Samita, who is getting married next month, has decided to change her maiden name. As much as this is a personal decision, the same could affect the investments that she has in her name.
“They may have given their maiden name in a lot of their investments which bear interest, dividend, said Suresh Sadagopan, a Sebi-registered investment adviser and founder, Ladder7 Financial Advisories, in case the name gets changed in the bank account, the direct credits may bounce.
“Also, when the investments mature, the final proceeds may not come in."
“When they change the name, they should once and for all change everywhere by giving their marriage certificate so that this problem does not impact them," Sadagopan asserted.
Here are a few things an investor should know if she is planning to change her maiden name:
Name change for PF investments: To change the name in the PF account, the investors has to fill the form available for it in the UAN website, get an approval from the employer and submit copy of identity proof.
With in 30 days, the process can be completed
Changing names for FD/ mutual fund investments: In case the investor has FD/mutual funds investments, she should submit her marriage certificate, attested copy of identity proof to the bank, KRA (KYC Registration Agency) or a AMC for the name change.
The mutual fund office also asks for no objection certificate from the unitholder sometimes.
It is also essential to update your PAN card.
Documents needed for name change:
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