When a minor turns 18, the folio must be converted to the individual’s name before any new transactions can continue. The guardian’s authority ends automatically on the date of majority.
Steps to complete the process:
-
Submit the Minor Attaining Majority (MAM) Form – Available on AMC websites or AMFI’s portal.
-
Provide Required Documents:
-
KYC form updated in the individual’s name
-
PAN card (with photo and signature)
-
Bank account details in the individual’s name (cancelled cheque with name printed)
-
Signature attestation by the bank
-
-
AMC Processing – Usually takes 3–5 business days. Until then, the folio is frozen for transactions.
-
Re-register SIPs, STPs, SWPs – All standing instructions must be freshly registered after conversion.
-
Advance Notice – Fund houses typically send a reminder 30 days before the minor turns 18, so documents should be submitted promptly to avoid suspension of transactions.
Need help understanding your Mutual Fund investments?
Get simple, transparent assistance in selecting or reviewing your mutual fund portfolio — no obligation, no sales pitch.
📞 Book a Free Call