Do you find yourself in a situation where you wish to change or modify your name in your demat account? This happens often with several investors, in case they are officially changing their name or are getting married/divorced or there is a change in their father’s name or in case one is taking on someone’s middle or last name. In such a scenario, it is extremely important that one informs their broker about such a change to ensure that there are no subsequent hassles when trading or investing in the stock markets. Fortunately, a name change in an online Demat account can be done quite easily.
Ask your broker or a representative from your brokerage firm to give you an account modification form. Alternatively, this form can be downloaded from their website. Fill in your details in the form and sign it. Along with the signed form, you will be asked to submit your KYC documents to the brokerage firm. This will include a self-attested copy of your PAN card. There are other documents that your brokerage might ask from you. They are:
1. In case of marriage or divorce
2. In case of a name change for any reason other than a divorce or a marriage
3. In case of change in the name of the father
Once you have these documents ready along with your PAN card, you can send them to your depository participant, the head office of your brokerage firm or to a local broker or an online portal depending on the kind of service that is being provided by your broker.
Your documents will be assessed and you will receive a notification that your official name change has been acknowledged and authorised by your brokerage. Investors must take note that this will not change their trading ID, also known as client ID number. The only thing that will change after this process is the name as it displays on top of their client ID number.
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