Definition of 'Declaration' in 'Nomination and Declaration'
In the context of “Nomination and Declaration”, a Declaration is an official statement provided by the account holder confirming that they do not wish to add a nominee to their Demat account.
This option allows investors to opt out of the nomination process, which otherwise is mandatory to complete as per SEBI’s regulations. While clients can choose to submit a declaration, it is strongly advised to appoint a nominee for smoother transfer of assets in case of unforeseen circumstances.
SEBI mandates that every Demat account must have either a nominee or a declaration.
What if...
| Scenario | Outcome |
|---|
| I provide a declaration instead of a nominee | Your account will stay active, but you are marked as opted out. You can add a nominee later if you wish. |
| I want to add a nominee later | Log in to FYERS Web/App, update nomination details, and withdraw the earlier declaration. For the process, refer to this article. |
| My nominee is a minor | Provide guardian details and supporting documents while updating nomination. Learn more here: Nominee update guide. |
| I don’t submit anything | Please complete either nomination or declaration to proceed. Use this guide to add a nominee. |
Opting for a declaration is legally valid, but adding a nominee is strongly recommended to ensure smooth transmission of your investments.
Last updated: 27 Aug 2025
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