Search for an answer or browse help topics to create a ticket
View all categories

What is the procedure for transmission of shares and funds upon the death of an account holder at Zerodha

Transmission in case of death of account holder can happen under 3 different scenarios mentioned below:

  1. If the account holder has nominated someone
  2. If a joint account holder exists
  3. If the account has no nominee
In case the account holder has nominated one person - The client has to submit the following documents to Zerodha's head office. Click here for the address.

  1. Transmission Request Form duly filled in – Annexure 7.1 (TRF)
  2. Original or copy of the death certificate of the deceased holder duly notarized/attested by a Gazetted Officer.
  3. Client Master Report(s) (of the DEMAT account of the nominee), in case the nominee has a DEMAT account in individual capacity with another DP of CDSL. Nominee (each nominee in case of multiple nominations) should be the sole holder of the account.
In case the account is a Joint account -  On the death of one of the joint holders, the surviving holders shall succeed to the
securities standing to the credit of such an account. On the death of one of the joint holders, the surviving holders shall submit the
following documents:

  1. Transmission Request Form duly filled in – Annexure 7.2
  2. Original or copy of the death certificate of the deceased holder duly notarized/attested by a Gazetted Officer
  3. Client Master Report of the joint holders, in case the joint holder(s) has/have a DEMAT account with some other DP of CDSL / another depository
Note: The surviving holder(s) can transmit securities to an account opened in their names only. Eg.1: If the account is in the name of A, B, and C, on the death of B, the surviving holders: A and C can transmit the securities only to an account opened in the order A and C.
Eg.2: If the account is in the name of A and B, on the death of B, the surviving holder: A can transmit the securities only to an account in the name of A without joint holders.

In case a nominee has not been appointed - 

If the holdings and funds value is more than 5 lacs:

  1. Transmission Request Form duly filled in – Annexure 7.1 (TRF)
  2. Original or copy of the death certificate of the deceased holder duly notarized/attested by a Gazetted Officer
  3. Anyone of the following: (i) A Succession Certificate, or (ii) A Letter of Administration, or (iii) A Probate of the will of the deceased - All of these can be obtained at District courts
If there is more than one claimant, the claimants/successors shall submit one Transmission Request Form.

If the holdings and funds value is equal to or less than 5 lacs:

  1. Transmission Request Form duly filled in – Annexure 7.1 (TRF)
  2. Original or copy of the death certificate of the deceased holder duly notarized/attested by a Gazetted Officer
  3. Anyone or more of the following documents: 
(i) Letter of Indemnity executed by the applicant(s) on nonjudicial stamp paper of appropriate value, duly notarized (Annexure – 7.3)

(ii) An Affidavit from the applicant executed on non-judicial stamp paper of appropriate value and notarized (Annexure 7.5) 

(iii) No objection certificate [NOC] from all legal heir(s) who are not applicants conveying no objection to the transmission of the relevant securities in favor of the applicant(s) - (Annexure – 7.1 [Part – II])

(iv) As an alternate to NOC, a copy of Family Settlement Deed duly notarized or attested by a Gazetted Officer and executed by all the legal heirs of the deceased BO, provided that:
- The Family Settlement Deed clearly vests the securities in favor of the person seeking transmission in his/her name.
- Vesting of securities in favor of the person seeking transmission in his/her name is not contingent upon any other onerous conditions in such Family Settlement Deed.

Note: If the division of shares as per the Family Settlement Deed is amongst more than one person, then the Family Settlement Deed
can be considered as a NOC for transmission of shares to each legal heir applying for transmission.

Note: if there isn't sufficient space in the TRF form - you can attach the Annexure of transmission.