Quick answer: You can add or change mutual fund nominees online in about 10 minutes through MF Central, the CAMS or KFintech websites, the AMC’s website, or the app you invest through. Since 1 March 2025, SEBI lets you name up to 10 nominees per folio, with a percentage share for each. You’ll need each nominee’s name, relationship, contact details and an ID (PAN, driving licence or the last 4 digits of their Aadhaar). The change is authenticated by OTP or Aadhaar e-sign.
We’ve seen families wait months to claim a parent’s mutual funds because no nominee was registered. With a nominee, transmission needs a death certificate, the nominee’s KYC and a form. Without one, it can need a succession certificate or legal heirship documents. Ten minutes now saves your family a lot of hassle later.
Before you start: check your current nomination
Download a detailed Consolidated Account Statement (CAS). It shows nominee status for every folio. Our guide on checking all your mutual funds with your PAN explains how.
Look for: – Folios showing no nominee or “nomination not registered” – Old nominees (a parent who has passed away, an ex-spouse) – Folios where you opted out years ago without thinking
Step-by-step: add or change a nominee online
Option 1: MF Central (covers all AMCs)
- Log in at mfcentral.com with your PAN and OTP.
- Go to the service requests section and choose Nomination / Update nominee.
- Select the folios (you can choose several at once).
- Enter each nominee’s details and percentage share. Shares must add up to 100%.
- Authenticate with OTP or Aadhaar e-sign and submit.
What goes wrong: the OTP goes to the mobile number registered on your folios. If that’s an old number, update your contact details first, or the request stalls.
Option 2: CAMS / KFintech websites
Both registrars offer a nomination update under their investor services sections. Each request covers the folios that registrar handles, so you may need both.
Option 3: Your investment app
If you invest through RingMoney, you can update nominees for folios held through us in the app. Our advisors can also help you file updates for older folios held elsewhere.
Option 4: Offline
Fill in the nomination form from the AMC website, sign it (all holders sign for joint folios) and submit it at an AMC or registrar branch.
What details do you need for each nominee?
Detail | Notes |
|---|---|
Full name | As on their ID |
Relationship | Spouse, child, parent, sibling, etc. |
Share (%) | Must total 100% across nominees |
ID | PAN, driving licence or last 4 digits of Aadhaar |
Contact | Mobile, email, address |
If the nominee is a minor | Their date of birth and a guardian’s details |
Rules worth knowing (SEBI framework from March 2025)
- Up to 10 nominees per folio, each with a set share.
- Only you can make or change a nomination. It can’t be done by a power of attorney holder.
- Opting out requires an explicit declaration. It’s allowed, but it’s rarely a good idea.
- If you become incapacitated, a nominee can be authorised to operate the account under the safeguards SEBI specified, so the family isn’t locked out of money needed for your care.
- On transmission, nominees can keep the units together as joint holders or split them into separate folios for their share.
- Minor folios can’t have a nominee. The child is the sole holder (how minor folios work).
Nominee vs legal heir: an important difference
A nominee is the person the AMC transfers the units to. Under succession law, they may hold them in trust for the legal heirs named in your will, or for heirs under succession law if there’s no will.
So: – Make your nomination match your will to avoid disputes. – If you want specific people to get specific shares, say so in both places.
What happens to your SIPs?
Changing a nominee doesn’t affect your SIPs, redemptions or the funds themselves. It’s a service request only.
Frequently Asked Questions
How many nominees can I add to my mutual fund?
Up to 10 per folio under SEBI’s rules effective 1 March 2025, with a percentage share for each.
Can I change my mutual fund nominee online?
Yes. Use MF Central, the CAMS or KFintech websites, the AMC’s website, or your investment platform. Authentication is by OTP or Aadhaar e-sign.
Is nomination mandatory for mutual funds?
You must either add a nominee or formally opt out. Folios without either can face restrictions. Adding a nominee is strongly recommended.
Does the nominee become the owner of the mutual funds?
The nominee receives the units on transmission, but may hold them in trust for the legal heirs. A will decides ultimate ownership.
What do nominees need to claim units after a death?
Usually a copy of the death certificate, the nominee’s KYC and a transmission form. Without a nominee, the process can require succession documents. See Mutual Fund Nominee Is Dead: What to Do Now.
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully. RingMoney is an AMFI-registered mutual fund distributor (ARN-320453). Process steps may change; follow the registrar’s or AMC’s current instructions. For estate questions, consult a lawyer.
Related reading: Inherited Mutual Funds From a Parent · KYC & CKYC Guidelines.
