Procedure to Claim Units / Proceeds upon death of a Unitholder

Transmission of Units is a process whereby units held by a deceased unitholder are transferred either to the nominee or to the legal heirs of the deceased unitholder as the case may be.

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 explained below.

Deletion of names of the deceased unit holders in case of death of 2nd and/or 3rd Holder :

1. Request Form (Form T1) from surviving unitholder(s) requesting for Deletion of Name of Deceased 2nd and/or 3rd Holder.
2. Death Certificate in original or photocopy of the death certificate self-attested and attested by a notary public/gazette officer in original. Fresh Bank Mandate Form along with cancelled cheque of the new bank account (only if there is a change in existing bank mandate)
3. Fresh Nomination Form (or Nomination Opt-out form) in case there is no nomination or a change in existing nomination is desired by the surviving unit holders.
4. KYC Acknowledgment or KYC Form of the surviving unit holder(s), if not KYC compliant. Transmission will be completed only once the status of the KYC is “KYC complied”.

Transmission of Units to surviving unit holder(s) in case of death of the 1st holder :

1. Transmission Request Form (Form T2) for Transmission of Units to the surviving unitholder/s.
2. Death Certificate of the deceased unitholder(s) in original OR photocopy of the death certificate self-attested and attested by a notary public/gazette officer in original Self-attested copy of PAN Card of the Surviving Joint Holder(s) (if PAN is not provided already)
3. 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.
4. KYC Acknowledgment OR KYC Form of the surviving unit holder(s), if not KYC compliant.
5. Transmission will be completed only once the status of the KYC is “KYC complied”.

Transmission of Units to the registered Nominee/s in case of death of Sole or All unitholders:

1. Transmission Request Form (Form T3) for Transmission of Units in favour of the Nominee(s).
2. Death Certificate of the deceased unitholder(s) in original OR photocopy of the death certificate self-attested and attested by a notary public/gazette officer in original Copy of Birth Certificate, in case the Nominee is a minor.
3. Self-attested copy of PAN Card of the Nominee(s) / Guardian (in case the Nominee is a minor)
4. KYC Acknowledgment OR KYC Form of the Nominee(s) / Guardian (where Nominee is a Minor). Transmission will be completed only once the status of the KYC is “KYC complied”. 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).
5. If the transmission amount is upto ₹ 5 Lakh, Nominee’s signature attested by the Bank Manager as per Annexure-I(a). 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.
6. If the transmission amount is for more than ₹ 5 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) with seal and date in the space provided for signature attestation in the TRF itself below the signature of the claimant.
7. Additional documentation required:
8. ID proof [PAN/Redacted Aadhaar/Voter ID / Passport or any other valid OVD as per PMLA guidelines] of the deceased person attested by the claimant(s), duly notarized or originals can be shown at the AMC branches and OSV seal attested by them.

Transmission of Units to the Claimant/s on death of Sole unitholder or All unitholders, where there is NO NOMINATION registered

1. Transmission Request Form (Form T3) for Transmission of Units to the claimant.
2. Death Certificate of the deceased unitholder(s) in original OR photocopy of the death certificate self-attested and attested by a notary public/gazette officer in original copy of Birth Certificate in case the claimant is a minor.
3. Self-attested copy of PAN card of the claimant / guardian (in case the claimant is a minor).
4. KYC Acknowledgment OR KYC Form of the claimant / guardian (in case the claimant is a minor). Transmission will be completed only after the KYC status is updated as “KYC complied”.
5. 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).
6. Additional documentation required:
7. ID proof [PAN/Redacted Aadhaar/Voter ID / Passport or any other valid OVD as per PMLA guidelines] of the deceased person attested by the claimant(s), duly notarized or originals can be shown at the AMC branches and OSV seal attested by them.
1. If the transmission amount is up to ₹ 5 Lakh -
1. Bank Attestation of signature of the claimant by the Bank Manager as per Annexure-I(a). 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.
2. Any appropriate document evidencing relationship of the claimant/s with the deceased unitholder/s.
3. Bond of Indemnity as per Annexure-II  to be furnished by Legal Heirs for Transmission 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 or appropriate Court order 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.
4. Individual Affidavit to be given by each legal heir as per Annexure-III
5. NOC from other legal heirs as per Annexure – IV, where applicable.
2. If the transmission amount is more than ₹5 Lakh –
1. Signature of the claimant duly attested by a Notary Public or a JMFC with seal and date in the space provided for signature attestation in the Form T3 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.
2. Individual affidavits to be given each legal heir as per Annexure-III
1. Where transmission value at the PAN-level is more than ₹5 lakh, but less than ₹10 lakhs, any one of the documents mentioned below:
• Notarised copy of Registered Will along with a Notarized indemnity bond from the claimant (appropriate beneficiary of the will) to whom the securities are to be transmitted, as per the format specified; OR
• Legal Heirship Certificate or its equivalent, along with :
1. a Notarized indemnity bond from the legal heir(s) / claimant(s) to whom the securities are to be transmitted, as per the format specified provided and
2. No Objection Certificate from all the non-claimants (i.e., remaining legal-heirs), duly attested by a Notary Public, JFMC or by a Gazetted Officer as per the format specified .
2. Where transmission value at the PAN-level is more than ₹10 lakhs, any one of the documents mentioned below:
• Notarised copy of Probated Will; OR
• Succession Certificate issued by a competent court, OR
• Letter of Administration or court decree, in case of Intestate Succession.
4. Identity proof (e.g., copy of PAN card, redacted Aadhaar card, passport) of all legal heirs signing the NOC/affidavit other than claimant/s (i.e., legal heirs other than the claimant mentioned in Probate or Letters of Administration or Succession Certificate).

Annexures and Forms

1. Annexure B - Transmission Documents Matrix - Ready Reckoner
2. Form T1 - for Deletion of Name of the deceased 2nd or 3rd Jt. Holder
3. Form T2 - for Transmission of Units - Where the 1st holder is Deceased
4. Form T3 Transmission Request Form for Nominee & Legal Heir
5. Form T4 Transmission Request Form for change of Karta upon demise of the registered Karta
6. Form T5 Transmission Request Form where HUF is dissolved upon demise of Karta
7. Annexure-Ia – Form for Bank Attestation of Signature & bank account details
8. Annexure-Ib – Form for Bank Attestation of Signature of the new Karta
9. Annexure-II - Bond of Indemnity furnished jointly by all Legal Heirs for Transmission without Legal Representation
10. Annexure-III - Individual Affidavits to be given by ALL the Legal Heirs
11. Annexure-IV - NOC from other legal heirs (when there is no
12. Annexure-V - Indemnity from coparceners for change of Karta
13. Annexure-VI - Bond of Indemnity by surviving member of dissolved HUF