Lesson 29 of 50 for advisers · Sub-distributors and EUINs on every sale · 3 min read · Reviewed 13 Nov 2026
It is processed in the Regular plan. The investor has 30 days to give a valid EUIN or switch to Direct; after that the commission is lost for good. The only exception is a sale with no interaction at all, where the investor signs AMFI’s declaration that the EUIN was left blank on purpose.
Every employee or salesperson who deals with investors needs an EUIN. ARN plus a valid EUIN go on every Regular plan transaction, exchange orders included.
An EUIN is tied to the person’s PAN and goes with them when they change jobs.
A firm needs at least one certified employee with an EUIN mapped to its ARN, or its provisional ARN is cancelled after 6 months.
Sub-distributors hold their own ARN and quote it with their salesperson’s EUIN. The principal distributor is accountable for them.
Key idea: Fund houses review execution-only declarations from time to time.
Try the short quiz on this page to check what stuck.
Since 22 Jul 2026, NISM Series V-D covers both mutual funds and SIFs. V-A still covers mutual funds only.
A private company or LLP pays ₹40,000 to register and ₹20,000 to renew, plus 18% GST.
Three years, the same as the NISM certificate.
For learning only, not investment advice. Built in India by a team that tracks its own money on Reva.