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Today i.e. Sept 30 is the last day to submit annual declaration of self-certification (DSC) under grace period. Failing to submit it will force AMCs to completely forfeit trail commission due to non-compliance.
While the last date to submit annual DSC was June 30, AMFI gives a three months grace period to distributors to submit annual DSC. However, trail commission of such a distributor will be withheld till the time of submission of annual DSC or September 30, whichever is earlier.
In a communication, AMFI said, “Please note that if the annual DSC is not submitted by June 30, 2023, payment of all accrued commission shall be withheld by the AMCs from July 01, 2023 till the time the DSC is submitted. Further, if the annual DSC is not submitted by September 30, 2023 the commission withheld for non-submission of DSC shall be forfeited as mentioned in AMFI circular no. CIR/ ARN/ 23/ 2022-23 dated July 25, 2022. Hence it is in the interest of the MFDs to submit the DSC well in time, to avoid any inconvenience.”
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’
However, MFDs working with national distributors as sub brokers can send a scanned copy of annual DSC to the main broker before September 30.
