First step to start your mutual fund investment. KYC

know-your-client (KYC) norms have been made mandatory for everyone who wishes to invest in mutual fund.   Investors need to submit their KYC acknowledgement along with investment form.   Know your client (KYC) verification is a mandatory requirement for mutual fund investments in India.  KYC essentially is a record of the investor’s identity and address.  If you are new to mutual funds, you must submit self-attested copies of your identity proof (either one of passport, driving license, PAN card, Aadhaar card etc.), address proof (either one of passport, Aadhaar card, property tax bill, electricity bill etc.) and PAN card which is mandatory, along with the duly filled KYC form with your photograph affixed on it.   You can submit the form to a mutual fund distributor or to the Asset Management Company (AMC) or Registrar and Transfer Agency (CAMS, Karvy etc.) or mutual fund aggregator platforms for verification. Some of the agencies provides online e-verification option to validate KYC document. There are no fees for KYC registration.

Documents required:

Self attested copy of PAN card
Self attested Copy of Aadhaar card
Self-attested copy of Address proof: Latest Telephone Bill/Landline/Mobile /Latest Electricity Bill /Passport copy /Latest Bank Passbook/Bank Account Statement /Latest Demat Account statement /Driving License. /Ration Card /Rent Agreement.

Once you have submitted the necessary KYC documents to the AMC or RTA you can check your KYC status online on the websites of the KYC Registration Agencies (KRA) like CAMS, Karvy, CDSL, NDML, NSE etc. Please note that, you can check your KYC status on websites of any KRA, irrespective of where you submitted your KYC documents. Below are the steps to be followed for checking KYC status on CDSL website. Login to one of the website and enter your PAN card number.

CDSL Ventures Ltd. CVL – https://www.cvlkra.com/
NSE (DotEx International) – https://www.nsekra.com/
NSDL Database Management Ltd (NDML) – https://kra.ndml.in/
CAMS – https://camskra.com/Home.aspx
Karvy – https://www.karvykra.com/‎

Enter your Permanent Account Number(PAN)
Enter the Captcha Code you see on the screen and click submit
The output screen will show when the KRA was submitted, the KYC status (registered, on hold, rejected etc.) and the KYC hold reason (if any).

If you are an existing mutual fund investor but you have not made any mutual fund transaction for a long time, the AMC may reject your transactions, if your KYC is “On Hold” status. Therefore, if you have not made any mutual fund transaction for a long time you should check your KYC status online.

KYC Status :
  • KYC registered  :   Investor identity and address records are registered with the KRA.  No further action is required.
  • Under process  :  investor KYC documents have been received and the verification process is underway.
  • On hold :  KYC has been hold due to discrepancy in KYC documents. The KRA will mention the document where discrepancy has been found. You will need to submit the correct documents.
  • Not available :   KYC record for the PAN is not available with any KRA
    KYC registered  and status of Incomplete / Existing / Old KYC Record :   KYC record is incomplete and needs to be updated for missing information. You have to submit fresh KYC documents to AMC or RTA
  • Under Process with status of Incomplete / Existing / Old KYC Record :   KYC is incomplete and updated with missing information. You have to submit fresh KYC documents to AMC or RTA.
  • KYC Rejected with status of Incomplete / Existing / Old KYC Record :  KRA has rejected the KYC record after verification of PAN with other KRAs if such P.AN is available with other KRA. You have to submit fresh KYC documents to AMC or RTA.

As you can see it is very easy to check your KYC online. However,if for any reason your KYC is not showing as registered or you know the reason for the KYC on hold,you can then submit the necessary pending documents and get your mutual fund KYC registered.  Otherwise you can contact the respective AMC support or mutual fund aggregator customer support to resolve the issue. Start your mutual fund investment by initiating the KYC. Happy Investing:)

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