When a company makes a profit, it shares that income with its shareholders. If a shareholder dies, their shares don’t disappear. Instead, they pass to a chosen beneficiary or heir. Shares can be in either electronic (demat) or physical form, so proper paperwork is needed for the next owner to inherit them. This process, called the transmission of shares and, can sometimes be complicated due to legal rules. A key document in this process is the Transmission Request Form (TRF). It must be filled out correctly to ensure the shares are transferred smoothly.
This article explains what a Transmission Request Form is, when and why it’s needed, how to obtain it, and most importantly, how to fill it out correctly. We also explain the scenarios under which different procedures apply, such as whether a nominee is present or not and how professional services like Investorlink can support you throughout the process.
What is a Transmission Request Form?
A Transmission Request Form is a form that is filled and submitted on behalf of the legal heirs, nominees, or surviving joint holders of a deceased shareholder to the Company, RTA, or DP requesting the transfer of the deceased’s shares into their name.
Transmission happens due to the operation of law, meaning it occurs because of death, inheritance, or bankruptcy, not through sale or voluntary transfer.
The major difference between a share transfer and a transmission is that a share transfer has to be by the mutual agreement of a buyer and seller and a transfer deed, whereas a transmission does not require any sale or transfer agreement. It only requires legal documents that can prove the right of the claimant to inherit the shares.
The TRF becomes the official application for the company or DP to process the transfer of ownership from the deceased to the rightful person.
Format of Transmission Request Form
Though each company or DP may have its layout, most TRFs include similar information. Here’s what you’ll find in a typical form:
- Details of the Deceased Shareholder:
- Name of the deceased
- DP ID and Client ID (for demat shares)
- Folio number (for physical shares)
- Details of the Claimant(s):
- Full name and address
- Relationship with the deceased
- Age and occupation
- PAN and identification documents
- Photographs (if required)
- Signature or thumb impression
- Details of Shares:
- ISIN number
- Share certificate number (for physical shares)
- Number and type of shares
- Distinctive numbers (for physical shares)
- Declaration Section:
- Legal declaration by the claimant(s) requesting transmission
- Signature of Witnesses:
- Witness names, addresses, and signatures
- Checklist of Documents Attached:
- Death certificate
- ID proofs
- Legal documents (succession, affidavits, etc.)
- Acknowledgment Slip:
- A receipt confirming the submission of the form
Forms from companies like ITC or depositories like CDSL follow this general pattern.
When is the Transmission Request Form Required?
The Transmission Request Form is required when:
1. Death of the Sole Holder of Shares
If a person had shares in their name alone and died, then their legal heirs or nominee can file the TRF to claim the shares.
2. Death of One or More Joint Holders
In joint holding, the surviving joint holders can apply for transmission to strike off the deceased’s name and continue as shareholders.
3. Nominee Registered
If the deceased registered a nominee, then the nominee becomes entitled to claim the shares by filling out the TRF along with other supporting documents.
4. No Nominee Registered
In the absence of a nominee, legal heirs will have to claim the shares and submit TRF along with any proof of their claim (such as a succession certificate, indemnity bond, or an affidavit) in support thereof.
5. Transmission from Physical to Demat
Oftentimes, the claimants take this opportunity of rights of transmission to decode the shares and simultaneously transmit them to a demat account.
How to Get a Transmission Request Form for Shares & Fill It Correctly?
Step 1: Acquire the Right TRF
It can be obtained from:
- Company Investor Section of an organization’s official website
- Registrar and Transfer Agent (RTA)
- Depository Participants (DP) for demat accounts (like CDSL/NSDL brokers)
- Personally, by visiting any company or RTA service centers
Important: Ensure to use the right version of the form – Demat vs. Physical Nominee vs. No nominee, Sole versus Joint Holder.
Step 2: Understand Your Transmission Scenario
Different document requirements according to the role:
If You Are the Nominee:
- Submit TRF, original/notarized death certificate, PAN, and ID proof.
- If the account was opened before 2016, a nominee indemnity may also be needed.
If There is No Nominee:
- All legal heirs need to submit TRF, death certificate, succession certificate, or will (if available) along with their PANs and affidavits.
- If there are no succession documents available, then an indemnity bond and No Objection Certificates (NOC) from other legal heirs are required.
If You Are a Joint Holder:
- Surviving joint holder to submit TRF with a death certificate and his/her ID proof.
If a Minor is Involved (Heir or Nominee):
- Guardian (in most instances, a parent) to produce KYC documents.
- A birth certificate of the minor is also mandatory.
Step 3: Fill out the application form in a careful manner as follows:
- Write in block letters
- All names must match exactly with the ID proof
- If there are multiple heirs or securities, make use of extra sheets
- Do not leave any section blank; “Not Applicable” must be mentioned,
- If need be, passport-size photographs would need to be submitted
- If required, thumb impressions need to be attested by a notary or magistrate.
Step 4: Attach All Relevant Documents
This is a complete checklist:
1. An original or notarized copy of the Death Certificate
2. PAN and address proof of claimant(s)
3. Original share certificates (for physical shares)
4. CML in crystal format, in case your DP is different from the deceased’s DP at the time of death
5. Affidavit (on ₹10–₹100 stamp paper, depending on the state)
- Should be filed distinctly by each legal heir.
- To confirm the identity and claim
6. Indemnity Bond
- On ₹50–₹200 non-judicial stamp paper as per state requirements
- To be Notarized
- Signed by all the claiming heirs
7. No Objection Certificate (NOC) from the other legal heirs
- Executed on ₹20 stamp paper
- Individually submitted by each heir not claiming shares
- Notarized
8. Certificate of Will/Probate/Succession Certificate/Letter of Administration/Legal Heir Certificate (if available)
9. Two Sureties (for indemnity bond if no succession certificate is provided)
- Must give PAN, ID proof, Form 16
- Should not be from the same family
10. Bank letter verifying the applicant’s signature (for physical shares)
11. Birth Certificate (if there is a minor involved)
Step 5: Form Submission
Submission of the form and other documents to:
- The RTA (for physical shares)
- The Depository Participant (for demat shares)
You will obtain an acknowledgement receipt confirming the submission of your request.
Step 6: Retain Send Copies and Follow Up
• Keep copies of everything that is sent.
• Make follow-up calls or emails after some weeks.
• Repeat the process for each company in case of multiple companies.
Additional Key Points to Remember
Some additional key facts to remember are as follows:
1. An individual affidavit shall be executed by every legal heir. Joint affidavits are not accepted.
2. An affidavit must also accompany, in case a death certificate name differs from the name on the share certificate, an affidavit to confirm that both belong to the same person.
3. Affidavit and indemnity stamp paper value varies state-wise: ₹10-₹20 elsewhere for affidavits, ₹50-₹200 for indemnity bonds.
4. All thumbprints must be signed and sealed by a magistrate or public notary.
5. Two witnesses and two sureties (not related to one another) must sign the Affidavit and Indemnity Bond.
6. A Client Master List (CML) is required in case the demat account of the legal heir is maintained with a different DP than the deceased.
7. Original documents or notarized copies only will be accepted – unauthenticated photocopies will not be accepted.
What does Investorlink offer you?
It can take up a lot of time and effort to navigate a transmission process where old physical shares are concerned, as in some cases where nominee or legal issues arise. Fortunately, there are options like Investorlink that make the entire process of transmission of shares much more seamless.
Investorlink can:
- Help you identify the type and format of TRF you require.
- Draft the TRF and help fill it out accurately.
- Draft and notarize the Affidavit, Indemnity Bond, and NOC.
- Obtain missing documents such as a legal heirship certificate or succession certificate.
- Coordination with all RTAs, depository participants, and companies.
- Conversion from physical to demat form during transmission.
- Tracking status for faster processing time.
Whether you are dealing with a single company or have multiple shareholdings across different registrars, Investorlink brings in the complete end-to-end service such that neither heirs nor nominees have to go through multiple follow-ups or endure documentation errors.
To Wrap Up
Transferring shares from someone who has passed away to their rightful recipients is an important legal process that requires careful attention. To start this process, you need to fill out the Share Transmission Request Form (TRF), which is essential for this transfer. Make sure you understand the steps involved and fill out the form carefully. You also need to gather all necessary documents to prove your status as a nominee, legal heir, or surviving joint holder.
It’s important to note that incomplete forms, missing documents, or mistakes in notarization can cause delays and complications. To avoid these issues, getting help from qualified professionals can be very useful. Investorlink services can make the transmission process easier, reducing the chances of rejection and the need for repeated follow-ups that can slow down the transfer.
With this guide, you should have a clearer understanding of how to get and fill out the Transmission Request Form correctly. By following these steps, you can help ensure that the shares of the deceased shareholder are passed on smoothly and legally to the right beneficiaries, honouring their memory and respecting their wishes.
Frequently Asked Questions (FAQs)
The Transmission Request Form is a legal document that allows the transfer of shares from a deceased shareholder to their heirs, survivors, or nominee(s). With this portable document, an entitled person can inherit the shares without the necessity for sale or any form of agreement. It will be duly lodged with the company, Registrar and Transfer Agent (RTA) or Depository Participant (DP), depending on how the shares are held, either in physical or demat form.
The Transmission Request Form is required when a shareholder passes away, and his/her shares need to be transferred legally, as this process cannot take place in a normal mode; it involves transmission due to death, inheritance, or legal right. This form must be submitted through legal heirs, nominees, or surviving joint holders, accompanied by requisite documents, to initiate the transmission process.
A TRF can be submitted by legal heir(s), nominee(s), or surviving joint holder(s) of a deceased Stockholder. Where a nominee has been registered, he can claim the Shares. If there is no nominee available, all legal heirs need to join to submit the TRF, sometimes with a succession certificate or legal heirship documents. Surviving joint holders can also file the TRF to update ownership records.
Yes, there are separate TRFs for demat and physical shares, as the channels of processing and documentation would vary. Demat shares are managed by Depository Participants like NSDL or CDSL, while physical shares are processed by RTAs. Each has a specific TRF format tailored to the mode of holding. Submitting the wrong form can delay the transmission process, so double-check the form type before submission.
While all companies, RTA, or DP may have some variations in the formats, all TRFs request uniform information about the deceased, the claimant, shares, legal declaration, witness signatures, and a checklist of attached documents. Furthermore, some TRFs have a detachable acknowledgement slip at the end. Always use the version issued by the respective RTA, company, or DP to ensure that it is compatible with their requirements.
An affidavit is a sworn statement typically by a legal heir, stating his or her relationship with the deceased and confirming the validity of the claim in question. The affidavit needs to be submitted by each legal heir on stamp paper costing anywhere between ₹10 to ₹100, depending upon the state. The affidavit can also state that there is no other claimant. It needs to be notarized or signed in front of a magistrate and will be required in the absence of a succession certificate or nominee.
The duration for Transmission entirely depends on whether the shares are demat or physical. For demat shares, the transmission process takes around 7 to 15 working days upon receipt of duly executed documents. In the case of physical shares, the transmission takes about 3 to 6 weeks, owing to additional verification. Further delays may arise in case of any missing documents, incorrectly filled documents, or those that were not notarized correctly. Keeping a note of your submission and following up with the RTA or DP is always recommended.
Shares cannot be transferred to another person until the process of transmission is complete. It comprises the legal process of inheritance and is not a normal transfer. Their sales, pledges, or gifts remain suspended until registration of the shares in the claimant’s name. Once they are transmitted into a new account holder’s demat/folio, normal transactions continue as per standard procedure.
In the case of holding shares jointly, if one of the holders dies, the remaining holder(s) may require applying for transmission, which would mean that they would submit the TRF, notarized copy of the death certificate of the deceased, and their identity and address proofs. The deceased will be removed from the list of holders, and the shares will be held in the names of the remaining holders. Court documents or No Objection Certificates are not generally required in such a case.
Some Depository Participants and RTAs might offer the option of online submission through their own portals for demat share transmission. Usually, scanning and uploading of documents is done, and a request for e-signature on TRF may follow. On the contrary, offline submission is often mandatory in the case of physical shares or when notarized affidavits are needed. Check your DP’s or RTA’s online portal for the online availability of the said services in your case.
If original share certificates get lost, one needs to apply for duplicate certificates before proceeding with transmission. To apply for duplicate share certificates, usually, an FIR copy, an affidavit of loss, and an indemnity bond would be required. Then, once the duplicate share certificates are issued, one may go on with the process of initiating transmission with them. More time and documentation get added to it, so it’s better to act fast with missing certificates.