Has the last date to add nominee to mutual funds been extended?

economictimes.indiatimes.com:

SEBI).
The deadline to add nominee in mutual funds is September 30, 2023 for now. However, there are chances that SEBI may announce the extension in coming days.

This is because Sebi extended the deadline for existing demat account holders to offer a choice of nomination by three months to December 31, 2023 on September 26, 2023. Previously, the deadline for existing eligible trading and demat account holders to provide a nomination preference was September 30, 2023.

Also read: Trading account nominee rule changed; last date to add demat account nomination extended

According to the CAMS website, “Providing nomination or Opting-out confirmation has already been mandated in the case of new MF investors for folios created from 01-Oct-2022. Nomination in folios held by investors where folio was created prior to 01-Oct-2022 must be complied with on or before 30-Sep-2023 by either submitting nominee details or by providing Opt-out declaration.”

Please keep in mind that if the required information is not registered within the above timeframes, transactions such as Redemptions, SWP, Switch, STP will be frozen in the corresponding folios beginning October 1, 2023.

Also read: Give nominee details for mutual funds by this date to avoid MF folio getting frozen

Mutual fund unit holders can add nominee or opt-out of nomination by providing the declaration.

How many nominees can be added

A maximum of three nominees can be added. When there are several nominations, the percentage of allocation or share should be expressed in whole numbers only, without any decimals, and should sum up to 100%. The nomination request will be deemed invalid and rejected if the sum of the allocation percentages among all of the nominees does not