How to Find a Deceased Person’s Bank Accounts, Property & Unclaimed Assets in India
- Pratyush Banke
- Sep 25
- 7 min read
Learn how to trace and claim unclaimed assets of deceased in India, including bank accounts, property, EPF, insurance & cryptocurrency. Step-by-step guide for legal heirs.
Introduction - How to Locate Unclaimed Assets of Deceased in India
Losing a loved one is emotionally challenging, and managing their financial legacy can feel overwhelming. In India, millions of bank accounts, EPF balances, insurance policies, property holdings, shares, and even cryptocurrency wallets often remain unclaimed because families are unaware of their existence.
Government data highlights the scale of the issue: unclaimed bank deposits exceeded ₹67,000 crore as of June 2025, inoperative EPF accounts totaled ₹8,505 crore in 2023–24, and unclaimed life insurance funds stood at ₹22,237 crore at the start of 2023–24.
Successfully tracing a deceased person’s assets requires legal authority, verified documentation, and a structured approach. Without following the proper procedures, families may struggle to access savings, investments, and other valuable assets.
This comprehensive guide helps heirs, legal heirs, and executors efficiently locate and claim assets in India, covering bank accounts, EPF, mutual funds, property, insurance, shares, and cryptocurrency, while ensuring compliance with legal and regulatory requirements.
Who Can Legally Search for a Deceased Person’s Assets?
Accessing a deceased person’s financial information in India is strictly regulated, and not everyone has the legal right to do so. The entitlement to trace and claim assets largely depends on whether the deceased left a will:
If a valid will exists: The executor named in the will has the legal authority to manage, trace, and distribute the estate under the Indian Succession Act, 1925.
If there is no will (intestate): The legal heirs are entitled to claim the assets, but they must obtain official authorization through legal processes such as a succession certificate or Letter of Administration (LOA).
Although the UDGAM portal has made it easier to identify unclaimed bank deposits, beneficiaries still need to approach multiple banks, fund houses, and depositories to gather the necessary details for obtaining a succession certificate.
Essential Documentation to Trace a Deceased Person’s Assets
Before starting the process of locating and claiming a deceased person’s assets in India, it is crucial to gather the required legal and financial documents. These documents not only streamline the search but are also mandatory for legal recognition:
Death Certificate – Original or notarised copy; serves as the primary document for initiating all asset claims.
Identity Proof of Legal Heirs – Aadhaar, PAN, passport, or voter ID of all claimants.
Will – If the deceased left a valid will, it identifies the executor and the intended distribution of assets.
Succession Certificate, Probate, or Letter of Administration (LOA) – Required for legal heirs in cases of intestate succession (no will).
Asset Records – Documentation of bank accounts, fixed deposits, mutual funds, insurance policies, property agreements, and other investments.
These documents form the backbone of any successful asset tracing process, ensuring that legal authorities, banks, and financial institutions can verify and release the assets efficiently.
Where to Begin Your Search for a Deceased Person’s Assets
Tracing a deceased person’s assets can be complex, but starting systematically can make the process smoother. Focus on both professional guidance and digital footprints to uncover financial and physical assets.
1. Leverage Professional Guidance
Wealth Managers and Chartered Accountants (CAs): These professionals often maintain comprehensive records of the deceased’s financial assets, including investments, bank accounts, and tax filings.
Income Tax Returns (ITR) and Consolidated Account Statements (CAS): Reviewing past ITRs and CAS linked to the deceased’s PAN can provide clues about hidden or overlooked assets, including mutual funds, shares, and other investments.
2. Explore Digital Footprints
Emails and Mobile/Banking Apps: Transaction history, payment receipts, and investment notifications can reveal bank accounts, insurance premiums, or mutual fund holdings.
Social Media Accounts: Online activity may hint at property interests, stock investments, or cryptocurrency holdings
Digital Devices: Check documents stored on desktops, laptops, or cloud storage for contracts, account details, or investment records.
Asset-Specific Tracing Methods
Tracing a deceased person’s assets requires asset-specific strategies, as each financial product or property type follows different verification and legal processes.
1. Bank Accounts
Review passbooks, cheque books, SMS alerts, and email statements for account details and transaction history.
Use the RBI UDGAM portal to search for unclaimed bank deposits by providing the deceased’s name, PAN, date of birth, or other identity proofs.
2. Property
Visit the local sub-registrar’s office in the city or district where the property is located.
Examine property tax receipts, mortgage statements, or bank locker documents to gather clues.
A nominal fee can be paid to obtain ownership and registration records.
3. Mutual Funds and Shares
Contact fund houses or Registrar & Transfer Agents (CAMS, KFintech) to trace mutual fund investments.
Use the Sebi MITRA platform to locate inactive or unclaimed mutual fund folios.
For shares, review NSDL/CDSL account statements, old dividend cheques, and annual reports.
Check the IEPF portal to find unclaimed shares, dividends, or matured deposits.
4. Insurance
Bank statements often reveal premium payment histories, which can help locate policies.
All insurers in India maintain online portals for searching unclaimed life insurance policies.
5. Employee Provident Fund (EPF)
Access EPF accounts using UAN, PAN, and registered mobile numbers.
Verify previous employment records for multiple UANs or PF member IDs, as some individuals may have more than one account.
Approach the relevant EPFO branch to consolidate accounts and claim the balance.
6. Cryptocurrency
Trace crypto holdings through transaction emails, exchange accounts, or KYC-linked platforms.
Accessing self-custody wallets without private keys or recovery phrases is extremely difficult.
Estate planning for cryptocurrency requires documenting wallet types, access credentials, and including clear instructions in a legally recognised will.
Common Pitfalls and How to Avoid Them
Legal Pitfalls:
Delay in Documentation: Waiting too long to obtain succession certificate can complicate claims
Incomplete Heir Identification: Missing legal heirs can invalidate the entire process
Jurisdictional Errors: Applying in wrong court jurisdiction delays proceedings by months
Search Pitfalls:
Assuming No Assets: Many families stop searching after finding basic accounts, missing significant investments
Digital Oversights: Overlooking online-only banks, digital mutual funds, or crypto holdings
Geographic Limitations: Not searching in all cities/states where the deceased lived or worked
Employer History: Forgetting to check all previous employers for EPF or gratuity benefits
Financial Pitfalls:
Nominee vs Legal Heir Confusion: Nominees are not always legal owners; proper succession is still required
Joint Account Assumptions: Joint accounts may still require succession documentation for full access
Small Amount Neglect: Ignoring small deposits that may have grown significantly over time
Best Practices for Estate Planning
Proper estate planning ensures heirs can access assets efficiently and reduces disputes. Follow these key practices:
Create a comprehensive inventory of all assets, including bank accounts, investments, insurance policies, real estate, and digital assets.
Store the inventory securely and share it with a trusted executor, lawyer, or family member.
Regularly update estate documents after significant life events such as marriage, divorce, or acquisition of new assets.
For a comprehensive guide on managing finances and understanding the necessary steps after the death of a family member, refer to our detailed article on Managing Finances After the Death of a Family Member
Summary Checklist: Tracing a Deceased Person’s Assets in India
Asset Type | Key Steps / Documents |
Bank Accounts | Passbooks, UDGAM portal, IT returns |
Property | Sub-registrar office, tax receipts, mortgage statements |
Mutual Funds | Fund houses, RTAs, Sebi MITRA, CAS |
Shares/Securities | NSDL/CDSL, dividend checks, IEPF portal |
Insurance | Bank statements, insurer websites |
EPF | UAN, PF member ID, previous employers, EPFO branch |
Cryptocurrency | Transaction emails, exchange KYC, private keys/wallet info |
Key Resources and Contact Information
Government Portals
UDGAM (Unclaimed Bank Deposits): www.udgam.rbi.org.in
IEPF (Investor Education and Protection Fund): www.iepf.gov.in
MITRA (Mutual Fund Investment Tracing and Retrieval Assistant): mitra.sebi.gov.in
Income Tax Department: www.incometax.gov.in
Helpline Numbers
RBI Banking Ombudsman: 14448
EPFO Unified Helpdesk: 1800 118 005
IRDAI Integrated Grievance Management System: 155255 / 1800 4254 732
Securities Appellate Tribunal (SAT): 022-22837062 / 022-22837061 / 022-22021520
Frequently Asked Questions (FAQs)
1. Who can legally trace a deceased person’s assets in India?
Only executors named in a valid will or legal heirs with a succession certificate or Letter of Administration (LOA) have the legal authority to trace and claim a deceased person’s assets.
2. Can unclaimed bank deposits be recovered easily?
Yes, unclaimed bank deposits can be traced through the RBI UDGAM portal. However, proper documentation and identity verification of the claimant are required for successful recovery.
3. How can I find unclaimed EPF accounts of a deceased relative?
Start by collecting UANs or PF member IDs from past employment records. Then, approach the relevant EPFO branch with supporting documents such as the death certificate and succession certificate to claim the funds.
4. Is it possible to claim cryptocurrency held by the deceased?
Cryptocurrency can only be claimed if the access credentials (private keys or recovery phrases) are available. For KYC-linked exchange accounts, legal heirs can approach the exchange for assistance. Self-custody wallets without keys are nearly impossible to access.
5. Are insurance claims difficult to trace?
Not anymore. IRDAI guidelines and modern insurer portals make it easier to locate unclaimed life insurance policies. Bank statements showing premium payments can also help identify policies.
6. How do I check if my deceased parent had a bank account in India?
You can search using the RBI UDGAM portal by providing their PAN, voter ID, or date of birth. Additionally, review passbooks, SMS alerts, and mobile banking apps for transaction history.
7. Can legal heirs claim EPF without a UAN?
Yes. Even without a UAN, heirs can use the PF member ID from old pay slips along with legal documents such as the succession certificate to approach the EPFO office and claim the EPF balance.
8. How do I find out if a deceased person had mutual funds or shares?
Check the Consolidated Account Statement (CAS) linked to the deceased’s PAN, contact Registrar & Transfer Agents (CAMS, KFintech), or search the IEPF portal for unclaimed shares, dividends, or matured deposits.
9. What happens to cryptocurrency after death in India?
Funds in KYC-linked crypto exchange accounts can be released to legal heirs upon verification. However, self-custody wallets require private keys or recovery phrases, without which access is impossible.
10. Why is having a Will important for asset discovery?
A valid Will simplifies asset transfer, avoids legal disputes, and grants the executor legal authority to manage, trace, and distribute the deceased’s estate efficiently.
Conclusion
Tracing a deceased person’s assets in India can be overwhelming, but with the right approach, legal documentation, and systematic effort, it becomes manageable. From bank accounts and EPF to property, mutual funds, insurance, and cryptocurrency, each asset class requires specific steps for discovery and claim.
Leveraging professional guidance, reviewing digital footprints, and following best practices in estate planning can help heirs avoid delays and legal disputes.
At Kustodian.life, we specialize in helping families reclaim unclaimed assets, including EPF, bank accounts, and provide Will and estate planning services to ensure your loved one’s financial legacy is protected and easily accessible.
Secure your family’s financial future today.
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