How to transfer shares to a nominee in ICICI Direct demat account? Step-by-step guide
When an ICICI Direct demat account holder passes away then transferring shares to the registered nominee helps in a seamless and legally compliant transition of assets. Now to facilitate the same, the share transfer process is streamlined by ICICI Direct, provided documentation is in order.
Why is nominee transfer important?
Transferring of shares to a nominee helps in avoiding legal delays, succession disputes and the need to obtain a court issued succession certificate. In case a nominee is registered with ICICI Direct then they become the rightful transferee of the deceased’s securities, enabling direct access to demat stock portfolio and holdings.
ICICI Direct nominee transfer: Process simplified
Check out the step by step guide to help nominees navigate the process efficiently.
Step 1: Ensure nomination is in place
- For single holders:
Log into www.icicidirect.com, go to Settings → Trading Nominee, and then add nominee details (name, relation, ID, share %). Do note, up to three nominees can be registered with a total allocation of 100%. - For joint holders:
Download the nomination form from the ICICI Direct “Downloads” section. Fill in the details carefully, get all holders’ signatures, and submit it physically at the nearest ICICI branch. Keep a copy of the same with you and the acknowledgement provided by the bank for future reference.
Step 2: Documents required after death
The nominee has to submit the following essential documents for initiating the transfer:
- Transmission Request Form, this form is available on the ICICI Direct website.
- Attested death certificate of the account holder.
- Self-attested PAN and ID proof of the nominee.
- Client Master List (CML) from nominee’s DP if different from ICICI.
- Indemnity bond (only if nominee was not registered properly or account opened before 2016).
Note: The list of documents listed above are illustrative in nature. For the updated list of documents required refer to the official website of ICICI Direct and reach out to the respective customer service team of the brokerage firm.
Step 3: Submit to ICICI Direct DP or branch
All the relevant documents must be submitted either at the ICICI Direct depository participant office or an ICICI Bank branch. For more details on the same first refer to the official website of ICICI Direct and speak to their customer service team.
Post verification, shares are transferred directly to the nominee’s demat account. Furthermore, any errors such as signature mismatches or missing documents will result in delaying the process and will require resubmission.
Step 4: Get help and track progress
You can seek help, keep yourself updated and track progress from the following channels:
Hence, transferring shares to a legitimate nominee in an ICICI Direct demat account ensures smooth, dispute free and seamless asset transfer after the death of the account holder.
ICICI Direct provides a simple and structured step by step process with clear documentation and digital support to help nominees complete the transfer effectively.
Disclaimer: The information provided in this guide is for general awareness only and may be subject to change. For the latest and most accurate details, nominees are advised to refer to the official ICICI Direct website or contact their customer support.
