Guide to Mutual Fund Nomination

Nomination is a simpler and inexpensive way to make things easy for one’s near and dear ones to claim the money in the mutual fund folio, through minimal paperwork in the event of any unforeseen circumstances.

Nomination is a facility that enables an individual unitholder to nominate a person(s), who can claim the Units held by the unitholder or the redemption proceeds thereof in the event of any unforeseen circumstances. New folios/accounts opened by individuals with single holdings are now mandated to have nomination facility. Where there are joint holdings, with more than one holder, nomination is not mandatory. However, even in this case, financial planners always recommend that new folios should have a nominee.

As per regulatory guidelines, nomination is mandatory for all unitholder(s) holding units in single mode, to submit either the nomination form or the declaration form for opting out of the nomination in physical mode or online mode as per the choice of the unit holder(s).

Online nominations forms shall be validated via digital signature, Aadhaar-based e-sign, or two-factor authentication and for physical forms submission, the regulated entity shall verify signatures as per mode of holding and in case of thumb impressions, it should be witnessed by two persons.

The nomination process is as simple as follows:

• Click here to update the details ONLINE now on the KFIN MFS website!
  (Online facility can be used only when PAN is registered in the Folio and either Email or mobile is registered in the folio)
Or
• Click here to download the nomination/ Opt-out form.Please submit the duly filled form signed by all the unitholder(s) at your nearest Investor Service Center (DISC) along with the below set of documents/information:

a. any one of the following personal identifiers of the nominee – PAN or Driving Licence number or last 4 digits of Aadhaar (only the document number is required to be provided; not the document);
b. full contact details of nominee(s) such residential address, e-mail address, telephone / mobile number;
c. relationship of nominee(s) with the investor
d. Date of birth of nominee(s) (if nominee is a minor)

As a mutual fund investor:

• You can register up to ten nominees in a folio
• You can specify the percentage of the amount you want to allocate to each of them (only whole numbers are accepted / without decimal), totalling to 100%
• If you’re nominating a minor, you have to mention the name and other particulars of the minor’s guardian
• Nominee may also act on behalf of incapacitated investors to operate investors folio.
• Click here to Opt-out of nomination. Upon choosing this option, you will receive an OTP. Upon submitting this OTP, you will have a choice to either furnish the unique acknowledgement number of having submitted the declaration form to opt-out in physical mode with wet signature at any of the office of the concerned regulated entity or capture their opting-out through video recording by the regulated entity as per extant norms in this regard

The above provisions shall be made applicable with effect from March 1, 2025

We request you to complete it for all your investments, as soon as possible. Please ignore this communication in case Nominee details are already updated / completed across all your investment(s).

For more details on the Regulation, please Click here

For further information, you can call our customer care team on 1800-2090-777 or email us at customercare@miraeasset.com.