Claim
documents for MF Units
One of my friends Mr Gupta passed away last month. He has left one
daughter and wife behind him. He had purchased some mutual fund units for
investment purpose. His family does not know the procedure how to claim the
mutual fund units after the death of mutual fund unit holder. It is the common
problem which may be faced by anyone from the unit holder’s family. Today I
will mention here what documents needed for claim the mutual fund unit in case
of unit holder’s death.
·
Request
letter for transmission of the units from the nominee.
·
Death
certificate in original or photocopy duly notarized or attested by gazette
officer or bank manager.
·
Bank
account details of nominee with attestation by a branch bank manager or
cancelled cheque or bank statement bearing the account details with account
holder name.
·
KYC
of the nominee
·
Indemnity
signed and executed by the nominee in the specified format, if the value of
units are equal or more than threshold limit as determined by the mutual fund
AMCs. ( At present the threshold limit is Rs 5 lakh per investor).
·
PAN
card id is compulsory for mutual fund KYC.
Some cases where PAN card is not compulsory for KYC. It is as given
below:
·
Investor
resides in the state of Sikkim.
·
SIP
where aggregator of installments in a rolling 12 month period or in a financial
year does not exceed Rs 50,000.
·
In
case of transaction undertaken on behalf of central or state government and
official appointed by courts.
·
UN
entities/ multilateral agencies exempt from paying taxes/ filing tax returns in
India.
If you want more information
regarding investment or you need investment services, feel free to ask us. We
also conduct the seminar on investment and financial planning. If you are
interested for seminar in your city just drop the mail.
Warm regards,
Arvind Trivedi
Certified Financial Planner
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