What does ‘Declaration’ mean in Nomination and Declaration in FYERS?
In FYERS, under “Nomination and Declaration”, a Declaration is a formal statement made 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 is otherwise mandatory as per SEBI’s regulations. While you can submit a declaration, it is strongly advised to appoint a nominee to ensure smoother transfer of assets in case of unforeseen circumstances.
SEBI mandates that every Demat account must either have a registered nominee or a declaration opting out of nomination.
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. Refer to this article for the process. |
| My nominee is a minor | You must provide guardian details and supporting documents while updating nomination. |
| I don’t submit anything | You must complete either a nomination or a declaration; otherwise, your account opening or update cannot proceed. |
A declaration is legally valid, but appointing a nominee is strongly recommended to ensure smooth transmission of your investments.
Last updated: 19 Sep 2025
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