ARNs expired between March 15, 2020 and December 31, 2021 will no longer be in active status, as NISM has not given any further extension to ARN holders on validity.
In its last circular, NISM had explicitly mentioned that there would be no further extensions. “Candidates who are yet to renew their certificates are therefore advised to do so by enrolling for Exam/CPE/eCPE before the expiry of their certificates as adequate seats are made available. To enroll online visit https://certifications.nism.ac.in.”
This essentially means that AMFI’s circular on renewal of ARN, which was first introduced on August 1, 2020 will practically be applicable from January 1, 2022.
According to the new AMFI ARN renewal norms, AMCs can give your clients to other distributors or simply shift their assets in direct plans if a distributor does not renew his ARN within 3 months of expiry of his ARN.
Further, if a distributor does not renew his ARN within 6 months of expiry, AMFI will permanently cancel his ARN. AMFI will not issue fresh ARN to such distributors again.
So far, AMFI norms did not stipulate any timeline to renew the ARN. However, if you renew your ARN later than six months from the date of expiry, AMCs will forfeit or write off your trail commission. Once you renew your ARN, you will continue to get trail commission on your previous assets i.e. assets that you built before the expiry of your ARN.
