ARN Number in Mutual Fund – How to apply

by admin | April 3, 2024

Introduction

An Application Reference Number (ARN Full Form) of ARN Number is a unique number given to licensed mutual fund distributors and experts. What is ARN number in mutual fund? Why is it so important for an investor? Let’s find out below.

What is an ARN Number?

ARN Number is a unique number or code that is given to a qualified mutual fund expert or distributor. He can use this code while trading in various mutual fund schemes. It is also known as Application Reference identifier. The most crucial purpose of this ARN number is to establish credibility and transparency among mutual fund investors when they choose a mutual fund distributor for investments. 

During the selling and marketing processes, Asset Management Companies (AMC) are obliged to use this ARN Code while interacting with fund managers. Allotting this code to any expert or distributor is the responsibility of the Association of Mutual Funds in India (AMFI Full Form). Under the moniker ARN Locator, the AMFI also offers a service on its website that helps users find the closest authorized reseller.

The ARN Code is based on a specific format that contains 6 elements. It is an alphanumeric code. One sample code is – BB 07 10 22 666666 2.

BB – Alphabetical Code

07 – State Code

10 – Month

22 – Year

666666 – Six digits system-generated code

2 – Checksum digit

Who are entitled to get an ARN Number?

• The ARN Code (NISM) is assigned to all Mutual Fund brokers, mediators, and agents who have obtained certification from the National Institute of Securities Markets.
• Each Intermediary is given a photo ID card with their unique ARN Code, address, and duration of validity.
• A letter of registration including the ARN code, the name of the individual or organization, and the ARN’s validity period is given to corporate entities as well as private citizens.
• Employees of the company receive Employee Unique Identification Number (EUIN) Cards that contain similar information.
• Seniors who have fulfilled the requirements of the application form’s code of conduct by completing Continuing Professional Education (CPE)

People Also Read:- Best Paper Trading Apps In India

How to apply For ARN Number?

The ARN code requires either the CPE certificate or the NISM certificate. The applicant has the option to apply online or offline for the ARN Number after receiving the certificate. On behalf of the Association of Mutual Funds in India, M/s Computer Age Management Services Pvt. Ltd. (CAMS) is in charge of processing registrations and issuing ARNs. (AMFI). The steps involved in applying each mode are explained below.

There are two ways to obtain an ARN Number – Online and Offline.

Online Approach

You must adhere to the instructions in order to apply for an ARN number online. You need to bring your Pan card with you before you begin the registration process.

• Visit AMFI Official Website(https://www.amfiindia.com/)
• Enter PAN Number and Mobile Number
• A new window will open only if your NISM details are registered on the platform.
• Next, upload the documents required and pay the application amount.
• Do remember that the fees will differ according to the corporates and other units!! You can check the given link.

Offline Approach

The following paperwork must be enclosed and submitted to the closest CAMS office, where your biometric must be completed, in order to apply for an ARN offline:

• Duly filled out fresh Individual registration application form.
• Demand Draft in favor of “ASSOCIATION OF Mutual Funds IN INDIA” payable locally.
• Self-attested copy of the Valid NISM Series V-A Certificate.
• 3 Stamp Size Colour Photograph.
• Duly Filled and Signed KYD Individual Application and Photograph should be affixed in the KYD Application Sign across.
• Self Attested Copy of Pan Proof, Address Proof, and Bank Proof (Cancelled Cheque Copy/Latest Bank A/c Statement)

People Also Read:- become a mutual fund advisor in India

Renewal of ARN Code

The ARN Number has a three-year validity period. If your ARN validity is due for renewal, you should schedule CPE/ECPE training; otherwise, you must schedule the NISM Certifications Exam to renew your ARN number.

Individuals, senior citizens, and employees must submit an application for the renewal of their EUIN for ARN, together with a copy of their CPE certificate or NISM Mutual Fund Distributors Certification Examination passing certificate and two stamp-sized colored photographs, in order to be eligible for ARN renewal.

The ARN renewal procedure cannot be finished in the absence of valid documentation.

Registration Procedure for CPE/eCPE Training

You must register for the CPE/ECPE Training if your ARN number is due to expire and you wish to renew it before the deadline. The registration procedure is as follows.

Step 1: Login to your NISM account and choose ‘Enrolment’.

Step 2: From the dropdown, choose the item that shows ‘Enroll for CPE/eCPE.

Step 3: Choose modules (Mutual Funds) and categories like normal renewal/ grandfathered by age or grandfathered by experience. Most people choose normal renewal.

Step 4: Now choose a preferred date and time slot and make payment online through the NISM portal.

Step 5: Your login credentials for CPE will be sent to you via email and SMS a day before the training date.

Step 6: These login credentials will remain valid till the time of training completion.

Difference Between CPE and eCPE

	CPE	eCPE
Mode	Online Mode	Offline Mode
Centre	Physical centre. Visit the chosen center on the training day	No physical visit will be required
Prerequisites	Id Proofs and admit card	A laptop or desktop with a minimum 2GB RAM and an Internet connectivity with a minimum speed of 2MBPS
Duration	5-6 hours	4-5 hours
Doubt Session	One on one questions can be put up	Doubts are cleared in a LIVE session

People Also Read:- futures and options trading

How to do an ARN Status Check?

There are several ways to do an ARN status check including:

Go to the AMFI website: Go to the official website of the Association of Mutual Funds in India (AMFI). The website provides a means of ARN number verification.

Here is where you can utilize the ARN number checker: Look for the ARN range verification tool on the AMFI website.

Complete the ARN code: In the ARN variety check the device, and enter the ARN code of the mutual fund distributor whose identity you would like to verify. An ARN, or unique alphanumeric code, is assigned to every registered distributor.

Please send the data in once the ARN code has been entered, click the “Submit” or “Verification” button to begin the verification technique.

Analyze the results: The relevant information related to the distributor will be displayed by the ARN number check tool.

Analyze the effects: You can get the vital information related to the distributor’s ARN code by using the ARN range test tool. This can include the name of the distributor, their contact details, their registration history, and any other details AMFI has provided.

People Also Read:- Stock trading for beginners

FAQs on ARN Number in Mutual Fund

Check out different FAQs regarding to ARN Number in Mutual Fund here.

Q.1. Who issues the ARN Code?

The ARN Code is issued by the Association of Mutual Funds in India (AMFI), which is the industry association of mutual funds in India. AMFI regulates the mutual fund distribution business and issues ARN Codes to individuals or entities engaged in mutual fund distribution as distributors or agents.

Q.2. How can I download an AMFI Certificate?

You can download the ARN certificate/ ARN card by visiting the official website of the Association of Mutual Funds in India (AMFI).

Q.3. How do I find my ARN number for a mutual fund?

Your ARN (Amfi Registration Number) is typically provided by the mutual fund distributor or agent who facilitated your mutual fund investments. You can find your ARN number on the mutual fund statement provided by your distributor or agent.

Q.4. What is the validity period of ARN Code?

The validity period of the ARN Number is 3 years. 

Q.5. What is the minimum age limit for the application of ARN Number?

The applicant’s minimum age should be 18 years while applying for an ARN Number. 

Q.6. Can a middle possess more than one ARN Code?

A mutual fund distributor is not permitted to possess more than one ARN Code or letter of Registration.

Q.7. What are the documents needed for applying the ARN Code?

The required documents for ARN code are NISM certificate copy, aadhaar card copy, pan card copy, bank account statement, and 2 passport-sized photographs.