This entry is part 5 of 6 in the series Mutual Fund Tips

From 1st January, 2013 all fresh investors are required to comply with the KYC with one of the KYC Registration Agencies (KRA).

Other mutual fund investors, who had complied with KYC requirements of Mutual Funds with CVL upto 31st December, 2012 were able to transact, including fresh purchase and SIPs with UTI Mutual Fund, without any further action on KYC, while transacting.

Intro

KYC is an ecronym for ” Know Your Customer ” a term commonly use for Customer Identification Process. KYC norms are now mandatory for all investor to make investment in mutual fund.

For D’mat A/c opening, Bank, Mutual Fund, Company & NBFC (Fixed Deposit) , you have to fill KYC.

Every financial institution ask you for fill this KYC Form. If you have 3 Bank A/c you may submit KYC document each bank. 

Now you are relax, if you made this new KYC, then this single KYC process useful for your all transaction. 

After you complete this KYC. You goes any Fund House they only check with your PAN, your  KYC is register or not. Then they process your transaction request.

Once KRA data for a client approved it can be use as valid KYC data by difference institute for account opening. Just print your KYC copy from KRA site, sign it and submit where you want.

 

 

New KYC

Major differences between New & Old KYC

 1) In Person Verification (IPV) – Information provided in the kyc form has to verified in person by the AMC, RTA or Distributor who are AMFI/NISM Certified & Complaint with Know your Distributor(KYD) guidelines.

 2) Additional Information of

a) Father / Spouse’s Name

b) Marital Status

c) Nationality

d) Gross Annual Income or Net worth as on date

What should Investor do?

An investor should submit a KYC Change Form along with the self attested PAN Card Copy.

This Form should submit your City/town

  1. CAMS/ Karvy Center
  2. Submit Mutual Fund Office (where you have current investment)

Check KYC

Like to Check your KYC Status

  1. CDSL Venture Ltd   Select KYC Inquiry   Option & Enter your PAN
  2. CAMS KRA

 

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