When an investor passes away, one of the biggest challenges for family members is coping with the emotional impact. Another challenge is to identify all investments held in the deceased’s name, as they are often spread across multiple mutual funds and demat accounts.
A Consolidated Account Statement (CAS) is a tool that can simplify this process by providing a consolidated view of investments linked to an investor’s , helping legal heirs claim financial assets, investments and wealth parked across different asset classes.
CAS is an important document for legal heirs
A CAS is a document that consolidates details of mutual funds, securities held in demat accounts, and certain bond investments. As it is generated using the investor’s PAN, it provides a single-window view of electronically held investments across depositories and fund houses.
Let us now look at these features in detail.
|
Information available in CAS |
How does it help legal heirs |
|---|---|
| Mutual fund holdings | Identifies investments across fund houses |
| Shares and securities in demat accounts | Reveals stocks and other market-linked assets |
| Transaction history | Helps verify ownership and investment activity |
| PAN-linked consolidated holdings | Provides a single view of assets across platforms |
Five steps legal heirs can use to trace and claim investments
- Locate the CAS: Search the deceased investor’s email inbox. You can do this using keywords such as “CAS”, “NSDL CAS”, “” or “Consolidated Account Statement”. This way, you can locate the emailed file to access their current or latest portfolio holdings.
- Open the PDF and identify all holdings: The password for these documents is generally the user’s PAN in capital letters. Provide the details and review the statement to identify mutual funds, shares, bonds and other securities held in .
- Note key investment details: Record folio numbers, total investment, demat account numbers, and the names of fund houses or institutions where investments are held.
- Approach the relevant institutions: Contact the depository, the relevant or the registrar associated with the identified investments. They will help you in the best possible way to assist with the transfer of investments.
- Initiate transmission of assets: Submit the required documents, including the deceased’s PAN, Aadhaar card details, the death certificate, proof of legal heirship, and identity proof, to transfer the assets to the rightful heir.
CAS does not capture physical share certificates and details. It is also not an instrument that contains details of traditional savings products. Given modern digital investment asset classes, CAS remains one of the most efficient and effective tools for tracking and tracing electronically held investments.
By providing a clear view of assets linked to an investor’s PAN, it can assist legal heirs in identifying holding details, initiating claims and reducing the risk ofremaining unclaimed or being lost.