Transfer of Mutual Fund Units in Non-Demat (SoA) Mode
As per SEBI directive, mutual fund units held in the non-demat mode i.e. statement of accounts (SOA) can now be transferred without dematerialization and can be availed across all mutual fund schemes except ETFs. This online-only initiative is designed to simplify the transfer process while minimizing the risk of fraudulent transfers.
Who Can Transfer Units?
This facility is available only to individual investors under the Resident/Non-Resident Individual category. Transfers are permitted under the following scenarios:
Minor to Major: A minor unitholder who has turned to major unit holder and can add a parent, guardian, sibling, and spouse etc. as joint holder to the folio.
Surviving Joint Holder: Upon demise of a joint holder, a surviving unit holder can add new joint holders.
Nominee to Legal Heir: A nominee of a deceased unitholder can transfer units to legal heirs of the deceased unitholder, post the transmission of units in the name of the nominee.
Transfer to Siblings: Mutual fund units can be transferred between siblings.(Stamp Duty Applicable)
Gifting of units: Investors can gift mutual fund units to family members or third parties.(Stamp Duty Not Applicable)
Transfer of Units to Third-Party: Mutual fund units can be transferred to any third party.(Stamp Duty Applicable)
Addition/Deletion of unit holder: Investors can add or remove joint holders from the folio as required.(Stamp Duty Not Applicable)
CAMS link: https://digital.camsonline.com/transfer
Kfintech link : https://mfs.kfintech.com/transferofUnits/
MFCentral: https://app.mfcentral.com/links/transfer-of-units
