NRIs: Simplify Claiming Inherited Assets in India

If you are a Non-Resident Indian (NRI) inheriting financial assets like shares, mutual funds, or bonds in India, navigating the transmission process can feel complex. Thankfully, a new framework from SEBI aims to make this journey smoother for you.

The Securities and Exchange Board of India (SEBI) introduced this updated transmission framework on July 23, 2026. This new system is designed to standardize and simplify the process, with requests expected to be processed within 21 calendar days once all necessary documents are properly submitted.

Your Step-by-Step Guide to Claiming Assets

To successfully claim your inherited assets, you need to follow a few critical steps to avoid common delays.

Identify all assets: Start by identifying all financial holdings, which include demat accounts, mutual fund folios, and bond holdings. A Consolidated Account Statement (CAS) can be very helpful here.

Obtain death certificate: Secure multiple certified and notarized copies of the death certificate. This is a foundational document for any inheritance claim.

Verify nomination status: Check if a valid nominee exists for each asset. A nominee significantly simplifies and speeds up the transmission process compared to relying on a Will or intestate succession.

Consider a Power of Attorney: If you reside overseas, appointing a trusted representative in India through a notarized and apostilled Power of Attorney (PoA) can help manage local formalities efficiently.

Understanding Transmission Timelines

The time it takes to transmit assets can vary significantly depending on whether a nominee is in place.

Mutual funds with a nominee: These typically take between 7-15 working days to process.

Dematerialized shares with a nominee: Expect these to be transmitted within 15-30 working days.

Cases without a nominee or Will: These situations, which require a succession certificate, can extend from two to six months or even longer. Overseas documentation requirements, such as apostille and embassy attestation, often contribute to these delays.

Avoid These Common Pitfalls

Many NRIs face delays due to easily avoidable errors in their documentation and application.

Name mismatches: Ensure names across your PAN, demat accounts, and the death certificate are identical.

Outdated KYC: Keep your Know Your Customer (KYC) records current and complete.

Unattested foreign documents: Foreign documents must be properly notarized and apostilled to be valid in India.

Signature discrepancies: Make sure your signature matches across all submitted forms and previous records.

Missing NOCs: Obtain No-Objection Certificates (NOCs) from other legal heirs when required.

Lost physical share certificates: If applicable, ensure you have all original physical share certificates.

Nominations and Wills: Your Dual Shield

While a registered Will provides clarity and helps prevent disputes among heirs, it should not replace updated nominations for your financial accounts. SEBI’s framework now emphasizes nominations, removing the mandatory probate requirement in many cases.

Experts consistently recommend maintaining both a registered Will and diligently updated nominations across all your financial assets. This dual approach streamlines the process significantly and minimizes potential delays for your NRI heirs, ensuring a smoother transition of your legacy.