Personal Finance Blog India –

Name Change In Mutual Funds:

//post based on email query.

Name whether in full or partial can be changed any time in life time.There are different reasons for name change like marriage or few people don’t like their name/surname & so they change their name.  If you are such mutual fund investor then under some circumstances its important to inform mutual funds about name change and make the updates to avoid future consequences.

  • If you have updated name in bank accounts: If you have updated name in bank account then there will be discrepancy in names and it will affect the transactions like processing redemption or dividends.So if unit holder have updates its name across all bank accounts then he/she need to update in mutual fund records also.
  • If investor have access to any bank account with old name then it won’t be necessary to update name in mutual funds.Just take care that this bank account is linked to mutual fund account and you are going to keep this account alive.
  • If unit holder have updated name on Pan Card then unit holder need to update same in mutual fund folios.

Documents required to change name:

  1. Name change request form:Name change request form in prescribed format.This form is available at mutual fund website / Karvy/CAMS website.
  2. Indemnity bond : Indemnity bond from unit holder seeking a name change on the stamp paper of Rs.100/- indemnifying mutual fund trustees / AMC from other claims.
  3. Copy of Gazetted notification: copy of Gazette notification indicating unit holders name / photograph.This copy need to be attested from the approved authority.
  4. Marriage certificate:Copy of Marriage certificate only if name is changed after marriage.

Investors need to submit these documents at respective mutual fund offices or at registrar offices.

Investor need to understand that Error in name and Change in name both are two different things.Error in name may involve some entry mistake from mutual funds or by investor..such corrections can be easily made by submitting the simple request form along with some supporting document like pan card.

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