KYC Norms

To check your KYC status click here - http://www.cvlindia.com/inquiry_kyc01.asp

In accordance with the Prevention of Money Laundering Act, SEBI has made it compulsory for all Asset Management Companies and other intermediaries including Registrar and Transfer Agents to adopt the enhanced Know Your Customer (KYC) Policy.

Under this policy every investor who wish to invest Rs.50, 000 or more in Fresh purchase / NFO or Additional purchase of Mutual Funds need to have KYC compliance. If this compliance is not done or if the KYC application is cancelled or rejected due to lack of information / insufficiency of mandatory documents, NO further investment of Rs.50,000 or more will be permitted in the Mutual Funds.

KYC compliance requires the investor to submit the completed KYC Application form along with necessary documents evidencing Proof of Identity and Proof of Address and copy of PAN Card at any designated Point of Service (PoS) centers of CDSL Ventures Limited or any of the DISPL Service Centers.
Proof of Identity would include – Photo-PAN Card copy or PAN card copy and copy of the passport, driving license etc. and the Proof of Address would include – any valid document listed in section B of the KYC Application Form of Individuals. Also a list of Mandatory Certified Documents pertaining to Non-Individual investor’s constitution / registration is mentioned in section C of the KYC Application Form of Non-Individuals.

Upon the receipt and verification of the enlisted documents, a KYC Acknowledgement will be issued to the investors. A copy of this Acknowledgement must be submitted to us as a proof of having completed the KYC and PAN formalities.

Rules for Applicability of KYC to different types of Investors

• Individual Investors – Has to be KYC compliant in order to be able to invest more than Rs.50,000  in a mutual fund.
  
• Joint Holders – Each of the first, second and third Joint Holder as applicable should be individually KYC compliant.
• Minors – The Guardian should be KYC compliant until the Minor has not turned into a Major.
• Minor turned Major – Upon attaining majority should immediately get himself / herself KYC compliant so that he / she can further continue transacting in his / her capacity.
• Power of Attorney (PoA) Holder – Both the User of PoA (i.e. the investor) and the Attorney (i.e. the holder of PoA) should be KYC compliant.
• In case of Transmission of Funds (due to death of unit holder) – The claimant should be KYC compliant.
• NRI – The NRI investor should be KYC compliant. He / She has to submit certified true copy of the overseas address and permanent address along with Passport and other documents in order to get KYC Acknowledgement.
• Person of Indian Origin (PIO) – Has to be KYC compliant as the NRI. But additionally certified true copy of PIO Card has to be submitted along with the docs applicable to NRI.