What is the process to close a Dormant Account?

For such accounts CDSL has a prescribed procedure wherein the:

DP can initiate closure of such accounts by giving a notice of 30 days to the clients.

Send prescribed format letter to client. The copy of the letter which is dispatched to client and POD Details has to be retained. If the client does not revert within the stipulated time frame, then the account can be initiated for closure.

Prescribed format is available as per the path given below:

Biz-Ops > Information > Downloads > Notice for closure of Dormant Account OR DP pending dues (09th August 2012)

The retained copy of letter, Proof of Delivery (Original POD) and the unsigned account closure letter, need to be sent to HO for further processing.

The DP as well as the Trading account needs to be closed. Enter the request in:

Biz ops --> Request --> Account Opening --> Account Deactivation.

Either Date of letter and POD should be same or POD should be postdated from the date of letter.

It is CDSL’s requirement to close the account in DP within 7 days from date of receipt of Closure form from Client. Once the DP is closed, Trading Account also gets deactivated. Hence, you are requested to send the form to HO immediately for processing and ensure that there is NIL balance in all ledgers.

Further, Clarification on Closure can be requested through Service Request from below given path:

BIZ OPS > REQUEST > HELP > SERVICE REQUEST > ACCOUNT MODIFICATION > Request to closure/A/c transfer/transmission..

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