EUIN: Meaning, Significance and Purpose

Many investors see references to “EUIN” or “EUIN code” when filling out mutual fund application forms. But what exactly is EUIN, why is it required, how is it registered, and for which transactions is it valid? In this post, we answer the question ‘What is EUIN number?’, its purpose, benefits, registration process, covered transactions, and the regulatory rules around it. This will help both investors and distributors understand this key identification mechanism.

Table of contents

• What is an EUIN?
• What is the purpose of EUIN?
• Advantages of EUIN
• EUIN registration process
• Types of transactions covered under EUIN
• Rules and regulations for EUIN registration

EUIN stands for Employee Unique Identification Number. It is a unique identity number allotted to the employee, relationship manager, or salesperson of a mutual fund distributor (ARN holder) who interacts with or provides mutual fund-related advice to investors. This is in addition to the ARN (AMFI Registration Number) of the distributor. While the ARN applies to the distributor entity, the EUIN ties a specific person to each transaction. For certain individual distributors (sole proprietorship), the EUIN is often automatically issued along with ARN, without a separate application or fee. The EUIN remains the same even if the employee switches firms; the employee must update the mapping to a new ARN when their employer changes.

Read Also: Common account number (CAN) in mutual funds

What is the purpose of EUIN?

The EUIN was introduced to strengthen transparency, accountability, and investor protection in the mutual fund distribution chain.

• It helps prevent potential mis-selling even if the salesperson later leaves the distributor’s employment as the trail of advice remains linked to that person.
• It helps ensure each transaction is traceable to the individual adviser, not just the distributor entity.
• It strengthens the audit trail for regulatory oversight, making enforcement easier.
• It aims to discourage unethical practices, since commission or incentives depend on properly recorded transactions associated with a valid EUIN.

Thus, the EUIN brings a layer of personal responsibility into mutual fund sales.

Advantages of EUIN

The EUIN framework provides several benefits to investors:

• Responsibility and accountability: Since each advisory transaction is tied back to an individual, that individual is responsible for the recommendation, even if they subsequently change firms.
• Discourages mis-selling: With clear accountability at the individual level, mis-selling, or pushing unsuitable products, is discouraged.
• Better dispute resolution: In the event of an investor complaint, the regulator or AMCs will be able to track back to the employee or salesperson who made the recommendation.
• Continuity over employment changes: The EUIN remains valid even if the salesperson changes employment; only the mapping to the new ARN is updated.
• Transparency in commission flow: By tracking commissions to the correct EUIN, distributors may have a disincentive to make false declarations and this promotes accuracy in commission reporting.

Overall, EUIN enhances investor protection through clear individual accountability.

EUIN registration process

Here is how a salesperson or distributor obtains or registers an EUIN:

• Certification and eligibility: A corporate distributor’s employee must have cleared NISM Series V-A Mutual Fund Distributors Certification (or completed the continuing professional education, CPE) before applying for EUIN.
• Application via AMFI/online portal: The applicant uses the “Online Registration & Renewal of ARN & EUIN” system on AMFI’s platform. They submit PAN, Aadhaar (where applicable), photograph, signature, and NISM certificate.
• Validity and renewal: A newly issued or renewed EUIN is valid for 3 years from issue. Renewal must be done before expiry to maintain the continuity of validity.
• No separate charge in certain cases: For individual or sole-proprietorship distributors, the EUIN is often allotted automatically without an extra fee.
• Remediation/late capture: If EUIN is missing or invalid in a transaction, remediation (i.e., correct entry) is allowed within 30 calendar days from the trade date. If not remedied, distributor commission for that transaction may be forfeited.

The registration process is largely online, ensuring ease in compliance.

Types of transactions covered under EUIN

EUIN applies only to certain advisory or consultative mutual fund transactions. It is not required for all types.

Transactions where EUIN quoting is mandatory include:

• Purchases/subscriptions of mutual funds.
• Switches between schemes.
• Registrations of systematic investment plan (SIP).
• Registrations of systematic transfer plan (STP)/Trigger-based STP.
• IDCW transfer plan registrations.

Transactions where EUIN is not required:

• Subsequent installments under SIP, STP, and SWP.
• Dividend reinvestments.
• Bonus units.
• Redemption/withdrawal.
• Creation of zero balance folios.

Also, if a transaction is execution-only with no advice provided, the EUIN box may be left blank, but a declaration must be signed indicating that the transaction was execution-only. Hence, only advisory sales or structured plan registrations require quoting the EUIN.

Rules and regulations for EUIN registration

The regulatory framework around EUIN is defined by SEBI and AMFI and is embedded within mutual fund rules. Key rules include:

• The requirement for EUIN quoting was mandated by SEBI via a circular in 2012 (CIR/IMD/DF/21/2012) for capturing identity of the salesperson.
• AMFI’s “Best Practices” circulars (such as BP-33, BP-37) stipulate rules for EUIN validation, remediation, and penalty for non-compliance.
• Distributors must ensure that their salespersons have a valid EUIN before selling or advising mutual funds.
• If the salesperson leaves and joins another distributor, they must apply for the remapping of their EUIN to the new ARN, which may require submitting a relieving letter from the previous employer.
• If an incorrect or missing EUIN is not rectified within the 30-calendar-day remediation period, the distributor's commission for that transaction is forfeited, which serves as a penalty for non-compliance.
• Overseas distributors are exempt from EUIN obligations (subject to AMFI circular CIR/ARN-14/12-13 dated July 13, 2012).
• Individual or sole proprietorship ARN holders, when employing salespersons, must inform AMFI’s CAMS unit so that EUINs can be allotted to those employees.
• EUIN must be captured along with ARN or sub-broker code in transaction slips or electronic feeds.

These rules ensure integrity of the system and compliance across the mutual fund industry.

Read Also: How to Check All Mutual Funds Status with PAN Number?

Conclusion

In summary, the EUIN helps in ensuring that each mutual fund advisory transaction is traceable to the specific salesperson who advised the investor. It adds accountability, helps prevent potential mis-selling, and improves regulatory oversight. While the ARN identifies the distributor entity, the EUIN identifies the individual adviser. The EUIN registration process is largely online, involves mapping to ARN, and has a validity period of three years. Not all transactions require EUIN; it is needed only for advisory purchases, switches, and plan registrations, not for redemptions or reinvestments. Distributors and salespersons must comply with SEBI or AMFI rules around issuance, remapping, and commission forfeiture to maintain integrity.

FAQs

What is EUIN in Mutual Funds?

EUIN (Employee Unique Identification Number) is a unique identity allotted to the employee, relationship manager, or salesperson of a mutual fund distributor, to tie advisory transactions to that specific individual.

How do I find my EUIN?

EUIN is assigned to the salesperson or distributor who advises you, not to investors. You can request the salesperson or distributor to share their EUIN. It is often printed on the application form, sales documents, transaction printouts, or ID cards.

How to convert EUIN to ARN?

An EUIN is not converted into an ARN as they serve different purposes. The ARN identifies the distributor entity, while the EUIN identifies the individual employee or salesperson. An EUIN is mapped to a distributor's ARN, and this mapping is updated if the individual changes employment.

Are EUIN and ARN the same?

No. The ARN (AMFI Registration Number) identifies the distributor or intermediary entity. The EUIN identifies the individual adviser or salesperson who provided advisory services to the investor.

Why is EUIN needed?

It supports accountability, traceability of advisory recommendations, helps prevent potential mis-selling, and strengthens regulatory audit trails.

How to renew EUIN?

Renewal is done via AMFI’s online portal before the expiry period of three years. The applicant must also maintain or revalidate their NISM certification or CPE as required.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

This document should not be treated as endorsement of the views/opinions or as investment advice. This document should not be construed as a research report or a recommendation to buy or sell any security. This document is for information purpose only and should not be construed as a promise on minimum returns or safeguard of capital. This document alone is not sufficient and should not be used for the development or implementation of an investment strategy. The recipient should note and understand that the information provided above may not contain all the material aspects relevant for making an investment decision. Investors are advised to consult their own investment advisor before making any investment decision in light of their risk appetite, investment goals and horizon. This information is subject to change without any prior notice.

The content herein has been prepared on the basis of publicly available information believed to be reliable. However, Bajaj Finserv Asset Management Ltd. does not guarantee the accuracy of such information, assure its completeness or warrant such information will not be changed.The tax information (if any) in this article is based on current laws and is subject to change. Please consult a tax professional or refer to the latest regulations for up-to-date information.