KYC (Know Your Customer) is a one-time customer identification process and a mandatory compliance requirement for investors who wish to invest in mutual funds. It has been made compulsory by capital markets regulator SEBI (Securities and Exchange Board of India) for mutual fund investments in order to curb fraudulent activities.
How to Complete Mutual Fund KYC Process?
The KYC Process can be initiated and completed with any of the following SEBI-registered intermediaries:
- Fund House (Asset Management Company)
- KYC Registration Agency (KRA) such as CAMS, Karvy, CSDL (Central Depository Services Limited) Ventures, NSDL (National Securities Depository Limited) and NSE-owned (National Stock Exchange) DotEx International Limited.
The KYC registration process can be completed both online and offline.
Mutual Fund KYC Completion Process – Offline
Step 1: Visit a branch of a fund house or any of the above-mentioned KRA
Step 2: Fill in the KYC form and submit your Identity and Address Proof.
How to Check If You Are Mutual Fund KYC Compliant?
You can check your KYC status by visiting the official website of any of the above-mentioned KRA and check your KYC status using your PAN (Permanent Account Number).
Documents Required for Mutual Fund KYC Procedure
You need an Identification Proof and an Address Proof in order to complete the KYC procedure. The following documents are accepted as a proof of ID/Address:
|3. Voter’s ID Card|
|4. PAN Card|
|5. Driving License|
|6. NREGA Card|
|7. Passport-size Photograph|