How to Find (and Remove) Your ARN Distributor from Mutual Fund Folios

Your mutual fund folio carries a code you probably never noticed: an ARN — AMFI Registration Number — that identifies the distributor attached to your investment. That code is not cosmetic. It is the mechanism by which trail commission flows out of your NAV every month and into a bank's or broker's account. Finding your ARN, understanding what it means, and removing it when you switch to Direct are three steps most investors skip — and then wonder why the switch is incomplete.

Quick answer: Your ARN is visible in your Consolidated Account Statement (CAS) under each folio's scheme details. To switch to Direct, you do not remove the ARN separately — placing a switch request to the Direct plan of the same fund replaces the ARN with "ARN-0" automatically. Here is the full picture.

What an ARN Code Is and Why It Matters

AMFI (Association of Mutual Funds in India) registers every mutual fund distributor — banks, independent financial advisors, brokers, aggregator platforms — and assigns each one a unique ARN code. The format is "ARN-" followed by a number (for example, ARN-12345 or ARN-00001 for certain large banks).

When you buy a mutual fund through a distributor, that distributor's ARN is stamped on your folio at the AMC level. From that point, the AMC pays trail commission to that ARN holder every month, calculated as a percentage of your folio's NAV. This is separate from what you explicitly pay — it comes from the fund's Total Expense Ratio (TER), which is charged daily against the fund's assets before NAV is calculated. You never see an invoice. The commission is invisible, but it is real.

The EUIN (Employee Unique Identification Number) is a secondary code on each transaction that identifies the specific employee within the distributor firm who recommended the investment. SEBI introduced EUIN in 2012 to create an audit trail at the individual advisor level. If your bank RM pushed you into a fund, their EUIN is on the transaction. You can find it in your account statement from the AMC (not always in the CAS summary, but in the detailed transaction report).

The Commission Flow

Here is how trail commission works in practice:

1. You invest ₹1 lakh in a Regular plan fund with 1.8% TER (the direct plan is 0.8%).
2. The AMC charges the fund 1.8% per year from its asset pool.
3. Of that 1.8%, approximately 0.9–1.0% is paid to the ARN holder (your distributor) as trail commission.
4. The remaining ~0.8% covers AMC operating costs and fund management fee.

On a ₹10 lakh folio, this translates to approximately ₹9,000–10,000 per year flowing to the distributor. Over 10 years, with corpus growth at 12%, you have paid roughly ₹1.5–2 lakh in cumulative trail commission, with no service guaranteed in exchange.

If you would rather have a fee-only advisor review your complete folio — ARN history, trail commission estimate, and switch plan — book a free portfolio audit.

How to Find Your ARN in the CAS

Your Consolidated Account Statement (CAS) is the authoritative record of all your mutual fund folios across all AMCs. It is issued by CAMS, KFintech (formerly Karvy), or both. You can download it from:

• MF Central (mfcentral.com) — log in with PAN + OTP, request "Consolidated Account Statement (Detailed)"
• CAMS (camsonline.com) → Investor Services → CAS / Account Statement
• KFintech (kfintech.com) → Investor Corner → Statement of Account

Request the "Detailed" or "With Transaction Details" version, not the summary. The summary CAS shows current values; the detailed version shows folio-level metadata including the distributor ARN.

In the CAS PDF, look for lines like:

Folio No: 12345678 / XX
Nominee: [Name]
PAN: XXXXX1234X
Mode of Holding: Single
ARN: ARN-12345

Or within the scheme entry for that folio:

Scheme: SBI Bluechip Fund - Regular Plan - Growth
ARN: ARN-00001  EUIN: E123456

If you see "ARN-0" or "Direct", that folio is already on the Direct plan — no distributor is attached. If you see a numeric ARN (ARN-12345, ARN-00001), a distributor is earning trail commission on that folio.

Identifying the Distributor from the ARN

The ARN number alone does not tell you the distributor's name. To find out who holds a specific ARN:

1. Go to AMFI's ARN lookup: amfiindia.com → Intermediaries → ARN Holder Lookup (or search "AMFI ARN holder check").
2. Enter the ARN number. The result shows the registered entity name, type (individual IFA, bank, corporate distributor), and registration status.
3. Cross-reference: ARN-00001 is SBI Mutual Fund's distributor arm. ARN-00002 is UTI AMC. Banks like HDFC Bank, ICICI Bank, Axis Bank each have their own registered ARNs (plus their subsidiary ARNs for different channels).

This lookup tells you who is receiving trail commission from your folios — which is often a surprise. Investors who bought through a bank sometimes find the ARN belongs to a third-party distributor the bank sold the folio to, not the bank itself.

The EUIN Field — When It Matters

The EUIN tracks the specific employee who recommended the transaction, not just the firm. SEBI requires the EUIN to be recorded on every transaction ticket for advice-based sales. If the EUIN field is blank, it means the investor either self-executed the transaction or the distributor recorded it as a "non-advised" sale.

When does the EUIN matter to you?

• SCORES complaint: If you are filing a complaint against your bank RM for mis-selling, the EUIN on the original transaction is evidence that a specific employee recommended it. The SEBI complaint system uses EUIDs to identify individuals.
• Audit trail: If your RM changed employers or the branch was restructured, the original EUIN still identifies who sold you the fund.
• Not required for switching: You do not need to reference the EUIN to switch plans. It is a backward-looking audit field.

How to Remove the ARN — The Formal Process

"Removing the ARN" is a slightly misleading phrase. What actually happens when you switch from Regular to Direct is that the folio's plan type changes, and as part of that change, the ARN is replaced with "ARN-0" (the code for self-purchased or direct plans). You cannot remove an ARN while staying in the Regular plan.

Route 1: Online Switch Request via MF Central

This is the fastest and most complete route:

1. Log in at mfcentral.com with PAN and OTP.
2. Go to "Service Requests" → "Switch Request".
3. Select the folio.
4. Source scheme: the Regular plan (e.g., "Mirae Asset Large Cap Fund - Regular Plan - Growth").
5. Target scheme: the Direct plan of the same fund (e.g., "Mirae Asset Large Cap Fund - Direct Plan - Growth").
6. Enter the units or amount to switch (enter "All Units" for a full switch).
7. Confirm with OTP.

MF Central handles this across most major AMCs in a single session. The switch is processed at T+1 (next business day) for equity funds. After processing, your CAS will show the folio under the Direct plan with ARN-0.

Route 2: AMC Investor Portal

If MF Central does not support your specific AMC, log in to the AMC's own investor portal and place the switch request there. The process is the same: select Regular plan as source, Direct plan as target.

Route 3: Written Request to AMC (for physical folios)

If your folio was opened with physical forms and you cannot access the online portals (for example, older folios where the PAN is not linked digitally), you can submit a written switch request to the AMC's registrar (CAMS or KFintech).

Sample request letter format:

Date: [Date]
To,
The Registrar / Investor Services
[AMC Name] / CAMS / KFintech
[AMC/Registrar Address]

Subject: Request to Switch from Regular Plan to Direct Plan

Dear Sir/Madam,

I, [Full Name], holder of Folio No. [XXXXXXXX] under [AMC Name], 
request you to switch the following holding from the Regular Plan 
to the Direct Plan of the same fund:

Fund: [Fund Name - Regular Plan - Growth Option]
Folio No: [XXXXXXXX]
Units to Switch: All units / [specific number]
Target Scheme: [Fund Name - Direct Plan - Growth Option]

PAN: [Your PAN]
Registered Mobile: [Mobile No]
Registered Email: [Email]

I understand this switch will be treated as a redemption and fresh 
purchase for tax purposes and will generate a capital gains statement.

Please process this request and update the ARN to ARN-0 (Direct) 
for the target folio.

Yours sincerely,
[Full Name]
[Signature]
[Date]

Submit this with a self-attested copy of your PAN card to the nearest CAMS or KFintech service centre, or to the AMC's investor service branch.

What Happens After the ARN Is Removed

Once the switch is processed:

• The original Regular plan folio reflects a full redemption. A capital gains statement is generated for tax purposes.
• A new Direct plan folio is created (or units are credited to an existing Direct plan folio for the same fund, if you have one).
• The new folio carries ARN-0. The distributor's trail commission stops from the day the switch is processed — not retroactively.
• Your SIP standing instructions on the Regular plan folio are not automatically transferred. You must set up a new SIP on the Direct plan folio.
• The tax implications depend on your holding period and unrealised gains. For the full tax math, see The Tax Cost of Switching Regular to Direct.

What About Ongoing SIPs in Regular Plans?

Switching existing units to Direct does not stop future SIPs from going into the Regular plan. If you have an auto-debit SIP into the Regular plan of a fund, that SIP continues into the Regular plan even after you switch the accumulated corpus to Direct.

You need to stop the Regular plan SIP (via NACH mandate cancellation with the AMC or your bank) and start a new SIP on the Direct plan of the same fund. Both steps are available on MF Central, the AMC portal, and platforms like Kuvera. The NACH cancellation typically takes one billing cycle to take effect — plan accordingly so you do not accidentally invest another SIP instalment into the Regular plan.

FAQ

Do I need the distributor's permission to remove their ARN from my folio?

No. The folio is yours. You have the right to switch plans, change distributor association, or move to Direct without the distributor's knowledge or consent. SEBI regulations explicitly permit this. If your distributor tells you that you need their approval to switch, that is incorrect.

My CAS shows multiple ARN codes across different folios. Do I need to remove each one separately?

Yes, each folio's switch request is separate. However, MF Central allows you to place multiple switch requests in a single session. If you have 8 folios across 4 AMCs, you can process all of them in one sitting on MF Central. Kuvera's bulk migration tool also handles this across AMCs.

What if the ARN belongs to a bank that has closed my relationship or where I no longer have an account?

The ARN and trail commission association with that bank continues regardless of whether you have an active banking relationship. The commission flows to the ARN holder as long as your folio is in the Regular plan. Closing your bank account does not remove the ARN from your mutual fund folios. You must still place an explicit switch request to Direct to stop the commission.

Can I verify that the ARN has been removed after the switch?

Yes. Download a fresh Detailed CAS from MF Central or CAMS after the switch is processed (typically 3–5 business days). The new Direct plan folio should show ARN-0 under the scheme details. If it still shows the distributor ARN, raise a service request with the AMC's registrar.

Is there any cost to switching — beyond the capital gains tax?

No. AMCs do not charge a transaction fee for Regular-to-Direct switches. SEBI mandates that switches within the same fund (same AMC, same folio) are processed without exit loads if the original units have completed the exit load period. Units within the exit load window (typically 1 year for equity funds) may attract an exit load — check the specific fund's scheme information document for the exit load schedule.

Identifying every ARN attached to your folios, estimating the trail commission you have paid, and mapping the tax-efficient switch order is a one-time exercise that pays back in lower TER every year from that point forward.

Want a fee-only SEBI RIA to map your complete folio — ARN by ARN — and give you a sequenced switch plan? Get a free portfolio audit →