How you can do KYC for mutual fund

Know your client or KYC is in an important process to detect and prevent money. KYC information is required by All Asset Management Companies (AMCs) to verify and maintain records of identities and addresses investors (clients) in accordance with the Prevention of Money Laundering Act, 2002. Hence, KYC for mutual fund is a mandatory requirement for making investments in mutual funds schemes in India.

Even though some investors might think that, KYC (Know your customer) is a complicated and cumbersome procedure; in reality, it is not. KYC is a simple process and can be completed very easily. Let us now understand how easily you can get your KYC for mutual fund done in few steps.

  1. To download the Mutual Fund KYC Form you can visit any Mutual Fund Company (Known as Asset Management Company) in whose scheme you plan to invest and download the KYC form from the website. Alternatively, you can also visit the websites of the registrar and transfer agencies (e.g. CAMS, Sundaram BNP Paribas, Franklin Templeton and Karvy) and download the KYC form.Your mutual Fund Advisor can also provide you the Mutual Fund KYC form and assist you in doing KYC.
  2. The Mutual Fund KYC form is very easy to understand. Fill out the form as instructed. Affix your colour photograph on the application form in the space mentioned and sign across (partially on the form and rest on the photo).

    You also need to provide self-attested copies of the following documents:-

    1. Identity proof (Either one from PAN card, passport, driving license, voter ID card, Aadhaar card or any other Government ID Card etc.)
    2. Address proof (Either one from Passport, driving license, voter ID card, Aadhaar card, electricity bill, property tax bill etc.)
    3. PAN card
    4. Linking of Aadhar to your mutual funds is now mandatory, therefore, while making KYC you can provide this detail too.
  3. You can submit the duly filled in KYC form (along with photograph pasted on it) and the self-attested documents mentioned above to your mutual fund advisor or to the asset management company (AMC) or the registrar and transfer agents (R&TAgents) as per your convenience to make KYC for mutual fund. You should carry the identity and address proof originals with you when you go to submit the KYC documents for in-person verification. However, please note that yourAMFI registered mutual fund advisor is also authorized to conduct in-person verification. So if you are getting your KYC done through a financial advisor, you need not need to visit the AMC or R&TAgents office for in-person verification.
  4. You can track your KYC for mutual fund status by going to Enter your Permanent Account Number (PAN) and you will know if your KYC is verified or not.

Once your KYC is verified you can start investing in mutual funds. New mutual fund investors (people who have never invested in mutual funds before) will have to fulfil the KYC requirements before investing in mutual funds. Existing mutual fund investors are likely to have fulfilled the KYC requirements. However, if you have not made any mutual fund transaction for a long time, you should also check your KYC status by going to CDSL Ventures Limited website and check your KYC by entering your PAN. If yourKYC is not verified, then you should submit fresh KYC form along with necessary documents. The KYC process is quite simple and easy to fulfil.

Still, if you have any doubts, you should contact us and we will help you do your KYC for Mutual Fund