KYC Update - IF Process done prior to 1st Jan 2012

As you are aware, uniform Know Your Customer (KYC) is implemented across all intermediaries of SEBI effective 1st Jan 2012 in accordance with SEBI circulars dated 22nd Aug 2011, 5th Oct 2011, 2nd Dec 2011 and 23rd Dec 2011.

INDIVIDUAL INVESTORS WITH CVL KYC PRIOR TO 1st Jan 2012

If you are an individual investor and have done KYC with CVL prior to 1st Jan 2012, then you are requested to fill up Section A and B in the  KYC details Change form (CVL-KRA KYC Change Individual Form) and submit the same to the nearest Cams or Karvy offices. 

• Change Detail Form for Individual ( For MF KYC )
• Change Detail Form for NON-Individual ( For MF KYC ) 
• KYC Form

Based on representation by AMFI, SEBI has permitted mutual funds time up to 30th Nov 2012 to obtain missing/not available KYC information and also complete In-Person Verification (IPV). Therefore, mutual fund investors will need to complete the above formalities in order to enable them to invest in a new mutual fund post 30th Nov 2012. 

Also refer


Revised kyc norms for old kyc holders - Do it again in Person

 

NON INDIVIDUAL INVESTORS WITH CVL KYC PRIOR TO 1st Jan 2012

If you are a Non individual investors and have done KYC with CVL prior to 1st Jan 2012, then you are required to do fresh KYC by 30th Nov 2012. Please fill the enclosed KYC form and annexure (KYC Application Form- Non-Individual), and submit it to the respective Cams or Karvy office, along with the documents mentioned on the reverse of the KYC form.

NON KYC COMPLIANT INVESTORS

If you have not done KYC in past, kindly fill up the enclosed KYC form (KYC Application Form –Individual, KYC Application Form- Non-Individual),   submit it to the respective Cams or Karvy office along with the documents mentioned on the reverse of the KYC form. KYC is a mandatory requirement to invest in Mutual Fund.



Also refer:

Process for change of address in mutual funds after KYC Compliant??

 How to change email address in mutual funds in India

 

Very soon common KYC can be used for different Financial Instruments!!

In a few months, you may be able to use your know-your-customer (KYC) registration with a mutual fund  to open a bank account or purchase insurance.

 Soon, you may be able to buy mutual fund units, shares, insurance policies, bank deposits and other such financial products with a single Know Your Customer (KYC) compliance.

Sebi has decided to move to a common standard for all financial products, in a few months we can able to see one registration for investing in any of financial instrument..

Process for change of address in mutual funds after KYC Compliant??

Change of address is considered as Non financial Transaction. 

A non financial transaction is one which does not involve any unitization and has no financial impact. Some of them are- change in bank mandate, change of address, addition/ deletion in the name of the nominee, correction in email IDs, addition/ correction of contact details, change in the financial advisor and corrections in data capture in name or address.

How does the investor do these changes 

1.If you have done the KYC Process (KYC Compliant)

2.If you have not done the KYC Process

How do you get your address changed in the folios if you are a KYC Compliant?

If you are KYC Compliant through CDSL Ventures Limited ( CVL ), please fill in KYC Details Change Form for Individual( For Change of Address ). You would also require to provide attested copy of the Identity proof and address proof as mentioned on the form. To check if you are KYC complaint visit http://www.cvlindia.com Inquiry on KYC. You need to submit the change of address form and the relevant document at any of Point of Services (POS)

KYC Update - IF Process done prior to 1st Jan 2012

How do you get your address changed in the folios if you are not a KYC compliant?

 In case existing investors of the Mutual Fund who are not KYC compliant and wish to register a change of address, he needs to submit a request for Change of Address on a Transaction Slip or by way of a letter. The request needs to be submitted to any of  Investor Service Centers. Along with request letter, they will be required to submit a copy of any of the following self attested document evidencing the proof of address :

Also refer:

How to change email address in mutual funds in India

 What is the procedure for updation of Multiple Bank details in mutual funds in India??

  List of documents admissible are ( *Documents having an expiry date should be valid on the date of submission.) :

1. Passport / UID/Voters Identity Card/Ration Card/Registered Lease or Sale Agreement of Residence/Driving License/Flat Maintenance bill/Insurance Copy.

2. Utility bills like Telephone Bill (only land line), Electricity bill or Gas bill (Not more than 3 months old ).

3. Bank Account Statement/Passbook -Not more than 3 months old.

4. Self-declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts.

5. Proof of address issued by any of the following: Bank Managers of Scheduled Commercial Banks/Scheduled Co-Operative Bank/ Multinational Foreign Banks/Gazetted Officer/Notary public/ Elected representatives to the Legislative Assembly or Parliament/ Documents issued by any Govt. or Statutory Authority.

6. Identity card/document with address, issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities and Professional Bodies such as ICAI, ICWAI,ICSI,Bar Council etc.,to their Members.

7. For FII/sub account, Power of Attorney given by FII/sub-account to the Custodians (which are duly notarized and/or apostiled or consularised) that gives the registered address should be taken.

8. The proof of address in the name of the spouse may be accepted.

Refer this: 

Revision in Know Your Client (KYC) Norms and Procedure with effect from January 2, 2012

For email and contact details refer this link

Download email and contact update form

https://www.camsonline.com/InvestorServices/COL_ISReqstForms.aspx#

Investors in Mutual Funds to comply with 'KNOW YOUR CLIENT' (KYC)

KYC is an acronym for "Know your Customer"/ Know your Client, a term commonly used for Customer Identification Process. The Prevention of Money Laundering Act, 2002 ("PMLA") forms the core of the legal framework put in place by the Indian Regulators to combat money laundering to be followed by banking companies, financial institutions and intermediaries by administering KYC process and other reporting requirements such as suspicious transactions reporting, etc. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries (such as Mutual Funds) to 'know' their customers.

This facility is being provided absolutely FREE OF COST to the investors.



All investors (Individuals or Non Individuals) who wish to make an investment in a mutual fund scheme via a Lumpsum amount or via a Systematic Investment Plan (SIP) will be required to complete the KYC process. This one-time verification is valid for transactions across all mutual funds.
 

 DOCUMENTS AND INFORMATION TO BE PROVIDED BY INVESTORS: 
Investors in mutual fund schemes have to provide:
(1) Proof of Identity
(2) Proof of Address
(3) PAN Card
(4) Photograph

The originals of these documents along with a copy each to be presented and the original will be returned after verification. Alternatively, investors can also provide an attested true copy of the relevant documents. Attestation could be done by Notary Public/ Gazetted Officer/ Manager of a Scheduled Commercial Bank.
Click here for KYC Forms
1.  Click here for Individual KYC Form
2.  Click here for Non-Individual KYC Form


How to check KYC
Visit http://www.cvlindia.com/inquiry_kyc01.asp to check the KYC status

Important Notes: With effect from January 1, 2011 KYC is mandatory for all classes of investors irrespective of investment amount. With effect from January 1, 2011, all investors whose KYC Status is not updated with us should submit the KYC Acknowledgement letter. In case the investor fails to submit the KYC Acknowledgement letter, the AMC reserves the right to reject the requests submitted for Purchases / Additional Purchases / SIP Registrations / SIP Renewals. For the purpose of SIP transactions the amount limit, wherever applicable, shall apply to each installment.

KYC requirements for a Mutual Fund Investor?

Effective January 01, 2011, it is mandatory for all category of investors to be KYC compliant for executing any investment transactions (excluding Micro SIP) irrespective of amount of investment.

What is Know Your Customer (KYC)?
KYC is an acronym for “Know your Client”, a term commonly used for Client Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to ‘know’ their Clients. This would be in the form of verification of identity and address, providing information of financial status, occupation and such other demographic information. Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.

KYC compliance needs to be obtained only once for Mutual Funds.

What is the process involved?

1. Download the applicable KYC application form
2. Fill up the form and attach necessary documentation (proof of identity and address)
3. Submit application form along with documentation at the nearest KYC Point-of-service (POS)
4. Please keep the KYC acknowledgement for future reference and records

On reveiving the KYC acknowledgement, you are required to intimate the same to all Mutual Funds where you hold investments. You can update your KYC status with a single request, for all Mutual Funds serviced by CAMS.


Checklist for Individual investors:

1. Please ensure that the form is completed in all respects and signed by you.
2. Please affix your recent photograph and sign across the photograph.
3. Please attach your PAN card as proof of Identity. This should be a photocopy plus original for verification.
4. Please attach a Proof of Address Document (one for each distinct address). These should be either original + photocopies or attested / notarized photocopies.
5. If you are an NRI, you must mention your overseas address.
6. Please submit a photocopy of the duly completed KYC Application Form.

Checklist for Non-individual investors:

1. Please ensure that the form is completed in all respects and signed by the authorized signatories.
2. Foreign Institutional Investors must mention their overseas address.
3. Please attach all required documents. These should be either original + photocopies or attested / notarised photocopies.
4. Please submit a photocopy of the duly completed KYC Application Form.

 
 Individual investors will have to produce his Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport, driving license etc ) and Proof of Address (any valid documents listed in section B of the KYC Application Form for Individuals). Non -Individual Investors will have to produce certain documents pertaining to its constitution/registration to fulfill the KYC process. A list of Mandatory Certified Documents to be submitted can be found in section C of the KYC application form for Non-Individual Investors.

To check KYC Status: Visit   http://www.cvlindia.com/inquiry_kyc01.asp


More than 200 CAMS Service Centers are KYC PoS. You can locate a KYC PoS CAMS Service Center by clicking here. A complete list of KYC PoS is available on the website of AMFI.

Know Your Customer (KYC) is now Mandatory for all! Please apply for KYC immediately!