Securities and Exchange Board of India (Sebi) made changes in the Know Your Client (KYC) documentation owing to which from April 1 the range of documents accepted for proof of identity or address has been changed for mutual fund investors. Completing KYC formalities is pertinent for all Mutual fund investors before initiating their investments.
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Investors need to fill in a KYC form and give valid proof of identity (POI) and proof of address (POA) documents that are registered with a KYC Registration Agency (KRA) by the mutual fund house or a Sebi-registered entity.
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Mutual Fund KYC: Accepted documents
Now accepted proof of identity documents that investors need to furnish include: Aadhaar, Passport, Driving licence, Voter ID card, NREGA job card and any other document sanctioned by the Centre in agreement with the regulator.
Mutual Fund KYC: Documents that won't be accepted
Bank statements or utility bills will no longer be accepted for KYC completion.
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Mutual Fund KYC: How can you complete KYC procedure
{{/usCountry}}Bank statements or utility bills will no longer be accepted for KYC completion.
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Mutual Fund KYC: How can you complete KYC procedure
{{/usCountry}}Investors can complete KYC formalities online by using the Aadhaar-based e-KYC system. You can also log on to the mutual fund website or its registrar or third-party distributor websites that allow investments in mutual funds for the same.
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Investors should have a smartphobe that can access the camera, location and microphone and they can submit a self-attested copy of their PAN card and a signature image on plain paper to finalise the process.