ARN in Mutual Funds is an acronym for AMFI Registration Number (ARN). It is a unique number given to a distributor or mutual fund expert. It is given for trading in different schemes.
According to the Association of Mutual Funds in India (AMFI), it is mandatory for all intermediaries in the marketing and sale of mutual funds to have an ARN. The motto behind this is to protect and safeguard the interests of investors and other parties involved in the transaction. Moreover, it also helps to track the past investments made by the intermediaries on behalf of investors. And to get an ARN, intermediaries must clear an exam conducted by the National Institute of Securities Markets (NISM) and then register with the Association of Mutual Funds in India (AMFI).
Who Can Apply for ARN Number?
As per SEBI and AMFI guidelines, the minimum age of a candidate to apply for ARN is 18. Additionally, the candidate must also have cleared the NISM certification test and must adhere to the code of conduct and other important guidelines.
The following are the eligible
Intermediaries, brokers, or agents
Senior citizens who have completed Continuing Professional Education (CPE)
Corporates engaged in the business of mutual funds
Documents Required for ARN Number in Mutual Funds
To obtain an ARN, applicants must submit the following documents:
A photo identity card like an Aadhar card or PAN card
Proof of bank account
Two passport-sized photos
How to get an ARN Code?
The AMFI has given the responsibility of processing the registration and issuing the ARN to Computer Age Management Services Pvt. Ltd. (CAMS) on its behalf. And, applicants can either apply through offline mode or online mode to get an ARN code.
Intermediaries should fill out the Application Form for allotment of AMFI Registration Number (ARN), which is available online as well as at the AMFI and CAMS offices.
Applicants should submit the application form and Know Your Distributor acknowledgement at the CAMS office. If unable to complete the KYD process, they must submit the KYD application form along with the ARN form.
Applicants should submit two passport-size colour photos and a copy of the NISM certification.
The fee for individuals and proprietorship firms is Rs. 1,770, including GST. Fees and documentation differ for other entities, and one can take reference of the same on the AMFI website.
Benefits of ARN Code
For Investors
It safeguards the interests of the investors as a mutual fund distributor with AMFI will be advising them on mutual fund investments.
Investors can very easily switch to any other mutual fund distributor if they are not satisfied with their current distributor of mutual funds. Their investments and assets will be transferred to other ARN holders. Additionally, they are no longer required to be related to their former distributor.
Mutual fund distributors must also abide by a set of moral standards set forth by the Association of Mutual Funds in India. This further protects investors and their financial assets.
It gives investors assurance that a distributor with NISM certification and good knowledge of mutual funds associates with them.
It helps in determining the brokerage of the intermediary.
For Mutual Fund Distributors
It provides a unique identification code for each mutual fund distributor, adviser, or agent.
The distributor becomes eligible to sell mutual funds to their clients legally.
Renewal Process of ARN Number
The ARN is valid for a period of 3 years. ARN holders / EUIN holders should apply for the renewal of their ARN / EUIN cards 6 months before the expiration of the validity period.
If the renewal request is before the expiry date of the ARN / EUIN then the validity period of the ARN / EUIN extends. On the other hand, if the renewal request is after the expiry date, then the validity would start from the date on which one submits the renewal application.
In the case of Corporate ARN holders, the registration letter extends for an additional three years starting on the day the renewal application was submitted.
Frequently Asked Questions
Who allots ARN Number?
The Association of Mutual Funds in India (AMFI) allots an ARN number to a mutual fund distributor so that they can help their customers in making investments in mutual fund schemes.
What is the validity of the ARN Code?
The validity of the ARN code is 3 years. Once it expires, one can renew it by filing an application for the same.
No. To apply for ARN, you must pass an exam conducted by the National Institute of Securities Markets (NISM).
Can a distributor have more than one ARN number?
No. As per AMFI, a distributor should not hold more than one ARN number.
Can the registered intermediaries be de-registered?
Yes, the registered intermediaries can be de-registered due to the following reasons: Breaking the rules & guidelines Significant charges of offences by a judicial or regulatory authority. A consumer court has upheld claims of severe carelessness.
To find your ARN (AMFI Registration Number) for a mutual fund, check your account statement, transaction confirmation email, or contact your mutual fund distributor or broker. They should provide you with this unique identifier associated with your investment transactions.
In simple terms, the ARN code is the verification provided by the AMFI for genuine and authenticated mutual fund experts. The ARN code is an alphanumeric code which has 6 components. Example, AA 08 02 22 123456 8.
The AMFI also provides a service on its website to locate the nearest arn verified distributor and goes by the name ARN Locator. The ARN Code has a specified format that has 6 components.It is an alphanumeric code. Sample Code - BB 07 10 22 666666 2.
ARN stands for AMFI Registration Number. It is a unique identification number that is assigned to those who are registered with the Association of Mutual Funds in India (AMFI). It is mandatory for all mutual fund distributors, agents, and advisors to have an ARN in order to operate in the mutual fund industry.
Go to Transaction > Payments.Find the transaction and open this.Scroll down to the 'Refunds' section.Under the 'ARN' column, you can View and Copy the ARN.
Acquirer Reference Numbers (ARNs) are unique 23-digit numbers. They are linked to online Visa and Mastercard debit and credit card transactions between a merchant's bank (the acquiring bank) and a cardholder's bank (the issuing bank). An ARN is created when a transaction flow takes place via a payment gateway.
ARN Number is the Application reference number or code that is allotted to a qualified mutual fund distributor or an expert who can use it to trade in various mutual fund schemes. Only a fund distributor or an expert who has been allotted an ARN (Application Reference Number) can sell or deal in mutual funds.
Step 1: First, make your way to the GST official portal. Step 2: Proceed to the 'services' tab. Under this tab, you will find a header by the name of 'registration'. Step 4: Now, click 'track application status' and enter your ARN in the given space.
ARN is used to reference a specific resource when you orchestrate a system involving multiple AWS resources. For example, you have an API Gateway listening for RESTful APIs and invoking the corresponding Lambda function based on the API path and request method.
ARN stands for Acquirer Reference Number and plays a critical role in the payments landscape. It's a unique 23-digit number assigned to every Visa and Mastercard card transaction processed online.
ARN is assigned to the credit card transaction as it moves through the payment flow. So if a refund appears to be delayed or missing, the unique number can be used by your bank to help trace the refund.
The ARN allows the vendors to offer GST on a bill of supply without the GSTIN. The moment they get the GSTIN, they need to issue a new invoice with GSTIN.
Q: What is the key difference between an ARN number and a transaction ID? Ans: An ARN is an Acquirer Reference Number that is created during credit card transactions from the merchant's banks to the cardholder's bank. The transaction ID is a unique identification code developed during electronic funds transfer.
URN or Unique Registration Number is generated when you register for i-SIP on the website of the fund you interested in investing. This URN will be sent to you on your registered mobile number as well as your email. You will need this URN number while setting up SIP via net banking.
Account Statement: Your folio number is on your mutual fund account statement. These statements are usually sent to you periodically by the fund house, either via email or physical mail. Online Account: With an online account with the mutual fund company, you can log in and access your Folio Number from your dashboard.
Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.
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