If you are interested in becoming a mutual fund distributor in India, you need to obtain an AMFI Registration Number (ARN) and an Employee Unique Identification Number (EUIN) from the Association of Mutual Funds in India (AMFI). In this blog post, we will explain what these numbers are, why they are important, and how you can get them through a simple online process.
What is AMFI?
AMFI is the trade association of all the mutual funds registered with the Securities and Exchange Board of India (SEBI). It was established in 1995 to promote the development and growth of the mutual fund industry in India and to protect the interests of investors. AMFI also sets ethical and professional standards for mutual fund distributors and monitors their compliance.
What is ARN?
ARN stands for AMFI Registration Number. It is a unique code that identifies an individual or a corporate entity as an AMFI Registered Mutual Fund Distributor (ARMFD). To obtain an ARN, you need to pass the NISM Series V-A: Mutual Fund Distributors Certification Examination conducted by the National Institute of Securities Markets (NISM) and register with AMFI by filling an online application form and paying a fee. The ARN is valid for three years from the date of issue and can be renewed online before expiry.
What is EUIN?
EUIN stands for Employee Unique Identification Number. It is a unique code that identifies an employee or a sales person of a mutual fund distributor who interacts with investors for selling mutual fund products. The EUIN is linked to the ARN of the distributor and helps in tracking the sales trail of mutual fund schemes. To obtain an EUIN, you need to be employed by an ARN holder and register with AMFI by filling an online application form and paying a fee. The EUIN is valid for three years from the date of issue and can be renewed online before expiry.
Why are ARN and EUIN important?
ARN and EUIN are important for mutual fund distributors and their employees because:
- They are mandatory as per SEBI regulations for selling mutual fund products in India.
- They help in ensuring transparency and accountability in the mutual fund industry.
- They help in preventing mis-selling and protecting investor interests.
- They help in enhancing the credibility and professionalism of mutual fund distributors.
How to get ARN and EUIN online?
The online registration process for ARN and EUIN is simple and convenient. You can complete it in a few minutes from the comfort of your home or office.
Here are the steps to follow:
- Visit the AMFI website www.amfiindia.com and click on “Distributor Corner”.
- Click on “Become a Mutual Fund Distributor” and select “Online Registration”.
- Enter your PAN number and mobile number and verify your details.
- If your NISM details are registered on the platform, a new window will open where you can fill the online application form for ARN or EUIN.
- Upload your photograph, signature, PAN card copy, NISM certificate copy, Aadhaar card copy (optional), and any other documents as required.
- Pay the registration fee online using debit card, credit card, net banking, or UPI.
- Submit your application and download your acknowledgement receipt.
- You will receive your ARN or EUIN card or letter of registration by email within 24 hours.
ARN and EUIN are essential for becoming a mutual fund distributor in India. They help you to sell mutual fund products legally and ethically. You can get them easily through a paperless online registration process on the AMFI website. So, what are you waiting for? Register today and start your journey as a mutual fund distributor!