The Securities and Exchange Board of India has advised the Association of Mutual Funds in India to simplify standards for claiming mutual fund units or proceeds after the death of a unit holder, and AMFI has amended those standards accordingly. The changes are aimed at reducing operational difficulties for the relatives of deceased investors during the transmission process while aligning practices with investor protection objectives. Under the updated standards, asset management companies may rely on the latest available address of a deceased unit holder where recorded addresses do not match, if supported by relevant documents. For name and signature discrepancies, AMCs may use a framework similar to the guidelines prescribed for registrars to an issue and share transfer agents in SEBI's master circular of February 6, 2026. That framework allows self-certified documents such as Aadhaar or a passport to address name mismatches, while signature mismatches are to be handled through procedures based on the nature of the discrepancy. SEBI has also advised AMFI to provide training to relevant entities on the transmission process so that practices across asset management companies are aligned with the regulatory guidelines.
Securities & Exchange Board of India2026-07-17
Securities and Exchange Board of India streamlines mutual fund transmission claims, easing address, name and signature mismatch requirements
The Securities and Exchange Board of India has pushed through simpler mutual fund transmission standards via amendments by the Association of Mutual Funds in India. The changes let asset management companies address deceased investors' address mismatches using supported latest records and apply an existing framework for name and signature discrepancies. AMFI has also been asked to train relevant entities to align practices across firms.