SEBI Simplifies Mutual Fund Transmission Process for Nominees and Joint Holders

The Securities and Exchange Board of India (SEBI), in coordination with the mutual fund industry, has introduced a streamlined framework for transferring mutual fund units following the death of an investor.

Under the simplified process, asset management companies will consider the claimant’s latest address based on valid supporting documents. The standardised framework also provides a uniform mechanism for handling differences in names and signatures appearing across records.

Surviving joint holders and registered nominees will generally be required to submit the investor’s death certificate along with their bank account details to initiate the transmission claim.

Depending on the nature and documentation of the claim, the transmission process is expected to be completed within five to fifteen working days. The revised procedure is intended to reduce documentation-related difficulties and facilitate faster settlement of legitimate claims. CA Sansaar