Financial Awareness Level
How to Change Your Name in Mutual Fund Investments
A change of name in mutual fund records may be required due to reasons such as marriage, legal name change, or name correction. Updating your mutual fund details ensures consistency with official documents and avoids transaction issues. Here’s a step-by-step guide on how to request a mutual fund name change smoothly.
When Do You Need a Name Change in Mutual Funds?
- Marriage: Many investors opt for a change of name in mutual fund after marriage.
- Legal Name Change: Due to personal or professional reasons.
- Name Correction in Mutual Fund: To fix spelling errors or incorrect entries.
Steps for Name Change in Mutual Funds
1. Collect Necessary Documents
You need the following documents for a name correction in mutual fund:
- Duly filled Name Change Request Form (available from fund houses or RTAs like CAMS and KFintech).
- Self-attested copy of PAN Card with the updated name.
- Supporting Document (Marriage Certificate, Gazette Notification, Court Order, or Affidavit).
- KYC Form (if required by the fund house).
2. Submit the Request
- Visit the Registrar and Transfer Agent (RTA) of your mutual fund (CAMS or KFintech).
- Submit the completed request form along with supporting documents at the mutual fund house or RTA office.
- If your mutual fund is managed online, you may initiate the request digitally via email or the official portal.
3. Verification and Processing
- The fund house will verify the documents and process the request.
- You may receive a confirmation email or SMS regarding the update.
- The process usually takes 7-10 business days.
Important Points to Note
- Ensure that the new name matches the updated PAN and Aadhaar records.
- A joint holder must also approve the change (if applicable).
- Some mutual funds may require additional verification before approving the request.
Conclusion
Updating your name in mutual fund records is a straightforward process if you follow the required steps. Whether it’s a change of name in mutual fund after marriage or a name correction in mutual fund, keeping your records updated ensures seamless transactions and compliance with KYC norms. If needed, consult your fund house or RTA for additional assistance.
For further details click the link - Association of Mutual Funds in India SEBI Classification of Mutual Fund - HDFC Mutual Fund
Disclaimer:
The information is for general purposes only and not an investment advice. Readers should seek professional advice before taking any investment related decisions.
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.
FAQ Section
Why would I need to change my name in mutual fund records?
You may need to update your name due to:
- Marriage (change of surname or adoption of spouse’s name).
- Legal Name Change (through a Gazette notification or court order).
- Correction of Errors (spelling mistakes or incorrect entries in mutual fund records).
What documents are required for a mutual fund name change?
The required documents include:
- Duly filled Name Change Request Form (available from fund houses or RTAs like CAMS and KFintech).
- Self-attested copy of PAN Card with the updated name.
- Supporting Document (Marriage Certificate, Gazette Notification, Court Order, or Affidavit).
- Updated KYC Form (if required by the fund house).
How do I submit a name change request for mutual funds?
You can submit the request by:
- Visiting the RTA office (CAMS or KFintech) or the mutual fund house.
- Submitting the request online through the fund house’s official website or email (if applicable).
How long does it take to process a name change in mutual funds?
The processing time typically takes 7-10 business days, depending on the mutual fund company and document verification.
Can I update my name in mutual funds online?
Some fund houses allow digital requests via email or online portals. However, you may still need to upload scanned copies of supporting documents.
Will my mutual fund folio number change after the name update?
No, your folio number remains the same, only the name in the records is updated.
Do joint holders need to approve a name change?
If the mutual fund is jointly held, all co-holders must sign the request form to approve the name change.
Is it necessary to update my PAN and Aadhaar before changing my name in mutual funds?
Yes, the new name in mutual fund records must match your PAN and Aadhaar details to avoid discrepancies.
Can I continue SIP investments while my name change request is in process?
Yes, your SIP investments will continue without interruption, but ensure the records are updated to prevent issues during redemptions or transactions.
What should I do if my name change request is rejected?
If your request is rejected, check if:
- The documents provided were incorrect or incomplete.
- Your PAN or KYC details were not updated before the request.
- Additional verification is required by the fund house.
You can contact the fund house or RTA for further assistance.
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Disclaimer
An Investor Education And Awareness Initiative Visit https://www.hdfcfund.com/information/key-know-how to know more about the process to complete a one-time Know Your Customer (KYC) requirement to invest in Mutual Funds. Investors should only deal with registered Mutual Funds, details of which can be verified on the SEBI website (www.sebi.gov.in/intermediaries.html). For any queries, complaints & grievance redressal, investors may reach out to the AMCs and / or Investor Relations Officers. Additionally, investors may also lodge complaints directly with the AMCs. if they are not satisfied with the resolutions given by AMCs, they may raise complaint through the SCORES portal on https://scores.gov.in. SCORES portal facilitates investors to lodge complaint online with SEBI and subsequently view its status. In case the investor is not satisfied with the resolution of the complaints raised directly with the AMCs or through the SCORES portal, they may file any complaint on the Smart ODR on https://smartodr.in/login.
