How to Change Your Name in Demat Account?

If you want to know how to change the name in your Demat account, you’ve come to the right place. Changing your name in a Demat account is a straightforward process but requires careful attention to detail and proper documentation. Whether due to marriage, legal name change, or any other reason, updating your name ensures that all your investment records remain accurate and consistent. The process typically involves obtaining and filling out a name change form from your depository participant (DP), attaching necessary supporting documents such as a gazette notification, marriage certificate, or legal name change certificate, and submitting these to your DP. Your DP will then verify the information and process the Demat account name change request. Ensuring your name is correctly reflected in your Demat account is crucial for maintaining the integrity of your financial records and avoiding any potential issues with future transactions.

Changing Your Name in Demat Account

A Demat account is essential for trading in the Indian stock markets. It stores securities like equities, bonds, mutual funds, and exchange-traded funds in electronic form, facilitating easy online share trading. Given its importance, ensuring the accuracy of information in your Demat account is crucial. However, there may be instances wherein you may be required to raise a Demat account name change request, such as a name change after marriage or spelling errors.

Fortunately, changing your name in a Demat account is now a simple and hassle-free process. Follow these detailed steps to update your name in your Demat account:

• Visit Your Broker’s Website:

  Log in to the website of the depository participant (DP) or broker where your Demat account is held.

• Download the Account Modification Form:

  Navigate to the forms or downloads section and download the account modification or name change form.

• Fill Out Required Details:

  Complete the form with accurate details, including your old name, new name, and reason for the change. Ensure all information is correctly filled out to avoid any processing delays.

• Attach Attested Proof of Name Change:

  • Spelling Error Correction: Submit a copy of your PAN card reflecting the correct name.
  • Name Change Post Marriage: Provide a marriage certificate or a gazette notification as proof.
  • Ensure all documents are attested as required by your DP.

• Submit the Form and Documents:

  Submit the completed form along with the necessary documents to your DP either online (if available) or by visiting their office.

• Verification and Processing:

  The DP will verify your documents and process your request. This typically takes 3-5 working days.

• Confirmation of Name Change:

  Once the name change is processed, you will receive a confirmation from your DP. Check your Demat account to ensure the updated name is correctly reflected.

By following these steps, you can ensure that your Demat account information is accurate and up-to-date, maintaining the integrity of your financial records and avoiding any potential issues with future transactions.

Changing name in Demat account due to marriage or divorce:

• A notary signed copy of the divorce certificate or the marriage certificate.
• A scanned copy of a passport showing the name of the father or husband.
• A notary signed copy of the change of name as published in the official gazette.

Changing name in Demat account due to reasons other than marriage or divorce:

While name changes due to marriage or divorce are common, there are other reasons why you might need to update your name in your Demat account, such as legal name changes, spelling corrections, or personal reasons.

To change the name in your Demat account for reasons other than marriage or divorce, you will need to submit a notary-signed copy of the name change as published in the official gazette. This document serves as legal proof of your new name. Furthermore, you may also need to provide a copy of your PAN card or other government-issued ID reflecting the correct name. Finally, do ensure all documents are attested as per the requirements of your DP. Different DPs may have a different Demat account name change process, specific requirements or additional documentation needed. It is recommended to consult your broker for their precise procedures and required documents to avoid delays and unnecessary steps.

Changing names in case of change in the name of the father

If your father's name has been officially changed, you'll need to update your records accordingly. To change your name in your Demat account due to your father's name change, you must provide a notarised copy of the name change as published in the official gazette. This document serves as legal proof of the updated name, ensuring your account information remains accurate.

Where should you send the documents

Once all your documents are ready and attested, in accordance with the requirements and guidelines of your DP, you will need to send them to your DP, the head office of your brokerage firm via offline mode, or through an online portal. This depends on the modes and services provided by your broker. Your documents will be reviewed, and you will be notified once your name change has been processed and authorised. Note that this process will not alter your trading ID or client ID number; it will only update the name displayed on your account.

It is recommended to retain copies of all submitted documents and forms for your records. Moreover, if you do not receive confirmation within the specified timeframe, follow up with your DP to ensure your request is being processed and if they require any further clarification, it can be resolved in a timely manner.

Read Also: How to Add Nominee in Demat Account