SEBI extends deadline for demat account holders to add nominees till December 31st

If you haven't yet added a nominee to your demat account, then you're in luck. Capital markets regulator SEBI has extended the deadline for existing demat account holders to add a nominee to December 31st from September 30th earlier.

Now, demat account holders have until December end to make their choice of nomination or formally opt out of nomination using a declaration form.

Furthermore, SEBI has made the submission of 'choice of nomination' for trading accounts voluntary, aiming to simplify business operations.

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This extension is designed to assist investors in safeguarding their assets and ensuring their transfer to legal heirs. SEBI has also granted physical security holders until December 31 to provide PAN, nomination, contact details, bank account information, and specimen signatures for their respective folio numbers.

This decision follows SEBI's earlier instructions in July 2021, which mandated existing eligible trading and demat account holders to select a nomination by March 31, 2022, later extended to March 31, 2023, and subsequently to September 30, 2023.