How-to multi-nominee percentage allocation

How to update multiple nominees on mutual fund folio

From WebNotes, a public knowledge base. Last updated 19 May 2026. Reading time ~3 min.

Procedure

Decide allocationUp to 3 nominees per folio. Decide each nominee’s percentage share. Total must equal 100%. Specify relationship to holder.
Gather nominee detailsFor each nominee: name (matching ID), DOB, address, relationship, PAN (if available). For minor nominees: guardian name + address.
Download Multi-Nominee FormAMC’s form supports multiple nominees. SEBI-prescribed format. Available via AMC portal, CAMS/KFin service centre, or branch.
Fill the formEach nominee row: details + percentage. Holder’s signature. Joint holder’s signature (if joint folio).
Submit to AMCAMC portal upload, CAMS/KFin service centre, or AMC branch. Standard signature verification.
AMC processes3-7 working days. Updated nominee structure visible in SoA / CAS.
Update across multi-folioEach folio needs separate update. MFU / MF Central enable bulk update across multiple folios.

Multiple nominees on MF folio lets you pre-decide inheritance allocation. SEBI allows up to 3 nominees per folio with percentage shares summing to 100%. Smoothest path for family inheritance planning.

Conflict-of-interest disclosure. This guide is published by WebNotes Editorial Team for informational purposes. WebNotes has no commercial relationship with any AMC. No affiliate commission is earned.

Step-by-step procedure

See the procedure infobox above.

Multi-nominee benefits

Benefit	Detail
Pre-decided allocation	Eliminates inheritance dispute
Multiple heirs covered	Spouse + children + others
Operational simplicity	No will / probate at transmission
Tax efficiency	Each nominee inherits with cost basis

Sample allocations

Scenario	Allocation
Spouse + 2 children	Spouse 50%, each child 25%
Equal split among 3 children	33%, 33%, 34% (totals 100)
Spouse + 1 child + parent	Spouse 60%, child 30%, parent 10%
Only spouse	100% to spouse (use single-nominee form)

Minor nominees

For minor nominee:

Specify guardian (typically parent).
Guardian operates the inheritance until minor turns 18.
At majority: transitions to nominee’s direct ownership.

Multi-AMC update

For multiple folios across AMCs:

MFU’s eCAN: bulk nominee update across MFU-covered AMCs.
MF Central: per-folio update in unified interface.

External references

References

SEBI (Mutual Funds) Regulations, 1996.
AMFI Best Practice Guidelines on multi-nomination.
SEBI nominee opt-out circular (2023).

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 19 May 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.

SEBI cap	Up to 3 nominees per folio
Allocation	Specified as percentage; must sum to 100%
Minor nominee	Allowed with guardian
Update process	AMC's multi-nominee form; SEBI-prescribed format