Form ISR-1
Also written ISR-1 · Form ISR-1 (PAN and KYC updation)
SEBI's standard form for registering or updating PAN and KYC details on physically held securities — since 1 January 2022, no other RTA service request is processed until it is on file.
In plain language
An investor who still holds physical share certificates has to give the RTA certain basic identity details before the RTA will do anything else for them. SEBI standardised the form for this across every listed company: Form ISR-1.
It is used for registering, or updating, PAN and KYC details for securities held in physical mode. Since 1 January 2022, this is not optional paperwork on the side — it is a gate. No other service request or complaint gets processed until it clears.
How it works
Form ISR-1 is the SEBI-prescribed common form (set out in the workbook's Annexure 13.4) for registering or updating PAN and KYC details for physically held securities.
The rule attached to it: from 1 January 2022, no investor service request or complaint will be processed by an RTA until PAN, KYC and nomination documents/details are received. Form ISR-1 is how an investor supplies the PAN/KYC half of that requirement. It sits alongside a small family of related forms the workbook names elsewhere: Form SH-13 (registering a nomination), Form SH-14 (changing or cancelling a nomination), Form ISR-3 (opting out of nomination, after any existing nomination is cancelled) and Form ISR-4 (a fresh instrument of transfer, used when a claimant needs to complete a transfer for a lost-in-transit certificate).
A worked example
Mrs. Kulkarni holds 800 physical shares of Ratnagiri Chemicals Ltd and wants to update her bank account details after her PAN was never linked to her folio. Since her folio has no PAN or KYC on record, the RTA cannot act on her bank-detail change request directly.
She first submits Form ISR-1, attaching her PAN and address proof. Only once the RTA has processed this and her PAN/KYC is on file does it proceed to process her separate change-in-bank-details request. Had she instead wanted to stop receiving a nomination reminder, she would use Form ISR-3 — after first cancelling any existing nomination — not Form ISR-1.
Why NISM asks about it
Chapter 13, section 13.2.5. Expect the 1 January 2022 cut-off date, after which PAN/KYC/nomination details are a precondition for any RTA service, and the ability to tell Form ISR-1 (PAN/KYC) apart from SH-13, SH-14 and ISR-3 (all nomination-related).
Common exam traps
- Form ISR-1 is about PAN and KYC, not nomination — nomination has its own forms (SH-13, SH-14, ISR-3).
- 1 January 2022 is a hard gate: an RTA is not permitted to act on other service requests or complaints for a folio missing this information, regardless of how routine the other request is.
- This applies to physical holdings. Dematerialised holdings route KYC updates through the DP, not this RTA form.
Check yourself
1.Holders of physical securities in listed companies must furnish certain details for each folio. What happens from 1 January 2022 if they have not done so?
- a)The RTA will not process any investor service request or complaint until PAN, KYC and nomination documents or details are received
- b)Their folios are frozen and the shares moved to the IEPF
- c)Their dividends are paid only by physical warrant
- d)Nothing — the requirement is advisory
Show the answer
Answer: (a) The RTA will not process any investor service request or complaint until PAN, KYC and nomination documents or details are received
"All holders of physical securities in listed companies are mandatorily required to furnish PAN, nomination/ opt-out of nomination, contact details, bank account details and specimen signature for their corresponding folio numbers."
And the consequence: "It is to be noted that from January 1, 2022 onwards, no investor service requests/ complaints will be processed by RTA till PAN, KYC and Nomination documents/ details are received."
The common form for this is Form ISR-1.
Option B is wrong — the workbook links IEPF transfers to unclaimed amounts; its Do's warn against leaving dividends unencashed, not against missing KYC.
Option C is wrong — no such rule is stated.
Option D is wrong — the word used is "mandatorily".
Where this is taught
Free preparation for NISM Series II-ARelated terms
- Change of addressThe investor service request to update the address on a folio — signed by the first named holder, backed by PAN and a fresh address proof, and confirmed to both the old and the new address.
- Change of bank detailsThe service request to update the bank account on a physical folio: signed by the first holder as per specimen, supported by an original cancelled cheque bearing the holder's name, processed within 15 days.
- Letter of ConfirmationThe letter an RTA issues instead of a physical certificate after processing a duplicate, transmission, split or similar request — valid for 120 days, within which the holder must demat the shares through a DP.