When a minor attains majority, you must get
the folio status changed to the investor’s name (Minor → Individual/Major).
Until the RTA/AMC receives complete documents, many fund houses suspend/stop
further transactions (SIPs/STP/SWP) in that folio. The process is done by
submitting a Minor Attaining Majority (MAM) request + supporting
documents to the RTA (CAMS or KFin/previously Karvy) or the AMC.
CAMS (step-by-step)
1. Download CAMS “Minor Attains
Major / MAM” form from CAMS/AMC website (or use the AMFI MAM form).
2. Complete the form: enter folio
number(s), date of birth, PAN, KYC/CKYC number, bank details to be updated,
whether guardian name is to be removed, and list of folios to be converted.
3. Get the major’s signature
attested in the space provided (by registered guardian, bank, notary or JMFC)
or get bank’s Signature Confirmation in the prescribed annexure if relying on
bank attestation.
4. Attach copies — PAN, KYC
acknowledgement or KYC form, cancelled cheque/bank proof, nomination form (if
any), any other AMC-specific doc.
5. Submit to CAMS investor service
centre / AMC / RTA office as per instructions on the form (postal/courier or
in-person). (CAMS provides service-request submission details and investor help
pages).
6. Processing / effect: CAMS/AMC
will verify documents, update KYC/PAN mapping and convert the folio to Major.
After conversion you may need to re-register SIP/mandates (if applicable)
because mandates are on the previous guardian/folder. (TAT varies by AMC/RTA
and depends on completeness).
KARVY (now handled via KFin/RIS) (step-by-step)
1. Download the “Minor Attaining
Majority / MAM” form from the AMC or KFin (RIS) forms page (or use AMFI MAM).
2. Fill the form with folio
details, DOB, PAN, KYC/CKYC details and tick items to update (bank, nomination,
tax status).
3. Signature attestation — get the
major’s signature attested by guardian (if guardian signature is on records),
or banker’s confirmation in the specified bank declaration format, or a
notary/JMFC. KFin accepts bank attestation in an ISR2/Bank Declaration format.
4. Attach PAN copy, KYC
acknowledgment, cancelled cheque (name printed) / bank statement, new
nomination, fresh SIP mandate (if you want SIPs to continue).
5. Submit to KFin Investor Service
Centre / AMC office (as per the form instructions). KFin’s investor charter
shows TATs are indicative and may vary by fund.
6. Processing — KFin verifies and
updates the folio; once KYC/PAN mapping is done and signature accepted, folio
status changes to individual/major.
Typical timings (practical expectation)
TAT varies by AMC / RTA and
completeness of documents. Some AMCs/RTAs quote a few business days; others can
take a few weeks if additional verification is needed or if original documents
are required. Always assume anywhere between 3–30 business days depending on
the fund, completeness and whether physical verification / bank confirmations
are required. KFin/CAMS both note TATs are indicative and fund dependent.
Important operational points & tips
1. Transactions may be blocked
once the minor reaches the date of majority until the MAM and KYC/PAN are
updated. Submit documents before the 18th birthday if possible.
2. PAN + KYC (CKYC) are the most
important items — get PAN issued (minors can get PAN) and complete CKYC early.
Many AMCs will not process further transactions without PAN/KYC/Aadhaar.
3. Signature attestation: if the
guardian’s signature is already in the folio records, the guardian can attest
the major’s signature in the MAM form; otherwise, bank/notary/JMFC are common
options.
4. Bank mandate / mandates for
SIP: mandates are usually tied to the earlier bank/guardian — submit fresh
mandate forms so SIPs continue without interruption.
5. If folios are in Demat: contact
your DP (depository participant) and RTA — demat folios have a separate flow.
6. If you use a
distributor/aggregator they may have an internal on-boarding step and may move
folios after KYC & PAN updates. Processing times quoted by such platforms
can be longer (2–4 weeks).