How to Claim Investments of Deceased Investors: A Step-by-Step Guide for Mutual Funds and Bank Accounts

Losing a loved one is emotionally challenging, and managing their financial matters can make the situation even more stressful — especially if the deceased person did not nominate anyone for their investments or write a will. In India, **thousands of crores remain unclaimed** across bank accounts, mutual funds, and shares due to the absence of nominees or lack of awareness among family members.

According to official estimates, around **₹25,000 crore worth of shares** and over **₹80,000 crore in bank deposits** remain unclaimed because no rightful claimant has come forward. Understanding the correct procedure to claim these investments can help families recover their entitlements smoothly.

Here’s a detailed step-by-step guide to claiming funds from **mutual fund investments and bank accounts** after an investor’s death.

How to Claim Mutual Fund Investments

1. Identify the Folio Number and Fund House

The first step is to gather details about the deceased investor’s mutual fund holdings. Look through old emails, account statements, or broker apps. You can also use registrar platforms like **CAMS**, **KFinTech**, or **CDSL** to find the **folio number** and **Asset Management Company (AMC)** details.

2. Contact the Fund House or Registrar

Inform the concerned AMC or registrar (CAMS, KFinTech, etc.) about the investor’s death and request a **Transmission Request Form (TRF)** or **Death Claim Form**. These forms are also available on their official websites.

 3. Fill Out the Claim Form

The nominee or legal heir must fill in details such as the claimant’s name, bank account number, KYC information, folio number, and relationship with the deceased.

 4. Prepare the Required Documents

Here’s a list of documents generally required for the claim:

* **Death Certificate** (original or attested copy)
* **Transmission Request/Claim Form**
* **Identity and address proof** of the claimant (PAN, Aadhaar, etc.)
* **Bank account proof** (cancelled cheque or passbook copy)
* If no nominee is registered: **Legal Heir Certificate, Succession Certificate, Will, or Family Tree Affidavit**
* If the nominee is a minor: **Guardian’s documents** will also be required.

 5. Submit the Documents

All documents must be submitted to the AMC or registrar. Some fund houses accept scanned copies online, while others may ask for physical copies.

 6. Processing and Settlement

Once the documents are verified, the AMC transfers the **mutual fund units or redemption amount** to the claimant’s bank account. The process usually takes **a few days to a few weeks**, depending on the complexity of the claim.

 7. In Case of Disputes

If there’s a dispute among family members or multiple claims, the AMC may require a **court order or succession certificate** before releasing the funds.

How to Claim Bank Accounts and Fixed Deposits

 1. Inform the Bank Branch

Visit the bank branch where the deceased held an account and inform them of the account holder’s death. Request the **Deceased Claim Form**, which some banks also provide online.

 2. Prepare the Necessary Documents

Typically, you’ll need to provide:

* **Death Certificate** (original or verified copy)
* **Account details** (passbook or account number)
* **Claimant’s identity proof** (PAN, Aadhaar, etc.)
* **Cancelled cheque or bank passbook copy** for account verification
  If there is **no nominee** or if the amount is large, banks may ask for a **Legal Heir Certificate**, **Succession Certificate**, or a **Probate of Will**.

 3. For Joint Accounts

If the account type is **“Former or Survivor”** or **“Either or Survivor,”** the surviving account holder can continue operating the account or withdraw funds by providing the **death certificate** and **identity proof**.

 4. Claiming Fixed Deposits (FDs)

For FDs with a registered nominee, the process is simple: submit the **claim form**, **death certificate**, and **KYC documents**.
If there’s **no nominee**, legal heirs must produce the required certificates according to the bank’s policy.