Transmission Process

Which forms need to be filled for deletion of deceased unitholders name in case of death of 2nd and/or 3rd holder?

The following forms need to be filled out -

• Request Form (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 a cancelled cheque of the new bank account (only if there is a change in existing bank mandate)

• Fresh 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

Which forms need to be filled for the transmission of units to the second/joint holder?

The following forms need to be filled out -

• Transmission Request Form (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

Which forms need to be filed in case of transmission of units to registered nominees/in case of death of sole or all joint holders?

The following forms need to be filled out -

• Transmission Request Form (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 up to ₹2 Lakh, Nominee’s signature is 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 more than ₹2 Lakh, as an operational risk mitigation measure, the 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

Which forms need to be filled in case of transmission of units to claimants on the death of the sole unitholder or all joint holders where the nominee is not registered?

The following forms need to be filled out -

• Transmission Request Form (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 –

              - 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

              - Any appropriate document evidencing the 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

• If the transmission amount is more than ₹2 Lakh –
        - 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.

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

               - Any one of the documents mentioned below:

                     - A notarized copy of Probated Will; OR

                     - Succession Certificate issued by a competent court; OR

                     - Letter of Administration or court decree, in case of Intestate Succession

Which forms need to be filled in case of the death of Karta of HUF?

The following forms need to be filled out -

• Request Form (Form T4) for change of Karta upon the demise of the registered 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 the 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 up to ₹2 Lakh, any appropriate document evidencing the 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
  
  

Which forms need to be filled in case of transmission to claimants on the death of Karta of HUF where there are no surviving coparcener or HUF is dissolved or HUF is dissolved/ partitioned after the death of Karta?

The following forms need to be filled out -

• Transmission Request Form (Form T5) for Transmission of Units to the 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)

• If the transmission amount is up to ₹2 Lakh, attestation of signature of the claimant 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/Minor joint account with the Guardian) shall be attested
  If the transmission amount is for more than ₹2 Lakh, the signature of the claimant 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

• Bond of Indemnity to be furnished by the Claimant as per Annexure-VI

• If the HUF has been dissolved/partitioned by the surviving members after the 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

How many days do I need to wait to redeem the units post-transmission?

The transmission process generally takes 7-10 business days. Once the documents are in order, a new folio will be created wherein, the deceased investor’s units will be transferred. Post this process you can redeem the units. 

Do I need to submit a fresh bank mandate in case of transmission?

Yes. It is necessary to register a bank mandate in the name of the claimant.