Unclaimed mutual funds are investments that have not been accessed or claimed by the investor for a long period due to inactive accounts, forgotten holdings, or missing communication.
Investments kept in mutual fund schemes that have not been accessed or claimed by the investor
for an extended period are referred to as unclaimed mutual funds. These funds may come from
redemptions, dividends, or units held in unused accounts.
Mutual fund houses are required to lodge unclaimed cash in specified liquid funds, and claims must
be resolved as soon as an investor contacts the relevant mutual fund house.
If investors do not provide updated contact information or fail to monitor their investments, their accounts may become inactive.
Investors may fail to claim dividends or distributions declared by mutual funds, resulting in unclaimed amounts accumulating.
Investors may forget about their mutual fund holdings, especially if they have not received statements or communication for a long time.
If investors pass away without leaving clear instructions or beneficiaries, the mutual fund investment may become unclaimed.
To claim unclaimed mutual funds, investors must identify the funds using past records and statements,
and then contact the mutual fund company or its RTA to know the claim procedure.
Investors must submit KYC details, proof of identity, proof of address, and a claim form.
Once verified, the funds are transferred to the investor’s bank account.
The initial unclaimed amount should be given to investors for three years, including any interest collected
until the end of the third year following the date of redemption or dividend payment.
Identify unclaimed mutual funds using old statements and investment records.
Contact the mutual fund house or RTA and ask for the claim procedure.
Submit KYC, claim form, identity proof and address proof.
After verification, the mutual fund is credited to the investor’s bank account.
If the investor has passed away, legal heirs may need to provide a certified copy of the death certificate, legal heirship certificate, and KYC documents.
With nomination, the nominee can claim by submitting death certificate and claim form. Without nomination, legal heirs must submit succession documents and may need to follow legal procedures.
Sama Solutions provides complete support including documentation, verification and follow-ups with mutual fund houses and RTAs.