How to Change Your Name in Demat Account?

A dematerialized account, otherwise known as a 'demat account’ where you can keep digital forms of all your securities traded on the stock market such as commodities, ETFs, etc. You cannot trade in the Indian stock market without having a Demat account. In India, two primary depositories hold your Demat account: the National Securities Depository Limited (NSDL), and Central Depository Services Limited (CDSL).

There are very few eligibility criteria to start trading, but it is important to be cognizant of them. Anyone can open a Demat account as there is no age limit required for the same. If you are a minor (under 18), your parents or legal guardian can open a Demat Account on your behalf. To authorize your identity, you will be required to submit certain KYC (Know Your Customer) documents like proof of identity, proof of income, and proof of address. Your brokerage firm will verify your documents, and complete the process of opening up your Demat account. You will receive a client ID to be used for all your stock market transactions.

If in any case you wish or are required to change or modify the name of your Demat account for reasons like getting your name changed officially and permanently, or getting married, or if there is a change in your father’s name, or if you are taking up someone else’s last name or middle name, or any other such reasons, an intimation of the same to your broking firm is essential.

You must update your broking firm with the latest information about your name, address, and income, as this ensures smooth and hassle-free transactions in the stock market. Fortunately, the online and offline processes to change the name of your Demat account is quite simple and hassle-free.

Steps for Changing Name in your Demat account

Your brokerage firm would have an account modification form that can be downloaded from their website. Once you download this form and go through the terms and conditions you need to sign it. The person who wishes to change the name, that is, the account holder, has to sign it. In addition to the signed form, you will be required to submit your KYC documents, which should include a self-attested copy of your PAN card. However, a few additional documents may be requested by your brokerage firm to furnish as below:

A. If you wish to change your account name as a result of marriage or divorce:

• A notarized copy of your divorce certificate or your marriage certificate will be mandated.
• A scanned copy of a passport that shows your husband’s or father’s name is also required.
• You may also need to provide a notarized copy of the name change as published in the official gazette.

B. If you wish to change your account name for any other reasons that do not have to do with marriage or divorce:

• You need to provide a notarized copy of the name change as published in the official gazette.

C. If you wish to change your account name because your father’s name has been officially changed:

• A notarized copy of the name change as published in the official gazette.

With the duly signed form, a self-attested copy of your PAN card, and the necessary document, you would easily be able to request the name change of your Demat account with your brokerage firm. Your form, all the documents, and the PAN card would be scrutinized, and you would receive a notification that an official account name change request has been authorized by your brokerage firm. Note that your trading ID, otherwise referred to by some brokerage houses as a client ID number, will not change. The only thing that will change is the name on top of your ID.

In case the process is not streamlined enough or raises any questions and concerns to you, you can always reach out to your brokerage firm’s customer service for help. Ask all the relevant questions and take guidance from the customer service representative, who would help you with all the valuable information.