How can a nominee claim shares after the death of the account holder?
To claim shares from a FYERS account after the account holder's death, follow these steps:
Annexure 1 to inform FYERS about the death of the account holder. Fill in the Form with the Following Details:
Name, DP ID, and Client ID of the nominee/successor.
Sign the document under the First/Sole holder section.
Attach the Following Documents:
Original Death Certificate or a notarized/attested copy
PAN or any other valid ID proof of the deceased attested by the notifier
Self-attested PAN of the nominee/successor
A personalized cancelled cheque or a bank statement/passbook not older than three months of the nominee/successor
CMR hard copy of the nominee(s) with DP seal and signature (If the nominee has an account with FYERS, then a CMR is not required)
Submit the Completed Form and Documents to FYERS Securities Pvt. Ltd. at the Following Address:
FYERS Securities Pvt. Ltd.
901-902 9th Floor A-Wing Brigade Magnum,
Amruthahalli Kodigehalli Gate,
Hebbal, Bangalore - 560092
Verification and Way Forward:
We will verify the death certificate within one working day of receipt.
Once the death certificate is verified, FYERS will:
Submit a KYC modification request to the KRA indicating the death of the investor.
Block all debit transactions in the deceased investor’s account.
Inform the nominee about the transmission procedure and provide the necessary forms and list of required documents within five days.
Additional Points:
Lock-in shares will only be moved to the successor or the nominee’s demat accounts.
The credit fund balance of the deceased will be transferred to the successor or nominee’s bank account mentioned in the CMR.
If the deceased has a debit balance, the successor/nominee must provide a cheque in the name of FYERS Securities Pvt. Ltd.
If there is a name mismatch between the deceased's records and the death certificate, or between the nominee's records and their demat account, provide a notarised affidavit on stamp paper.
If the nominee/successor/legal heir is a minor, provide a guardian certificate to consider the guardian's signature in the form. A guardian certificate is not required if the minor has an account with FYERS.
Related Articles
How do I add a nominee to my existing Fyers demat account?
The nominee addition process for your FYERS demat account has been made entirely digital and simple: Access & Navigate: Go to the My Account portal. If there's a 'Online Nomination' pop-up, click 'Proceed to Submit'. If not, select 'Manage Account' ...
How do I verify nominee details in Fyers?
To verify nominee details after updating on FYERS, follow these steps: 1. Log in to My Account. 2. Navigate to your profile and select 'Manage Account'. A representation of this can be seen in the provided image. 3. On the top right corner of the ...
How do I change or modify nominee details on FYERS?
To change or modify your existing nominee details: Obtain the offline Nomination forms. Fill out the form and attach a copy of any one of the following identity proofs: Voter ID Aadhaar Card PAN Passport Ensure the form is filled, signed, and sent ...
How can a new client of FYERS add nominee details?
If you're a new client, the nomination process is integral to the account opening phase. For those who haven't started the account opening process, the nominee details can be added during the steps of the procedure. But if your Demat account has ...
What is a Dormant Account?
A dormant account is one that has had no trading activity for 365 consecutive days. In such cases, the exchanges consider the account dormant and mark it as inactive. To reactivate a dormant account, you need to verify your Know Your Customer (KYC) ...