AMFI reduces ARN Registration & Renewal Fees for MFDs by 50 per cent

EUIN Registration and Renewal Fees for employees reduced to INR 500

Association of Mutual Funds in India, AMFI, the mutual fund industry trade body and the registering body for mutual fund distributors, as a distributor-friendly initiative, has reduced the ARN (AMFI Registration Number) Registration and Renewal Fees for most distributor types, including individual distributors, by 50 per cent of the existing rates, effective May 1, 2021. 

By reducing the ARN and EUIN registration and renewal fees, AMFI also wants to encourage new and young individuals across the country to reach out to large base of small savers, especially in the Tier II and III cities and towns, to channelize financial savings into mutual fund asset class. 

Commenting on the initiative, Mr Nilesh Shah, Chairman, AMFI said: “We aim to have greater number of small savers to benefit from long term investment solutions offered by the mutual fund industry. This initiative of reducing the registration and renewal fees would help larger number of individuals from across the country to come into Mutual Fund distribution fold and contribute to the last mile connectivity.” 

Speaking on the occasion, Mr N.S. Venkatesh, Chief Executive, AMFI said, “The reduced fees for ARN and EUIN registration and renewals for the Mutual Fund Distributors would go a long way in helping the cause of Mutual Fund expansion. We also want the younger generation to look at Mutual Fund Distribution as an exciting career opportunity and with this reduction in fees we hope to attract far higher number of new Mutual Fund distributors which would help the industry to enhance penetration and channelize small savings into long term market-linked savings solutions.”

“Rising affinity for Mutual Fund asset class would get a strong fillip with this reduction in the ARN Registration and Renewal Fees for the Distributor fraternity,”         Mr Venkatesh added.

Revised AMFI Registration Fees w.e.f. 01-May-2021

Revised AMFI Registration Fees w.e.f. 01-May-2021
Category Existing Fees* Revised Fees*
Individuals 3000 1,500
Proprietorship firm 3000 1,500
Micro Finance Institution 15,000 7,500
Post Office 15,000 7,500
Urban Co-Op. Banks, Societies, Trusts, HUFs 20,000 10,000
Partnership Firm 20,000 10,000
LLP 40,000 20,000
One Person Company  40,000 20,000
Pvt. Ltd. Co. 40,000 20,000
Employees of MFDs (EUIN holders)  1500 500
(No change)
Banks  4,00,000 4,00,000
RRBs & DCBs 1,00,000 1,00,000
NBFC 1,00,000 1,00,000
Public Ltd. Co. 4,00,000 4,00,000
*Plus GST@18% 


Revised AMFI Registration & Renewal Fees including GST

Revised AMFI Registration & Renewal Fees including GST
Category Registration Fees* (₹) GST @18% Total  Renewal Fees* (₹) GST @18% Total 
Individuals 1,500 270 1,770 750 135 885
Proprietorship firm 1,500 270 1,770 750 135 885
Micro Finance Institution 7,500 1,350 8,850 3,750 675 4,425
Post Office 7,500 1,350 8,850 3,750 675 4,425
Urban Co-Op. Banks, Societies, Trusts, HUFs 10,000 1,800 11,800 5,000 900 5,900
Partnership Firm 10,000 1,800 11,800 5,000 900 5,900
LLP 20,000 3,600 23,600 10,000 1,800 11,800
One Person Company 20,000 3,600 23,600 10,000 1,800 11,800
Pvt. Ltd. Co. 20,000 3,600 23,600 10,000 1,800 11,800
Employees of MFDs (EUIN holders) 500 90 590 500 90 590
Banks  4,00,000 72,000 4,72,000 2,00,000 36,000 2,36,000
RRBs & DCBs 1,00,000 18,000 1,18,000 50,000 9,000 59,000
NBFC 1,00,000 18,000 1,18,000 50,000 9,000 59,000
Public Ltd. Co. 4,00,000 72,000 4,72,000 2,00,000 36,000 2,36,000


Registration: ARN/EUIN fee structure (inclusive of GST) applicable w.e.f. May 01, 2021

 

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