Published Article Details

How to register nominations in mutual fund investments

Posted by: Girija Gadre on Nov 13, 2017, 06.24 PM IST

A registered and valid nomination allows a nominee to access the investments of a deceased investor in a hassle-free manner. Mutual funds make it mandatory to register nomination at the time of making the first investment. One can nominate up to three individuals with shares of each nominee specified in the nomination form.

Nomination details
Name(s) of all holders and folio details should be mentioned in the form. The investor should specify name(s) of the nominees and their address. In case of a minor nominee, age of the nominee, and details of guardian (name and address) are also required. The guardian must also sign the form. The share proportion of each nominee must be mentioned.

Nomination at the time of investing
This is the easiest way to nominate. Nominee details are a part of the application form and must be duly filled while filling up the investment application form.

Subsequent nomination

If nomination was not registered at the time of investment, it can be registered by downloading a nomination form specified by the fund house. The form can also be obtained from the AMC office/branch or investor service centre

Changing nomination
Even if nomination was registered at the time of investment, it can subsequently be changed by filling up a fresh nomination form and submitting the same to the fund house.

Nomination on a platform
When nomination is registered on a platform such as Mutual Fund Utilities, that nomination will supersede earlier nominations registered separately with each fund house

Points to note
* Nomination can be made only by individual investors and cannot be made in favour of a company/trust/HUF/partnership firm/society or a POA holder.

* If the investor does not want to register a nomination at the time of investment, he can tick on the box titled iI do not wish to nominatei" in the application form

Content courtesy: Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta. This article appeared in Economic Times dated Nov 13, 2017, 05.24 PM IST

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