- Important Notes for Transactions
- About FSM Global
- Account
- Fees, Charges & Calculations
- Funds (Unit Trusts)
- Bonds
- Stocks & ETFs
- Managed Portfolios
- Cash Solutions / Parking Facility / Payments
- Regular Saving Plan (RSP) and Top-Up Plan
- Insurance
- FSM Global Debit Card
- Product Financing
- Security and Safety
- Estate Planning
- Others
Deceased Account, Suspended/Dormant Account
FSM Global will only change the account to an Estate account once we are informed by the relevant parties.
For CPF/SRS investments, these will be converted into cash holdings once the account is changed to an Estate Account.
As deceased accounts cannot transact online, any withdrawal must be done by visiting our office. The authorised person must bring along their NRIC and the following documents:
1) Original Death Certificate
2) Original Letter of Probate (with will) or Letter of Administration (without will)
For deceased client who is under bankrupt status, a discharge letter from the Insolvency & Public Trustee Office (IPTO) is required to be submitted as well.
Deceased accounts are still subjected to the daily market price fluctuation.
For CPF/SRS investments, these will be converted into cash holdings once the account is changed to an Estate Account.
As deceased accounts cannot transact online, any withdrawal must be done by visiting our office. The authorised person must bring along their NRIC and the following documents:
1) Original Death Certificate
2) Original Letter of Probate (with will) or Letter of Administration (without will)
For deceased client who is under bankrupt status, a discharge letter from the Insolvency & Public Trustee Office (IPTO) is required to be submitted as well.
Deceased accounts are still subjected to the daily market price fluctuation.
In the event that the main applicant has passed away, the beneficiary holder (upon 18 years old) is required to bring the death certificate and his/her own IC to our office. We shall open a personal account for the beneficiary holder and then transfer all the holdings registered under the beneficiary account into the new account. Thereafter the beneficiary will have rights towards the holdings and he/she will be able to purchase, switch or liquidate. The beneficiary can decide to liquidate the funds if wishes to.
If the beneficiary is a minor (below 18 years old), then the surviving parent will automatically become the legal guardian. The legal guardian will be able to give instructions. If the beneficiary wants to keep the investments, then he/she has got to open a new account with existing parent as main applicant and minor as beneficiary and transfer the holdings from old account to the new one.
If the beneficiary is a minor (below 18 years old), then the surviving parent will automatically become the legal guardian. The legal guardian will be able to give instructions. If the beneficiary wants to keep the investments, then he/she has got to open a new account with existing parent as main applicant and minor as beneficiary and transfer the holdings from old account to the new one.
When a person passes away with a Will, a Probate is a Court Order authorising the executor(s) appointed by the deceased person under the Will to administer his estate according to the directions contained in his Will.
Please refer to the following website for further information.
https://www.judiciary.gov.sg/family/probate-and-administration
When a person passes away without a Will, it is a Court Order authorising the person(s) named in it to administer the estate of the deceased person in accordance with the law.
If you do not log in to your FSM Global account for 24 months or more, your account will be set to dormant.
To reactivate, go to Support > Account Reactivation.
Reactivation methods:
- Singapore NRIC (personal account holders): Reactivate instantly via MyInfo (Singpass).
- Non-Singaporean personal accounts / Beneficiary accounts:
- Download and complete the Reactivation Form.
- Email it to clienthelp@fsmglobal.sg with:
- A copy of your NRIC/Passport, and
- A proof of address dated within the last 3 months.
- Corporate accounts: Submit the Corporate Account Opening Form to request reactivation.
According to MAS regulations and guidance on Prevention of Money Laundering and Countering the Financing of Terrorism, financial institutions need to conduct regular account reviews to identify and know their customers. Therefore, your account will be suspended due to the following:
- Incomplete employment details
- Expired passport
- Pending completion of Enhance Client Due Diligence
If your account is suspended, you are unable to place a new buy order and deposit funds. Any exiting RSP and Cash Top-Up Plan will be suspended automatically. You will only be able to perform the following transactions:
- Redemptions
- Withdrawals
- Transfer out of holdings
- Incomplete employment details
- Expired passport
- Pending completion of Enhance Client Due Diligence
If your account is suspended, you are unable to place a new buy order and deposit funds. Any exiting RSP and Cash Top-Up Plan will be suspended automatically. You will only be able to perform the following transactions:
- Redemptions
- Withdrawals
- Transfer out of holdings
For accounts under bankruptcy status, clients are only allowed to perform sell transactions. For cash holdings, all sale instructions must be made through the Official Assignee.
To remove the bankruptcy restriction and restore normal account access, a Discharge Certificate issued by the Official Assignee must be submitted. Please note that the certificate must be a certified true copy.
To remove the bankruptcy restriction and restore normal account access, a Discharge Certificate issued by the Official Assignee must be submitted. Please note that the certificate must be a certified true copy.
FSM Global is not involved in the estate tax collection process. The executor of the estate is required to seek independent professional tax advice on whether they would need to file the estate tax return.