The Procedure for conversion of Mutual Fund units into dematerialised form through the Bank DP for NSDL and CDSL are slightly different and are given below:
The Client desirous of converting mutual fund units represented by Statement of account into dematerialised form shall submit to the DP the Conversion Request Form along with the Statement of account showing the holding of mutual fund units. The specimen of Conversion Request Form is given as Annexure B
Separate Conversion Request Form for each folio number must be submitted by the demat account holder.
Conversion Request Form for lock-in and free units under the same ISIN should be also be taken separately from the client.
It should also be ensured that the mutual fund units submitted are admitted for demat. The Conversion Request Form submitted by the client must be completely filled and duly signed. The name in the demat account held should be in the same pattern of holding mentioned on the Statement of Account and Conversion Request Form.
The number of pages of statement of account mentioned on the Conversion Request Form should be verified.
After due verification, the Demat department would sent the Conversion Request Form and the Statement of Account to the AMC/ RTA
The AMC/RTA will after due verification confirm the conversion request sent by the Department, and credit the mutual fund units in the client 's account.