AMFI ARN Renewal Online
In order to expedite the ARN registration and renewal process, AMFI has introduced an online ARN registration and renewal facility for distributors, said an email AMFI sent to distributors.
“Pursuant to the Government’s vision of Digital India, Association of Mutual Funds in India (AMFI) is happy to announce the launch of Online ARN Registration and Renewal process of AMFI Registration”, AMFI said.
“The process is completely paperless and based on Aadhaar ! Of course, you must have a Aadhaar number and your mobile number must be registered / linkedwith your Aadhaar to avail of this online facility.”
Pre-requisites to renew AMFI ARN
Distributors need to furnish Aadhaar cards to register and renew their ARN number.
Currently, distributors have to undergo a mandatory six hours of classroom training in order to renew their ARN. To ease the registration renewal process, NISM has already introduced an online CPE training for distributors.
Once distributors take this training, NISM issues a certificate. Distributors have to send their certificates to CAMS along with a DD of Rs1,500 in favour of AMFI as renewal fee. Typically, the entire ARN renewal process takes around two months.
“What’s more, you won’t have to provide your NISM Passing Certificate for ARN Renewal anymore! The status of your NISM certificate renewal will be ascertained and confirmed with NISM through an automated process of daily data feed which NISM has kindly agreed to provide to CAMS – AMFI unit to facilitate this digital initiative.”
The proposed online renewal facility is expected to reduce the total turnaround time to a few days.
The licence has a validity of three years. Distributors have to renew their ARN six months prior to its expiry.
The renewal fee can be paid online through net banking facility, eliminating the hassle of procuring a bank draft and submitting the same at CAMS POS.
Online ARN Renewal Process:
Renewal of the ARN/EUIN can be carried out post completion of NISM certification exam or attending the CPE. As you are aware, ARN/EUIN is valid for a period of 3 years and the validity thereof is co-terminus with the validity of NISM certification, post which you need to renew the same.
Steps for online AMFI ARN renewal:
- Login to AMFI website and click on the Distributor corner
- Enter your User-id and Password*
- On successful validation of your login credentials, CAMS will fetch information from NISM on NISM certification / CPE completion
- If found to have cleared the exam / CPE you will be able to make the online payment
- Amount due to be paid will be automatically updated
- On successful completion of payment, your request will be processed immediately and ARN/EUIN gets renewed within a few minutes.
*Please note that a separate communication will be sent by CAMS with your User ID and Password to access the online registration / renewal feature.
AMFI ARN Renewal through physical mode:
If you do not have Aadhaar or do not provide the same, you still have the option of applying for ARN/EUIN renewal through the existing physical mode, for which you will need to submit the ARN renewal form physically along with bank draft at any CAMS-POS as per existing procedure.