AMFI Eases Mutual Fund Claims Process for Heirs of Deceased Investors

The Association of Mutual Funds in India has rolled out procedural changes designed to make it simpler for families to settle mutual fund claims following the death of an investor.

The modifications address long-standing administrative challenges that have complicated the claims process for nominees, particularly when documentation contains minor inconsistencies. AMFI's revised framework seeks to align with broader regulatory efforts aimed at protecting investor interests.

Among the key changes are two main provisions. First, when an investor's registered address differs from other available records, Asset Management Companies may now refer to the most current address information on file, provided it is backed by supporting documentation. Second, to handle discrepancies in the recorded name or signature of a deceased unit holder, AMCs can apply a standardized framework distinguishing between minor and major mismatches—mirroring the approach already established for Registrars and Transfer Agents under SEBI guidelines issued on February 6, 2026.

The updated procedures have been distributed to all member AMCs and are now in effect. To ensure uniform implementation across the industry, AMFI plans to conduct training programs with AMCs to reinforce the revised processes and maintain consistency with regulatory standards.