According to SEBI regulations, you must first notify the broker about an account holder's death before you can claim their holdings and funds. The claim process depends on your relationship to the deceased and the value of their holdings.
Notification process
SEBI guidelines require brokers to report deceased account holder details to KYC Registration Agencies (KRAs). Send these documents to Zerodha:
- Notifier form (PDF).
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Death certificate of the deceased holder (original/ notarized/ with a verifiable QR code)
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PAN or valid ID proof of the notifier (self-attested)
Any individual can notify, including a nominee, a joint holder, a successor, a legal heir, an applicant, or a claimant.
If the mobile number is linked to Aadhaar
- Fill out notifier form (PDF).
- eSign the document.
- Create a ticket and send it with the required documents.
If the mobile number is not linked to Aadhaar
Courier all documents to:
Zerodha Customer Support Centre
#192A, 4th Floor, Kalyani Vista
3rd Main Road, JP Nagar 4th Phase
Bengaluru 560076
To notify and claim process
The procedure to notify and/or claim holdings and funds depends on the specific situation:
- If the deceased's account has no holdings and funds.
- If the deceased was a joint account holder.
- If the account holder appointed a nominee.
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If the account holder did not add a nominee but has holdings and funds:
A. Quick Transmission Process (QTP): For holdings and fund values up to ₹30,000.
B. Holdings and funds value equal to or less than ₹30 lakhs.
C. Holdings and funds value more than ₹30 lakhs.
Once the transmission process is completed, the price of the shares must be manually updated on Console.