To change guardians in mutual fund investments for a minor, you need to submit a request with your mutual fund

Want to change guardian’s name in your minor’s mutual fund account, here’s how to do it Read on to know all about the documents required, forms to fill, and the process to change a guardian's name in mutual fund investments in this article

How to change guardians in mutual fund investments
You will need to replace guardians when the current one can no longer manage the investment on behalf of a minor. This may occur due to the guardian’s demise, legal changes, or if he decides to relinquish responsibility.

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Change of guardian form
The applicant will need to get a ‘change of guardian’ form from the mutual fund house or download it from its official website.

Supporting documents
Next, he will have to attach the necessary documents, which include:

• A request letter signed by the existing guardian, or a legal affidavit if the guardian cannot sign.
• Proof of relationship between the new guardian and the minor, such as a birth certificate or a legal order.
• KYC documents of the new guardian, including Aadhaar card, PAN card and address proof.
• A cancelled cheque from the new guardian’s bank account for linking purposes.

Filling in details
The ‘change of guardian’ form needs to be duly filled, providing the minor’s folio number, investment details, as well as the new guardian’s personal details.

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Application submission
The completed form and supporting documents can then be submitted to the mutual fund’s designated office or through a registrar like CAMS or KFintech.

Verification and approval
The fund house will verify the details and process the change request. Once approved, the new guardian will receive confirmation and access to manage the minor’s investments.

Content courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)

This story originally appeared on: India Times - Author:Faqs of Insurances