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AMFI has urged distributors to tell their clients to opt in or opt out of nomination before September 30, 2023.
As per SEBI norms, all existing individual investors whether holding units singly or jointly, will have to nominate or opt out of nominations before September 30, 2023.
Investors who fail to comply with these regulations will not be able to make redemptions, switch-outs, etc. as non-compliance will result in freezing of folios for debits, clarified AMFI.
“You are therefore requested to ensure that your mutual fund clients comply with nomination (or opt out of nomination) before September 30, 2023, to avoid any inconvenience”, urged AMFI in its recent communication.
Notably, investors can file nominations either physically or through the online mode.
Online - Registrar and Transfer Agents (RTAs), CAMS and KFintech facilitate nomination updation for all individual non-demat folios. Investors can click here to update nomination details with CAMS and for the KFintech nomination page, they can click here.
However, in the case of Demat folios, investors should contact their Depository Participant (DP).
Offline - Investors can submit physical forms with CAMS, KFintech or AMCs at the designated Investor Service Centres.
