Transmission of Units

These guidelines were implemented across the mutual fund industry with effect from July 01, 2020.

In accordance with AMFI Best Practice Guidelines Circular No. 135/BP/85/2020-21 dated June 26, 2020, following is the list of standard documents required for transmission under various situations :

  • Deletion of Name of Deceased 2nd or 3rd Jt.Holder Form from surviving unitholder(s) duly filled and signed;
  • 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);
  • MF-Nomination Form in case there is no nomination or a change in existing nomination is desired by the surviving unit holders;
  • KYC Acknowledgment OR KYC Form of the surviving unit holder(s), if not KYC compliant.
  • Transmission of Units - Where the 1st holder is Deceased Form from the surviving unitholder/s duly filled and signed;
  • 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;
  • MF-Nomination Form in case there is no nomination or a change in existing nomination is desired by the surviving unit holders;
  • KYC Acknowledgment OR KYC Form of the surviving unit holder(s), if not KYC compliant.
  • Transmission Request Form for Nominee & Legal Heir from registered nominee(s) duly filled and signed;
  • 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).
  • 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.
  • MF-Nomination Form in case desired by claimant.
  • Transmission Request Form for Nominee & Legal Heir for Nominee & Legal Heir from registered nominee(s) duly filled and signed;
  • 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);
  • Nominee’s signature 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 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;
  • MF-Nomination Form in case desired by claimant.
  • Transmission Request Form for Nominee & Legal Heir from claimant duly filled and signed;
  • Death Certificate of the deceased unitholder (s) in original OR photocopy duly attested by a Notary Public or 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);
  • Claimant signature attested 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;
  • Any appropriate document evidencing relationship of the claimant/s with the deceased unitholder/s;
  • 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 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.
  • Individual Affidavits to be given by each legal heir as per Annexure-III ;
  • NOC from other Legal Heirs as per Annexure-IV , where applicable;
  • MF-Nomination Form Form in case desired by claimant.
  • Transmission Request Form for Nominee & Legal Heir from Claimant duly filled and signed;
  • Death Certificate of the deceased unitholder (s) in original OR photocopy duly attested by a Notary Public or 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;
  • Claimant signature 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;
  • Individual Affidavits to be given by each legal heir as per Annexure-III ;
  • 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.
  • MF-Nomination Form in case desired by claimant.

If the case of a HUF, the property of the HUF is managed by the Karta and the HUF does not come to an end in the event of death of the Karta. In such a case, the members of the HUF will need to appoint a new Karta, who needs to submit following documents for transmission:

  • Transmission Request Form for change of Karta upon demise of the registered Karta duly filled and signed from new Karta;
  • Death Certificate of the deceased Karta in original OR photocopy duly attested by a Notary Public or a Gazette Officer;
  • Bank’s letter certifying that the signature and details of new Karta have been updated in the bank account of the HUF & attesting the Signature of the new Karta as per Annexure-1b;
  • KYC Acknowledgment OR KYC Form of the new Karta and the HUF, if not KYC compliant;
  • Indemnity Bond as per Annexure V signed by all surviving coparceners (including new Karta);
  • If the transmission amount is upto ₹2 Lakh, any appropriate document evidencing relationship of the new Karta and the other coparceners with the deceased Karta;
  • If the transmission amount is more than ₹2 Lakh, any one of the documents mentioned below –
    • Notarized copy of Settlement Deed, or
    • Notarized copy of Deed of Partition, or
    • Notarized copy of Decree of the relevant competent court.
  • MF-Nomination Form in case desired by claimant.
  • Transmission Request Form where HUF is dissolved upon demise of Karta duly filled and signed by Claimant;
  • Death Certificate of the deceased Karta 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(s) / Guardian (in case the Claimant is a minor);
  • KYC Acknowledgment OR KYC Form of the Claimant(s) / 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);
  • Claimant signature attested by Bank Manager as per Annexure-Ia . In case the claimant is a Minor, the signature of the Guardian (as per the Minor’s bank account / Minors joint account with the Guardian) shall be attested;
  • If the HUF has been dissolved/partitioned by the surviving members after demise of the Karta, the transmission of units should be effected only on the basis of any of the following documents:
    • Notarized copy of Settlement Deed, OR
    • Notarized copy of Deed of Partition, OR
    • Notarized copy of Decree of the relevant competent Court.
  • MF-Nomination Form in case desired by claimant.
  • Transmission Request Form where HUF is dissolved upon demise of Karta duly filled and signed by Claimant;
  • Death Certificate of the deceased Karta 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(s) / Guardian (in case the Claimant is a minor);
  • KYC Acknowledgment OR KYC Form of the Claimant(s) / 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);
  • Claimant signature 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;
  • If the HUF has been dissolved/partitioned by the surviving members after demise of the Karta, the transmission of units should be effected only on the basis of any of the following documents:
    • Notarized copy of Settlement Deed, OR
    • Notarized copy of Deed of Partition, OR
    • Notarized copy of Decree of the relevant competent Court.
  • MF-Nomination Form in case desired by claimant.