What is a Consolidated Account Statement (CAS) and how does it help legal heirs trace investments?

A Consolidated Account Statement (CAS) is a single or combined account statement that shows the details of transactions made by an investor during a month across all mutual funds and other securities held in their demat accounts.

To receive a CAS, investors should ensure that their PAN is updated with their depository participant (DP) or stockbroker.

What does a CAS document entail?

The CAS include details of mutual funds linked to an investor's PAN, along with securities held in demat accounts across CDSL and NSDL. The document will also reflect any holdings in bonds reflected through depository channel. Apart from showing the holdings, the statement provides details of transactions executed, including purchase and sale transactions.

SEBI revised timeline for issuance of CAS

In February 2025, the capital markets regulator, SEBI, rationalised the timeline for the issuance of CAS. Under the revised framework which took effect from May 14, 2025 , the asset management companies (AMCs) and mutual fund registrars and transfer agents (MF-RTAs) are required to send monthly common PAN data to depositories on or before the fifth day from the month end. The depositories, in turn, consolidate and dispatch the monthly CAS to investors who have opted for delivery via electronic mode (e-CAS) by the twelfth day from the month end and to investors that have opted for delivery via physical mode by the fifteenth (15th) day from the month end.

Earlier, the AMCs /MF-RTAs were required to provide the data with respect to the common PANs to the depositories within three days from the month end, pursuant to which, the depositories had to consolidate and dispatch the CAS within ten days from the month end.

Similarly, in respect of half yearly CAS, it has been decided that the AMCs/MF-RTAs will provide the data with respect to the common PANs to the depositories on or before the eighth day of April and October every year. The depositories will then consolidate and dispatch the CAS to investors that have opted for e-CAS on or before the eighteenth day of April and October and to investors that have opted for delivery via physical mode by the twenty first day of April and October.

Will heirs be able to track an investor’s investment via CAS after his death?

Yes, heirs through this important financial document can ascertain the different securities and mutual funds held in the deceased investor’s name. This they can do by checking the investor’s past mails with the search keywords such as ‘NSDL CAS’, ‘CDSL CAS, ‘ Consolidated Account Statement’.

This is reliable as NSDL and CDSL send CAS to registered email IDs.

If the document cannot be located, legal heirs may approach NSDL or CDSL and request a copy of the CAS or inquire about the process of obtaining the same. To obtain the CAS statement, you are required to attach a few documents, including the deceased investor’s death certificate, his or her PAN, and a document proving that you are a legal heir and your identity document.

You can also approach MF transfer agents, KFintech and CAMS for furnishing the CAS. They will primarily provide the details of all the mutual funds held by the investor.

A CAS thus provides information about investments held electronically in the securities market and through demat accounts. However, it does not include information relating to physical share certificates or traditional savings and investment products.