IRDAI-Registered IMF Setup for SEBI RIAs

IMF for SEBI Registered Investment Advisers in Gurugram: Add Insurance Revenue Legally

Q: What documents and eligibility are required for an IMF?

A Company/LLP/Co-op Society with 'Insurance Marketing Firm' in its name, net worth of INR 10 lakh (INR 5 lakh for a single aspirational district) with a CA net-worth certificate, a qualified Principal Officer, Form A, NOC, ROC incorporation certificate, MoA/AoA and PAN, SBI account, insurer consent letters, a 3-year business plan, infrastructure photos and Fit and Proper declarations.

Reviewed by CA & CS Team, Patron Accounting LLP ICAI & ICSI Registered| 15+ Years Experience| Last Updated: 30 June 2026 Speak to a Specialist →

The Rule: An individual SEBI RIA cannot earn insurance commission; a separate IRDAI-registered IMF is the compliant route

Fees: IRDAI application INR 5,000 (from SBI account) | Patron setup from INR 24999 (Exl GST and Govt. Charges)

Eligibility: Company / LLP / Co-op Society with "Insurance Marketing Firm" in its name | Net worth INR 10 lakh (INR 5 lakh aspirational district)

Timeline: Around 7-10 weeks end to end | Registration now perpetual (no 3-year renewal since 5 Feb 2026)

10,000+ Businesses Served | 4.9 Google Rating | 50,000+ Documents Filed | 15+ Years

Call +91 945 945 6700 Email Us WhatsApp Us

15+ YearsIndustry Experience

CA & CSCertified Experts

4.9

Based on 500+ reviews

Get Free Consultation

Talk to a CA/CS expert today

Full Name

Phone Number

City

Service Needed

Our team will get back to you shortly. No spam.

Real Stories from Real People

Hear how teams across industries use Patron to save time, cut costs, and stay in control.

I've had an outstanding experience working with my CA - Patron Accounting. Their professionalism, attention to detail, and timely communication made the entire process seamless and stress-free.

Sunny Ashpal

Director - Demandify Media

Really a fantastic experience with Patron Accounting especially Shubham. Knowledgeable person who deserves the 5 star for smooth handling of all documentation.

Very proficient and professional staff. Do a fantastic job with instant response. Strongly recommended for all accounting needs, especially for startups and growing businesses.

Anjanay Srivastava

Founder - Hunarsource Consulting

I contacted them to file the ITR. Shubham was the POC for me and he was really very professional, giving prompt responses. Highly recommend them for tax and compliance work.

From the very beginning their approach has been highly professional, prompt and solution-oriented. Every interaction reflected their deep knowledge and commitment to helping clients.

I called Patron to file ITR for my family members. I worked with Shubham and Amin Jain and it was a smooth process. They understand the basics very well and respond promptly.

Join 10,000+ Satisfied Businesses

From SEBI RIAs to mutual fund distributors and corporate agents, businesses across India trust Patron for compliant IMF setup and IRDAI registration.

Talk to an Expert →

10,000+Businesses ServedIncorporation, IRDAI and compliance support across India.

15+Years ExperienceDeep expertise in entity setup, IRDAI and financial-sector compliance.

50,000+Documents FiledApplications, returns and filings handled accurately.

4.9★Client RatingTrusted by advisers, founders and growing firms.

ISO CertifiedProfessional standards and documented processes.

SSL SecureYour financial and business data is fully protected.

Overview What Is IMF Who Needs What's Included Process Eligibility Documents Fees Timeline Why Patron IMF vs Corporate Agent FAQs

What Is IMF for Investment Advisors and Who Needs It in Gurugram?

An Insurance Marketing Firm (IMF) is the IRDAI-registered entity that lets SEBI Registered Investment Advisers in Gurugram add a compliant insurance revenue line without breaching SEBI's advisory-versus-distribution segregation rules. Below are direct answers to the questions advisers ask most.

Quick Answers

What is an IMF? An IRDAI-registered entity that distributes insurance from up to 2 life, 2 general and 2 health insurers, plus other financial products.

Can an individual RIA earn insurance commission? No; SEBI rules bar it, so a separate segregated IMF entity is the compliant way to add insurance revenue.

Can a corporate RIA run advisory and distribution together? Only with client-level segregation and separate staff, which an IMF arm satisfies.

Who is eligible? A Company, LLP or Co-operative Society with "Insurance Marketing Firm" in its name, INR 10 lakh net worth (INR 5 lakh for a single aspirational district), and a qualified Principal Officer.

Does it need renewal? No; registration is perpetual since 5 February 2026, and the IRDAI application fee is INR 5,000 paid from an SBI account.

IMF for Investment Advisors in Gurugram - Overview

📌 In short

SEBI (Investment Advisers) Regulations 2013 keep advice and distribution separate, and an individual RIA cannot earn insurance commission. To capture insurance revenue compliantly, an adviser sets up a distinct Insurance Marketing Firm (IMF) registered with IRDAI. The IMF can tie up with up to 2 life, 2 general and 2 health insurers, distribute other financial products through Financial Service Executives, and operate at arm's length from the advisory practice. Registration is filed on imf.irda.gov.in and, since 5 February 2026, is perpetual.

Gurugram (Gurgaon), Haryana is one of India's densest hubs of financial-services professionals, with SEBI Registered Investment Advisers, wealth managers and boutique advisory firms clustered around Cyber City, Golf Course Road, Udyog Vihar and Sohna Road. Many of these advisers want to add insurance to their client relationships but are unsure how to do so without breaching SEBI's segregation requirements. The IMF route resolves this cleanly. Explore all our IMF Services for the full picture.

Patron Accounting sets up the IMF end to end for advisers in Gurugram: choosing between a Private Limited company and an LLP, incorporating the entity with "Insurance Marketing Firm" in the name, arranging the SBI account and CA net-worth certificate, onboarding the Principal Officer through the IRDAI training and exam, and filing the IRDAI application. The IRDAI framework is national, so the rules cited on this page apply uniformly across India, while our delivery is tailored to Gurugram-based advisers.

Content is reviewed quarterly for accuracy against IRDAI and SEBI updates.

What Is an Insurance Marketing Firm (IMF)?

An Insurance Marketing Firm is an entity registered under the IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015 to solicit and distribute insurance and other financial products within a defined geography. For a SEBI Registered Investment Adviser, the IMF is the separate, IRDAI-licensed vehicle that legally holds the insurance-distribution business, keeping it distinct from the RIA's fee-based advisory activity.

An IMF may tie up with up to 2 life, 2 general and 2 health insurers (plus AIC and ECGC) and can market SEBI-licensed financial products through Financial Service Executives (FSEs). It operates on a district basis, covering a maximum of 3 districts, and must carry "Insurance Marketing Firm" or "IMF" in its registered name. Applications are filed on the IRDAI portal at imf.irda.gov.in.

Since 5 February 2026, under the Sabka Bima Sabki Raksha reforms and the Amendment of Insurance Laws Act 2025, IMF registration is perpetual - the earlier three-year renewal cycle has been discontinued. The firm must, however, maintain its net worth, hold Professional Indemnity cover throughout, and file an annual CA net-worth certificate within three months of the financial year close.

Key terms for advisers:

RIA: SEBI Registered Investment Adviser under SEBI (Investment Advisers) Regulations 2013 - provides fee-based advice, not distribution.

IMF: IRDAI-registered Insurance Marketing Firm that distributes insurance and earns remuneration.

Principal Officer (PO): The qualified, certified individual who leads the IMF and clears the 50-hour IRDAI training and IMF exam.

ISP: Insurance Sales Person - certified staff who solicit insurance within the registered state; at least one per office.

FSE: Financial Service Executive - markets SEBI-licensed financial products on behalf of the IMF.

IRDAI Registered IMF Active

Who Needs an IMF in Gurugram?

Individual SEBI RIAs adding insurance: An individual RIA cannot undertake distribution or earn insurance commission. Setting up a separate IMF is the compliant way to capture insurance revenue while continuing fee-only advice.

Non-individual (corporate) RIAs and advisory firms: Corporate RIAs may run advisory and distribution together only with client-level segregation and separate staff. A distinct IMF arm gives that arm's-length structure a clean home.

Wealth managers and boutique advisory practices: Gurugram firms on Golf Course Road and in Cyber City serving HNI clients often want life, health and general insurance in the same relationship - an IMF makes that revenue compliant.

Advisers planning a district footprint: An IMF operates across a maximum of 3 districts; if more than one is chosen, at least one must be an aspirational district, which also lowers the net-worth requirement to INR 5 lakh.

Advisers who want to distribute beyond insurance: An IMF can market SEBI-licensed financial products through Financial Service Executives, letting an adviser broaden the product shelf under one registered entity. See our IMF for Financial Advisors route for the broader wealth-management track.

What Patron Includes in Your IMF Setup

Component	What We Do
Entity Structuring	Advise on Private Limited vs LLP vs Co-operative Society for the IMF, mapped to your RIA structure and segregation needs
Incorporation with IMF Name	Register the entity via MCA with "Insurance Marketing Firm" or "IMF" in the name, plus MoA/AoA and PAN
Net Worth & SBI Account	Arrange the CA net-worth certificate (INR 10 lakh, or INR 5 lakh for a single aspirational district) and open the mandatory State Bank of India account in the IMF's name
Principal Officer Onboarding	Guide PO eligibility, coordinate the 50-hour IRDAI training and the IMF exam
ISP / FSE Setup	Set up at least one Insurance Sales Person per office and, where needed, Financial Service Executives for other financial products
IRDAI Application (Form A)	Prepare and file the full application on imf.irda.gov.in with NOC, 3-year business plan, org chart, infrastructure photos and Fit & Proper declarations
Insurer Tie-Up Coordination	Coordinate consent letters for up to 2 life, 2 general and 2 health insurers
Ongoing Compliance	Professional Indemnity cover, annual CA net-worth certificate within 3 months of FY close, and IRDAI returns via our IMF Compliance Retainer

Our Process

IMF Registration Process for Advisers - 6 Steps

Patron manages the complete IMF setup for Gurugram advisers, from structuring the entity to the IRDAI grant of registration.

Step 1

Structure the IMF Around Your RIA

Patron reviews whether you are an individual or non-individual SEBI RIA and designs the segregation. We choose the entity type (Private Limited or LLP), confirm the district footprint, and check whether an aspirational district applies so the net-worth requirement can drop to INR 5 lakh.

Segregation Mapped Entity Chosen

Structured01

Step 2

Incorporate with "Insurance Marketing Firm" in the Name

We incorporate the entity via MCA with "Insurance Marketing Firm" or "IMF" mandatorily in the name, and prepare MoA/AoA and PAN. This is a strict IRDAI requirement, so name approval is handled carefully before the incorporation certificate is issued.

Name Approved Entity Incorporated

Incorporated02

Step 3

Net Worth, SBI Account & Documents

Patron arranges the CA net-worth certificate (INR 10 lakh, or INR 5 lakh for a single aspirational district), opens the mandatory State Bank of India account in the IMF's name from which the INR 5,000 IRDAI fee is paid, and compiles Form A, NOC, the 3-year business plan, org chart, infrastructure photos and Fit & Proper declarations.

Net Worth Certified SBI Account Opened

Docs Ready03

Step 4

Onboard and Certify the Principal Officer

The Principal Officer must meet IRDAI's qualification criteria (professional insurance qualification, or a graduate with the required experience) and complete 50 hours of IRDAI training plus the IMF exam. We also set up at least one Insurance Sales Person per office and any Financial Service Executives needed for other financial products.

PO Trained ISP Appointed

Certified04

Step 5

File the IRDAI Application & Tie-Ups

Patron files the complete application on imf.irda.gov.in, arranges Professional Indemnity cover (2x preceding-year remuneration, minimum equal to net worth), and coordinates insurer consent letters for up to 2 life, 2 general and 2 health insurers. We respond to any IRDAI queries on your behalf.

Application Filed Tie-Ups Coordinated

Under Review05

Step 6

Grant of Registration & Go Live

On approval, IRDAI grants the IMF registration - now perpetual since 5 February 2026. Patron helps you activate the insurer tie-ups, begin distribution, and set up the ongoing compliance calendar: Professional Indemnity renewal and the annual CA net-worth certificate within 3 months of the financial year close.

Registration Granted Distribution Live

IMF Live06

Eligibility for an IMF - Advisers in Gurugram

Entity type: A Company, LLP or Co-operative Society - and the registered name must contain "Insurance Marketing Firm" or "IMF".
Net worth: INR 10 lakh, reduced to INR 5 lakh where the IMF operates in a single aspirational district, certified by a CA.
District footprint: A maximum of 3 districts; if more than one district is chosen, at least one must be an aspirational district.
Principal Officer: An Associate/Fellow of the Insurance Institute of India, Institute of Actuaries or CII London; or a postgraduate in insurance/risk; or a graduate with the required insurance or financial-services experience - plus 50 hours of IRDAI training and the IMF exam.
Insurance Sales Person (ISP): Minimum Class 12, ISP training and the IMF exam; at least one ISP per office, operating within the registered state.
Professional Indemnity cover: Mandatory throughout registration - 2x the preceding year's remuneration, with a minimum equal to net worth.
SBI account: The IRDAI application fee of INR 5,000 must be paid from a State Bank of India account in the IMF's name.

SEBI note for RIAs: The IMF is a separate IRDAI-registered entity, so your SEBI RIA registration continues to provide fee-only advice while the IMF handles insurance distribution. SEBI's advisory-versus-distribution segregation is satisfied by keeping the two entities and their client dealings at arm's length.

Documents Required for IMF Registration

Form A - the IRDAI IMF application
NOC as required by IRDAI
ROC incorporation certificate showing "Insurance Marketing Firm" / "IMF" in the entity name
MoA/AoA (or LLP agreement) and the entity PAN
State Bank of India account details in the IMF's name
CA net-worth certificate (INR 10 lakh, or INR 5 lakh for a single aspirational district)
Principal Officer qualification certificates plus IRDAI training and IMF exam certificates
ISP training and exam certificates
3-year business plan and organisation chart
Infrastructure photographs of the office premises
Insurer consent letters for the intended life, general and health tie-ups
Fit & Proper declarations

Adviser tip: Because the entity name must carry "Insurance Marketing Firm", plan the name early - it cannot be a simple copy of your existing RIA brand. Keeping the IMF office, staff and records distinct from the advisory practice also makes the SEBI segregation position clean from day one.

IMF Setup Fees for Advisers in Gurugram

Fee Component	Amount
IRDAI Application Fee (Government)	INR 5,000 - paid from an SBI account in the IMF's name
Patron IMF Setup for Advisers	Starting from INR 24999 (Exl GST and Govt. Charges)
Entity Incorporation	As per MCA / Government charges (at actuals)
Net Worth Certificate & SBI Account	Included in the setup engagement
Principal Officer Training & Exam	IRDAI training and exam charges at actuals
Professional Indemnity Cover	Insurer premium at actuals (2x remuneration, minimum net worth)
Ongoing IMF Compliance Retainer	Quoted separately - IRDAI returns, PI renewal, annual net-worth certificate

All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.

Professional service charges for drafting, filing, and representation are separate from the statutory IRDAI and Government charges. The exact fee depends on entity type, district footprint and Principal Officer readiness. Contact us for a detailed quote.

Get a free IMF consultation for advisers in Gurugram - Call +91 945 945 6700 or WhatsApp us. No-obligation assessment.

IMF Registration Timeline

Stage	Estimated Timeline
Structuring & Name Approval	3-5 working days
Entity Incorporation	1-2 weeks
Net Worth Certificate & SBI Account	1-2 weeks (in parallel)
Principal Officer 50-Hour Training & Exam	2-4 weeks
Application Filing & Insurer Tie-Ups	1-2 weeks
IRDAI Review & Grant	Depends on document readiness
Total End-to-End	Around 7-10 weeks

Note: The single biggest variable is the Principal Officer's certification - starting the 50-hour IRDAI training and IMF exam early keeps the overall timeline near the lower end. Once granted, the registration is perpetual (no 3-year renewal since 5 February 2026), but you must maintain net worth, hold Professional Indemnity cover throughout, and file the annual CA net-worth certificate within 3 months of the financial year close.

Key Benefits

Why Choose Patron for IMF Setup in Gurugram

SEBI-Aware Structuring

We design the IMF around your existing SEBI RIA so advisory and distribution stay segregated. No guesswork on which entity holds the insurance revenue.

End-to-End Setup

Incorporation with the IMF name, SBI account, CA net-worth certificate, Principal Officer training and exam, and the full IRDAI filing on imf.irda.gov.in - one accountable team.

Ongoing Compliance

Perpetual registration still needs upkeep. We manage Professional Indemnity renewal, the annual CA net-worth certificate within 3 months of FY close, and IRDAI returns.

Track Record

10,000+ businesses served, 4.9 Google rating, 50,000+ documents filed, and 15+ years of CA and CS expertise across incorporation, IRDAI and financial-sector compliance.

IMF vs Corporate Agent for Advisers

Feature	Insurance Marketing Firm (IMF)	Corporate Agent
Insurer Tie-Ups	Up to 2 life + 2 general + 2 health insurers	Up to 9 insurers per category (27 total)
Independence	Operates independently with its own ISPs	Acts as an agent of the tied insurers
Other Financial Products	Can market SEBI-licensed financial products via FSEs	Primarily insurance distribution
Geography	District-based, maximum 3 districts	Broader, as per corporate-agent norms
Name Requirement	Must contain "Insurance Marketing Firm" / "IMF"	No such name constraint
Best For an Adviser	Advisers wanting an independent, multi-insurer distribution arm alongside their RIA	Advisers preferring depth with more insurers per line

For most SEBI RIAs, the IMF's independence and its ability to distribute other financial products through FSEs make it the natural fit alongside a fee-based advisory practice. Compare the entity choice in IMF: Private Limited vs LLP.

Related IMF Services in Gurugram

Patron supports advisers across the full IMF lifecycle in Gurugram:

IMF Services - the full directory of IMF setup and compliance offerings
IRDA IMF Business Registration - MCA incorporation plus IRDAI registration, end to end
IMF IRDAI Registration Process - IRDAI-only engagement for an existing entity
ISMP Certification & ISP Appointment - training, exam and certificate management
IMF Compliance Retainer Services - IRDAI returns and annual renewals
IMF for Financial Advisors - the broader wealth-management and RIA track
IMF: Private Limited vs LLP - entity-type decision framework

Legal and Regulatory Framework

Governing regulations:

IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015 (notified 21 January 2015) - governs IMF registration, eligibility and conduct
SEBI (Investment Advisers) Regulations, 2013 - governs the RIA and the advisory-versus-distribution segregation
Amendment of Insurance Laws Act 2025 (Sabka Bima Sabki Raksha) - made IMF registration perpetual from 5 February 2026

Key requirements for advisers:

Entity must be a Company/LLP/Co-operative Society with "Insurance Marketing Firm" in its name
Net worth INR 10 lakh (INR 5 lakh for a single aspirational district), with an annual CA certificate within 3 months of FY close
IRDAI application fee of INR 5,000 paid from an SBI account in the IMF's name
Professional Indemnity cover maintained throughout registration
At least one certified Insurance Sales Person per office, operating within the registered state

Can a SEBI registered investment adviser sell insurance and earn commission?

Not directly. An individual RIA cannot undertake distribution or earn insurance commission under SEBI (Investment Advisers) Regulations 2013. The compliant route is a separate, segregated entity - an IRDAI-registered Insurance Marketing Firm (IMF) - which can distribute insurance and earn remuneration, kept at arm's length from your advisory practice.

How can an investment advisor add insurance to their practice legally?

By registering an Insurance Marketing Firm (IMF) with IRDAI. The IMF is a distinct Company, LLP or Co-operative Society with "Insurance Marketing Firm" in its name. It can tie up with up to 2 life, 2 general and 2 health insurers. Non-individual RIAs must keep advisory and distribution clients segregated, which the separate IMF entity satisfies.

How much does IMF registration cost for an advisor in Gurugram?

The IRDAI application fee is INR 5,000 (paid from an SBI account in the IMF's name), plus GST and incorporation charges. Patron's end-to-end IMF setup for advisors in Gurugram starts from INR 24999 (Exl GST and Govt. Charges), covering incorporation, IRDAI filing and Principal Officer onboarding.

How long does IMF registration take?

Typically around 7 to 10 weeks end to end - covering entity incorporation, document preparation, the Principal Officer's 50-hour IRDAI training and exam, and IRDAI review on the imf.irda.gov.in portal. Timelines depend on document readiness and the Principal Officer's certification.

What documents and eligibility are required for an IMF?

A Company/LLP/Co-op Society with "Insurance Marketing Firm" in its name, net worth of INR 10 lakh (INR 5 lakh for a single aspirational district) with a CA net-worth certificate, a qualified Principal Officer, Form A, NOC, ROC incorporation certificate, MoA/AoA and PAN, SBI account, insurer consent letters, a 3-year business plan, infrastructure photos and Fit and Proper declarations.

Does my existing SEBI RIA registration help or conflict with an IMF?

It does not conflict if structured correctly. SEBI requires advisory and distribution activities to be segregated. The IMF is a separate IRDAI-registered entity, so your SEBI RIA continues to give fee-only advice while the IMF handles insurance distribution. An IMF can also market SEBI-licensed financial products through Financial Service Executives.

Can Patron help set up an IMF for investment advisors in Gurugram?

Yes. Patron Accounting handles IMF registration for investment advisers in Gurugram and across India, including Tier-1 metros and Tier-2/Tier-3 cities, with aspirational-district options that lower the net-worth requirement to INR 5 lakh. The IRDAI process is online via imf.irda.gov.in, so we support advisers in Gurugram end to end.

Is IMF registration permanent or does it need renewal?

It is now perpetual. Since 5 February 2026 (under the Sabka Bima Sabki Raksha / Amendment of Insurance Laws Act 2025), the earlier 3-year renewal was discontinued. You must, however, maintain net worth, hold Professional Indemnity cover, and file an annual CA net-worth certificate within 3 months of the financial year close.

Add Insurance Revenue in Gurugram - the Compliant Way

Earning insurance commission directly through your SEBI RIA is not permitted, and running distribution without proper segregation is a compliance risk. A separate IRDAI-registered IMF resolves this and, with registration now perpetual, the setup is a one-time investment in a lasting revenue line.

Start today - Call +91 945 945 6700 or WhatsApp us.

Set Up Your IMF for Investment Advisors in Gurugram with Patron

For SEBI Registered Investment Advisers in Gurugram, an IRDAI-registered Insurance Marketing Firm is the compliant, arm's-length route to an insurance revenue line - separate from fee-based advice, and now perpetual under the reforms effective 5 February 2026. The IRDAI framework is national, so the eligibility, net-worth and Principal Officer rules on this page apply uniformly across India.

Patron Accounting delivers the full setup for Gurugram advisers: entity structuring and incorporation with the IMF name, the SBI account and CA net-worth certificate, Principal Officer training and exam, insurer tie-ups, and the IRDAI filing - followed by ongoing compliance. With 10,000+ businesses served and 15+ years of CA and CS expertise, your IMF is built right the first time.

📞 Call +91 945 945 6700 💬 WhatsApp Us ✉️ Email Us

Book a Free Consultation - No Obligation.

IMF for Investment Advisors Across India

Choose your city - Patron sets up IMFs for advisers nationwide via the online imf.irda.gov.in process.

Choose Your City

IMF setup for investment advisers in your city

Gurugram

Haryana

You're here

Related IMF Services

End-to-end IMF setup and compliance in Gurugram

IRDA IMF Business Registration

Incorporation + IRDAI

IMF IRDAI Registration Process

IRDAI-only

ISMP Certification & ISP

Training + Exam

IMF Compliance Retainer

Annual

IMF for Financial Advisors

Wealth / RIA

IMF: Pvt Ltd vs LLP

Entity Choice

Content Created: 30 June 2026 | Last Updated: 30 June 2026 | Next Review: 30 September 2026 | Reviewed By: CA & CS Team, Patron Accounting LLP

This page is reviewed quarterly to incorporate IRDAI and SEBI updates affecting Insurance Marketing Firms and Registered Investment Advisers. Content accuracy is verified by the CA & CS Team, Patron Accounting LLP.