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PPF account- How to Change name of depositor

When a depositor changes his name, g. on adoption or otherwise or in the case of female depositor, on marriage, the depositor should be required to intimate the fact in writing to the post office and produce the pass book of the account. The intimation should bear the depositor’s signature with the old as well as with the new name, and the depositor should also be required to sign a fresh application form with the new name. The depositor’s signature as written with the old name on the intimation should be compared with the specimen on record. The depositor’s new name should be written clearly in red ink in the pass book and the ledger card above the entry of the old name which should be penned through in such a manner as to leave it still legible. The corrections in the ledger card and the pass book should be supported by the entry “Vide depositor’s intimation dated _____” which should be initialed and dated by the Postmaster. The pass book should then be returned to the depositor. The number of the account should be written at the top of the intimation which together with the old application card/form should be kept in a guard file.

(2) In sub offices one specimen of the new signature should be taken. The intimation with the fresh application form should be forwarded to the head office entered in the list of documents. The new specimen signature obtained from the depositor should be pasted in the S.S. Book over the old specimen in such a manner as to allow inspection of the old specimen signature. Suitable corrections should also be made in the sub office ledger in the manner prescribed above.

[Rule 72(1) of P.O.S.B. Manual Volume I]

Note:- The above procedure applicable to P.O. Savings Accounts can also be applied to PPF accounts. The fresh application form in Form A and nomination form in Form E applicable to PPF accounts will be taken from the subscriber.

Depositor will also required to submit all the documents related his Change of Name to Complete KYC Formalities.

(Compiled by Taxguru Team)

Categories: Income Tax
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