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Considering the convenience of online submission of annual Declaration of Self-Certification (DSC), AMFI has reduced the grace period for MFDs to submit annual DSC from six months to three months.
With this, MFDs will have to submit their annual DSC by September 30, 2022.
Remember that AMCs can withhold/forfeit your trail commission if you did not submit this declaration form by September 30, 2022.
In a circular, “All mutual fund distributors are required to submit an annual DSC in the prescribed format within 3 months after the end of each financial year i.e. by June 30, failing which payment of all accrued commission shall be withheld by the AMCs from July 01, till the time the DSC is submitted. Further, a grace period of 3 months from June 30 (being the due date for submission of annual DSC), i.e. up to September 30 is allowed for submission of the DSC. If the annual DSC is not submitted by September 30, the commission withheld for non-submission of DSC shall be forfeited.”
AMFI has started facilitating online submission of DSC in April 2020 and many MFDs have been using it extensively, said AMFI.
You can submit your annual DSC online through AMFI website with the help of two onetime passwords (OTPs) – mobile number OTP and email id OTP.
Here is the step-by-step guide to upload DSC:
- Visit distributor corner on AMFI website and click on online ARN renewal module with your existing log-in and password. If you don’t have log-in credentials, send an email from your registered email id to sd_amfi@camsonline.com. CAMS will send you user ID. However, you will have to set password by using ‘forgot password’ option
- Click on the ‘update profile’ and choose the icon ‘Self Declaration’
- Select ‘OTP’ and click on ‘Next’
- Generate OTP and enter both the OTPs sent to your registered mobile number and email id to submit your request
- On successful completion, the system will reflect a message – ‘Annual Self Declaration form submitted successfully’
You can write to AMFI at sd_amfi@camsonline.com for any query or clarification.
