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Mutual Funds - How to get your mutual fund KYC details changed

30 Sep 2015

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One of the prerequisites of investing in mutual funds includes complying with the know your

customer (KYC) norms. Whenever there is a change in any of the KYC details—address,

name and status—which have already been furnished with the KRA, these changes need to

be carried out in order to ensure that the details are updated in the KYC records.

Form

A KYC change form is required to be filled to record changes in these details. This form is

available with the fund house or KRA, or can be downloaded from their websites.

Details

PAN details, name of the person (whose KYC records are to be updated), and date of birth

of the person are required to be filled, irrespective of any change to be made. The form

must always accompany a self­attested copy of the PAN card.

Change in identity

The new name, status (resident/NRI), new PAN, marital status or nationality need to be mentioned in the form and supporting documents

for the same need to be submitted. The supporting documents must be the ones mentioned in the form.

Change in address

This includes new correspondence address, new permanent address, or change in contact details. If utility bills are being submitted as

proof, these should not be more than three months old.

Verification/submission

The form and documents have to be verified by authorised officials of the AMC, R&T agent, KYD compliant mutual fund distributor or

gazetted officer. The copies of all documents should be self attested and accompanied with originals for verification. A copy of the form is

stamped and acknowledged by the KRA.

Points to note

  1. In case of an NRI, an authorised Indian bank branch, notary public, court magistrate, judge, Indian embassy of the residing country can attest documents or carry out the in person verification.
  2. Proof of address in the name of the spouse can be accepted.
  3. Proof documents with a date of expiry should be valid on the date of submission



Source: The Economic Times BACK

To be added soon

Priyanshu B. Tanna

SEBI registered IFA

ARN119467 & EUIN E-183966

To be added soon

Bharat Tanna

SEBI registered IFA

ARN26176 & EUIN E-044509

To be added soon

Kundan B. Tanna

SEBI registered IFA

ARN294073 & EUIN E-553599

Risk factor

Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans.

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