InvestorQ : I have recently shifted my residential address. Do I need to inform my DP?
Mitali Bhutta made post

I have recently shifted my residential address. Do I need to inform my DP?

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Priyanka N answered.
2 years ago

It is always advisable to inform any change in address immediately to the DP. Nowadays, most of the DP communication happens through email and through online access. So, the importance of your residential address has reduced substantially. However, any important documents like your debit instruction slip or your passwords will be sent to your residential address only. Hence to ensure that these confidential documents reach you properly and on time, ensure that you intimate your DP about a change of address immediately. There is an advantage. You just need to write to the DP once for a change of address. Once that is done, it automatically gets updated at the end of all the companies whose shares or bonds that you are holding in your demat account. The process is also quite simple and just entails filling up and signing up a small form. A sample of an address change form is enclosed for your perusal. This will give you an idea of how to change your address with your DP. Here is the form.
You can use the same form of IIFL whether your DP account is with NSDL or with CDSL. Write clearly whether you are changing your permanent address or your residential address. In case of a change in the telephone numbers, mention that also in the form. You will be required to furnish proof of address for your new address. This can either be a sale deed in case of an owned house or a rental agreement. The DP also accepts documents like electricity bill, landline bill, water bill etc as long as the linkage can be established. In case it is an individual account, you must sign it exactly as you signed in the DP master. In the case of joint holdings, all the joint holders must sign in the same order. If you don’t take care of these technical things, then your request is likely to be rejected.