evidencing relationship of the claimant/s with the deceased                              unitholder/s.

C.Bond of Indemnity – as per Annexure-II  to be furnished by Legal Heirs for                                                 Transamission of Units without production of Legal Representation. Provided that in                                   case the legal heir(s)/claimant(s) is submitting the Succession Certificate or Probate of                                 Will or Letter of Administration wherein the claimant is named as a beneficiary, an                                       affidavit as per Annexure-III from such legal heir/claimant(s) alone would be sufficient;                                 i.e., Bond of Indemnity is not required.

D. Individual Affidavits to be given by each legal heir as per Annexure-III

E. NOC from other Legal Heirs as per Annexure – IV, where applicable.

If the transmission amount is more than ₹2 Lakh –

A. Signature of the Claimant duly attested by a Notary Public or a Judicial Magistrate First                               Class (JMFC) in the space provided for signature attestation in the TRF itself below the                                 signature of the claimant. In case the Claimant is a Minor, the signature of the Guardian                              (as per the bank account of the Minor or the joint account of the Minor with the                                          Guardian) shall be attested.

B. Individual Affidavits to be given each legal heir as per Annexure-III 

C. Any one of the documents mentioned below:

1 Notarised copy of Probated Will; OR

2. Succession Certificate issued by a competent court; OR

3  Letter of Administration or court decree, in case of Intestate Succession.

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