Lesson 15 of 50 for advisers · Nominees, KYC and transmission · 5 min read · Reviewed 13 Nov 2026
Up to 3 nominees from 1 Sep 2026. Nomination is required for new single-holder accounts unless the investor opts out. Without a nominee, a claim of up to ₹5 lakh needs a notarised indemnity bond, proof of relationship and the other heirs’ consent; above ₹10 lakh it needs a probated will, succession certificate or court order.
From 1 Sep 2026 an investor may name up to 3 nominees, down from the 10 allowed since 1 Mar 2025. Only the nominee’s name and relationship are required, and unspecified shares split equally.
A KYC is validated when the KRA has checked PAN, name and address against official records and confirmed the PAN-Aadhaar link. Only a validated KYC moves with the client to another firm.
Without a nominee, a claim of up to ₹5 lakh needs a notarised indemnity bond, proof of relationship and the other heirs’ consent. From ₹5 to ₹10 lakh, a will or legal heir certificate is added.
Above ₹10 lakh, the claimant needs a probated will, a succession certificate or a court order. Until transmission is done, the fund house accepts no redemption from the claimant.
Key idea: A folio with a nominee skips most of this paperwork, which is why a nominee check is worth an annual review.
Try the short quiz on this page to check what stuck.
For a new single-holder account, yes, unless the investor opts out. For joint holdings it is optional, and every holder must agree.
No, except where the investor signs with a thumb impression.
A bank manager for claims up to ₹5 lakh, and a notary or magistrate above that.
For learning only, not investment advice. Built in India by a team that tracks its own money on Reva.