SEBI makes nomination declaration mandatory: Last date for mutual fund and demat account holders - December 31, 2023

Mutual fund investors and individual demat account holders are urged to mark December 31, 2023 as a crucial deadline set by the Securities and Exchange Board of India (SEBI).  By this date, account holders must either declare their nomination or opt out.

  Nomination is an important step to ensure seamless transfer of investments to the chosen beneficiaries in case of death of the account holder.  Those who have not yet submitted nomination details are advised to do so to avoid potentially lengthy and costly legal processes.

  Adding a nominee to a demat account involves simple online steps, accessible within the 'Profile segment' of the account.  Eligible nominees include family members to minors (with guardian details), while non-individual entities cannot nominate.

  Remember, missing the December 31 deadline may result in SEBI prohibiting debits from holdings, limiting withdrawals from mutual funds or trading using demat accounts.

  It is highly advised for investors to promptly comply with SEBI instructions, to ensure smooth transmission of investments and to avoid any restrictions on account activities.