The Association of Mutual Funds in India (AMFI) has announced major changes to make it easier for families and nominees to claim mutual fund units after the death of an investor.
The new rules aim to reduce paperwork, solve common documentation issues, and make the transmission process faster and smoother.
The updated Standard Operating Procedure (SOP) has already been shared with all Asset Management Companies (AMCs) and is effective immediately.
Easier Process for Families and Nominees
AMFI introduced these changes after reports showed that many families were facing delays due to small mistakes in documents during the claim process.
With the new system, the focus will be on reducing unnecessary hurdles while ensuring that nominees can receive the mutual fund units without avoidable delays.
The move is also in line with SEBI’s objective of protecting investors and their families.
New Rule for Address Mismatch
One common issue during claims is when the deceased investor’s address is different across various documents.
To solve this, AMFI has advised AMCs to accept the latest available address, as long as valid documents supporting the new address are submitted.
This will help prevent claims from getting delayed because of address-related differences.
Uniform Rules for Name and Signature Errors
Another major change relates to mismatches in the investor’s name or signature.
Earlier, different AMCs could follow different practices while handling such cases. Now, all AMCs will follow a common framework based on SEBI’s Master Circular dated February 6, 2026.
This will ensure that minor and major errors in names or signatures are handled in the same way across the mutual fund industry.
New Guidelines Effective Immediately
AMFI has directed all its member AMCs to implement the revised SOP with immediate effect.
The association will also conduct training programs through AMCs to ensure that the new rules are implemented uniformly and that all regulatory guidelines are followed properly.
These steps are expected to make the mutual fund transmission process quicker, simpler, and less stressful for investors’ families.
