Minor to Major Change of Status Letter for Mutual Fund (Sample)

A mutual fund unit holder could be a person of minority age. In India, age of minority is considered to be under 18 years of age. For handling the property of the minor, one or more guardian is appointed by the court of law. In case of mutual fund, the guardian name is added in case of minor aged unit holders.

After attaining the age of majority, the minor or the guardian could apply to the mutual fund company for removal of name of the guardian from their register and update the age status of the unit holder from minor to major.

Where to apply for change: You could visit the branch office of the mutual fund company to collect the application form available with them and submit there or you can download the application form from their website and submit at/send to the branch. The application form is to be duly filled in and signed. Copies of documentary proofs proving age of majority should also be provided.

Some mutual fund companies may also accept change requests in written letters. Following format could be useful in such cases.

FORMAT

Date: ...................

From

(Name of the Mutual Fund unit-holder)

(Address, Phone No., Email id)

To

The Manager

(Mutual Fund Company Name)

(Branch Name, Address)

(Phone No.)

Sub.: Application for change of status from minor to major

Ref: Mutual Fund Account Number ....................................

Dear Sir/Madam,

I am currently a mutual fund unit-holder of your organization. My holding details are as follows.

Folio No. ...................

Registered holder name: .................. Date of Birth: ...................... PAN: ....................

Guardian name: .........................

The investments in the account was made when I was of the age of minority / The investments in the account were transferred to me as I was the nominee to my parents holdings, I was a minor then. I am now of the age of majority. I have attained the age of 18 years on (date). Hence, I would like the age status of my mutual fund account with you be changed from minor to major. I would also request for the removal of guardian name i.e. (name of guardian), from my account as it is not necessary anymore.

Also, kindly update my personal details as per the KYC form and my banking details as per the bank verification form, which are enclosed herewith.

Enclosed herewith the following documents in support of my request:

(1) KYC acknowledgement form duly self attested.

(2) Copy of Age proof (birth certificate, matric certificate, driving license, etc)

(3) Identity and address proof copies (PAN card, Aadhar card, etc)

(4) Specimen Signature in blank paper.

(5) Bank verification form for updation of bank details.

(6) Cancelled cheque or bank passbook photocopy.

Kindly do the needful and oblige. Please communicate once the status is updated.

Thanking you,

Yours faithfully,

signature

(Name of the Mutual Fund unit-holder)

Encl.: As above

............................................................................................

Bank Verification Form Template

TO WHOMSOEVER IT MAY CONCERN

(Name of the Person), resident of (full address), date of birth: ..............., phone no. .............., who is holding an account in our bank as per the following details:

Account holder's full name: ....................

Bank name: ......................

Branch name: ...................

Address: ...........................

Account number: .............

Type of account: Savings/Current

IFSC: ...............................

MICR: .............................

Signature: ........................

Name: ..............................

Attested by: (Bank Official Details)

Signature: .........................

Name: .......................

Designation: .................

Employee number: ..................

(Branch seal)

This verification form is provided as per the request of the (Name of the Person) for submitting to the mutual fund company for change of status from minor to major.

Date: .............

Place: .............

Request Letter for Transmission of Mutual Fund Units (Samples)

Transmission is the transfer of legal rights on something from a person to another person(s). Transmission is done by operation of law rather than direct interference by the transferor as in most cases when the transfer happens the transferor is already deceased at that time.

Following samples could be useful for transmission request for mutual fund units. Letter is to be addressed to either the Mutual Fund company itself or its AMC - Asset Management Company if the Mutual Fund units are managed by any AMC.


SAMPLE #1

Letter from Nominees/Legal Heirs in case of Death of Sole /All unit-holders for Transmission of Mutual Fund units

Date: .....................

To
(Name of the Asset Management Company)
(Unit: Name of the Mutual Fund Company)

(Full Address, Tel. No., Email)

Sub.: Request for transmission of mutual fund units

Dear Sir/Madam,

I/We, .....................(name of nominees/heirs), would hereby like to bring to your attention that the following mutual fund units are currently being held in the name of (name of the sole or all joint holders who died), who sadly passed away on (date). The death certificate of the deceased is enclosed herewith.

Sl. No.  |  Mutual Fund Scheme Name  |  Folio No.  |  No. of Units
 1.
 2.

(in case of nominee) As you will notice from your records that I/We am/are the registered nominee for the above mentioned units. My/Our identity and address proofs are enclosed herewith for your verification.

or

(in case of legal heir) I/We am/are the legal heirs of the deceased whose mutual fund units holding details are provided above. Copy of Will / Succession certificate is enclosed herewith for your reference.

My/Our personal and banking details are as follows. Kindly update it in your records.

S.No. | Claimant Name | Address | Phone | Email | Banking | PAN | Relationship with Deceased
  1.
  2.

Therefore, I/we request you to kindly transmit the said mutual fund units in my/our name.

Kindly do the needful and communicate accordingly.

Thanking you,
Yours faithfully,

signature
(Name of the Nominee/Legal Heir)

Enclosures:
(1) Copy of Death Certificate duly attested by Notary Public.
(2) Copy of Will / Succession Certificate duly attested by Notary Public.
(3) KYC documents - identity and address proofs of nominees/ heirs.
(4) Bank mandate form with signature verification from banker of nominees / heirs.
(5) Indemnity bond and individual affidavits from legal heirs.

SAMPLE #2

Letter from 2nd and/or 3rd unit-holders (surviving unit-holder) in case of Death of 1st unit-holder for Transmission of Mutual Fund units and if his Nominee not registered

Date: .......................

To
(Name of the Mutual Fund company)
(Address)
(Tel. No.)

Sub.: Transmission of Mutual Fund units

Dear Sir,

I/We, ............................ (name of the surviving unit-holders), hereby would like to inform you that the following mutual fund units are currently held by .....................(name of the deceased unit-holder) and us jointly in our names. Sadly, ................ (name of the deceased unit-holder) has expired on (date).

[Mutual Fund Units Details - scheme name, number of units, folio no.]

I/We, therefore, would kindly request you to transmit the units in my/our favor. My/Our identity and address proofs are enclosed herewith along with other required documents including death certificate copy and bank mandate form.

Kindly do the needful and intimate us once done please.

Thanking you,
Yours faithfully,

signature
(Name of the surviving unit holder)

Enclosures:
(1) Original death certificate / copy of death certificate duly attested by gazetted officer or notary.
(2) Identity and address proofs of surviving unit-holders.
(3) Bank mandate form duly filled in and attested by banker.

SAMPLE #3

Letter from Legal Guardian of Nominee in case of Death of Sole unit-holder / Joint unit-holders for Transmission of Mutual Fund units, if Nominee is a minor

Date: ........................

To
(Name of the Mutual Fund company)
(Address, Tel. No.)

Sub.: Request for transmission of mutual fund units

Dear Sir,

I, ............... (name of the legal guardian), is the legal guardian of (minor name) who is a minor now. (Minor name) is the registered nominee for the following mentioned mutual fund units which is currently in the name of (deceased person's name). I have to sadly inform you that (deceased person's name) has passed away on (date).

[Mutual Fund Units Details - scheme name, number of units, folio no.]

Therefore, it is kindly requested that the said units be transmitted in the name of (minor name), under my guardianship.

All the required documents are enclosed herewith. If there is any more information or documents are required, then let me know by letter/email or over the phone reachable at .................

Kindly do the needful and oblige.

Thanking you,
Yours faithfully,

signature
(Name of the Legal Guardian)

Enclosures:
(1) Death certificate of the deceased unitholder, duly notarized.
(2) Identity and address proofs of nominee and guardian.
(3) Bank mandate details of nominee and guardian in the form attested by banker.
(4) Minor nominee's date of birth proof copy duly notarized.
(5) Legal guardianship proof - court order copy duly notarized.