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AMFI has increased the ARN registration and renewal fees by 100% effective October 1, 2024.
With this, the new ARN registration and renewal fee for individual distributors have been increased to Rs.3000 and Rs.1500 excluding GST, respectively. Such a fee was Rs.1500 (new registration) and Rs.750 (renewal).
Similarly, AMFI has doubled EUIN registration and renewal fees to Rs.1500 and Rs.750, respectively.
AMFI has increased registration and renewal fees by 100% for all categories of distributors be it individual, sole proprietary, LLP, HUF or private limited.
In April 2021, AMFI had reduced the registration and renewal rates by 50% during the covid times.
The current fee structure is in the line with pre-covid times, said AMFI. In a circular, AMFI said, “The matter was reviewed by the AMFI Board at the Board Meeting held on Sept. 06, 2024 while discussing AMFI's Financials & Income & Expenditure and considering that the things are absolutely normal now and the economy in general and MF industry in particular has progressed immensely since the time the covid pandemic receded, the Board felt that it would be in order and justified to restore/ revert to the original / pre-Covid fee structure.”
Let us look at the table to know more:
|
MFD category |
Registration Fees (in Rs.) |
Renewal Fees (in Rs.) |
|
Banks |
4,00,000 |
2,00,000 |
|
Regional rural banks & Development credit banks |
1,00,000 |
50,000 |
|
Non banking financial Company |
1,00,000 |
50,000 |
|
Public Ltd. Co. |
4,00,000 |
2,00,000 |
|
Pvt. Ltd. Co. |
40,000 |
20,000 |
|
One Person Company |
40,000 |
20,000 |
|
LLP |
40,000 |
20,000 |
|
Partnership Firm |
20,000 |
10,000 |
|
Urban Co-Op. banks, societies, trusts, HUFs |
20,000 |
10,000 |
|
Post Office |
15,000 |
7,500 |
|
Micro Finance Institution |
15,000 |
7,500 |
|
Proprietorship firm |
3000 |
1,500 |
|
Individuals |
3000 |
1,500 |
|
Employees of MFDs (EUIN holders) |
1500 |
750 |
* Plus GST @18%
