Is it mandatory to have a nominee for my trading and demat account?
Choice of nomination has been made voluntary for trading accounts; however, nominations are mandatory for demat accounts.
As per the recent guidelines issued by SEBI and Depositories, there have been important changes regarding the nomination process, effective from June 1st, 2025.
- Nomination or opt-out is mandatory for single-holding accounts and optional for joint holder accounts.
- Following details are mandatory: nominee name, address including pin code, DOB (in case of minor nominee), email address, mobile number, relationship, and nominee identification number.
- PAN / Driving license/ Aadhaar (last 4 digits) can be given as a nominee identification number. If the nominee is an NRI , the passport number can also be given as the nominee identification number.
- Client can choose whether the nominee's name or status should be displayed in the statement of holdings/statement of accounts.
Resident individuals and NRI single-holder accounts can add a nominee on MyGeojit. Other account types (joint accounts, etc.) will have to submit a physical Nomination Form at a branch. Click here for the revised nomination form. Non-individual accounts (HUFs, companies, trusts, etc.) cannot have nominees.
Quick Links : How can I add a nominee to my trading/demat account? How to Opt out of nomination ? To opt out of nomination, you need to visit the nearest branch. Once you opt out of nomination, if you wish to opt in for nomination, you need to visit the branch again.
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