What if the mutual fund holdings and demat account names don’t match?

Whether you are holding the demat account name in an individual name or in joint names, the name on the mutual fund folio must exactly match with the name in the demat account. Otherwise, the CRF (conversion request form) is likely to be rejected. Take some examples. If your mutual funds are held in the name of J.R. Shah and your demat account is in the name of Jignesh Rajeshwer Shah then the CRF will not be accepted. The names must match precisely with each other. In case of joint holdings, the order of names in the mutual fund holding and the demat account must match perfectly. For example, Raj and Sarita in the mutual fund cannot be Sarita and Raj in the demat account.

What if the name and pattern of holding in your demat account are different from the name and pattern held in Statement of Account? Example; a demat account is in the names of X, Y and Z and the Statement of Account is the names of Y, Z, and X. The name and pattern of the holding must be same in demat account and Statement of Account. As per the cited example, Mutual Fund Units cannot be converted into dematerialized form as there is a mismatch in the pattern of holding. In that case either you will have to open a new demat account with the same order of names or get the names changed in the mutual fund folio.