Now you can Transfer Units Non-Demat (SoA) Mode

Step-by-Step Guide: 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.

✅ Step 1: Check Eligibility

• Confirm that you are an individual investor (Resident or Non-Resident Indian).

• Ensure your mutual fund units are held in SoA (non-demat) mode.

• Transfers are not allowed for ETF units.

✅ Step 2: Identify the Transfer Scenario

Choose the appropriate scenario under which the transfer will take place:

✅ Step 3: Gather Required Documents

Prepare the following based on the scenario:

• PAN, KYC, and Aadhaar of both Transferor and Transferee

• Self-attested copies of PAN, Address Proof

• Bank proof of the transferee (cancelled cheque with name printed)

• Relationship proof, if applicable (e.g., birth certificate, legal heir certificate, will, etc.)

• Death Certificate in case of transmission

• Nomination Registration Proof, if applicable

✅ Step 4: Initiate Transfer Request Online

Transfers must be initiated online only via:

1. Mutual Fund RTA Portals:

   • CAMS

   • KFintech

   • MF Central

2. Mutual Fund House Website:

   • Login using your Folio Number / PAN / OTP

   • Navigate to the “Transaction” or “Service Requests” section

   • Choose “Transfer of Units” or “Change in Unit Holder”

3. Fill Online Form:

   • Select Source Folio (Transferor)

   • Transferor PAN
   • Email ID *
   • Mobile No *

   • Enter details of Recipient / Transferee

   • Upload required documents in PDF/JPEG format

   • Provide bank details of transferee for future credit

   • e-Sign / OTP verify the request

✅ Step 5: Acknowledge & Track

• After submitting, you will receive an acknowledgment number via email/SMS.

• Track the status on the portal using your PAN and acknowledgment ID.

✅ Step 6: Wait for Cooling Period

• A 10-day cooling period will be applied before units can be redeemed by the transferee.

• This is to prevent misuse or fraud.

✅ Step 7: Confirmation of Transfer

• On successful verification, the transferee will receive:

  • A new folio number (in most cases)

  • Updated SoA (Statement of Account)

  • Email/SMS confirmation

📌 Additional Notes

• No Stamp Duty or Capital Gains is levied for transfers under inheritance or minor-to-major cases.

• Gift or third-party transfers may have tax implications — consult a tax advisor.

• Ensure KYC is updated for all involved parties before initiating the process.

Steps for Online Submission of Annual Declaration of Self Certification (DSC)