How to change maiden names in mutual funds

If women want to change their names after marriage, they will need to record this alteration with their mutual fund investments as well. This is essential for effecting redemptions or carrying out further transactions. The KYC details recorded with the KRA (KYC registration agency) undergo a change due to marriage. The change form, along with the supporting documents, needs to be submitted to the KRA point of service.

Acknowledgement

Once the documents are submitted, the KRA issues an acknowledgement for receipt of documents and processes the change after due verification.

Informing the AMC

The investor needs to write to the mutual fund house, stating the changes that need to be carried out. The letter must include details, such as the folio number(s), maiden name and the new name after marriage, old and new signatures, the change in address, as well as bank details.

Documents

The letter should be supported by an attested copy of the marriage certificate, the new signature attested by the investor’s banker, a cancelled cheque with new name printed on it, a copy of acknowledgement received from KRA for change in KYC details, a copy of PAN with new name and address proof like electricity bill, new passport copy, etc.

Processing

Once the documents are submitted, the mutual fund takes about 7-8 working days to carry out the changes in its records. Once the change is carried out, the investor shall be intimated about the change by a letter.

Points to note

Before the above changes are carried out, the woman must go through with the name alteration procedure with respect to her bank account and PAN record.

It is also advisable to carry out the changes soon after marriage. If the records are up to date, it facilitates a quick redemption.

The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre and Arti Bhargava.