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KNOW YOUR CLIENT (KYC)
 

In order to comply with regulatory provisions under the Prevention of Money Laundering Act 2002, Rules issued thereunder and related guidelines/circulars issued by SEBI, KYC formalities are required to be completed for all Unit Holders, including Guardians and Power of Attorney holders, for any investment (whether new or additional purchase) of Rs. 50,000 or more in mutual funds. For the convenience of investors in mutual funds, all mutual funds have made special arrangements with CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL)).

 
DOCUMENTS AND INFORMATION TO BE PROVIDED BY INVESTORS:
 
Investors in mutual fund schemes have to provide:
(1) Proof of Identity
(2) Proof of Address
(3) PAN Card
(4) Photograph
(Click here for List of documents)
 

The originals of these documents along with a copy each to be presented and the original will be returned after verification. Alternatively, investors can also provide an attested true copy of the relevant documents. Attestation could be done by Notary Public/ Gazetted Officer/ Manager of a Scheduled Commercial Bank.

 

Instead of providing the required documents again and again to different mutual funds in which one would like to invest, CVL, on behalf of all mutual funds will carry out the process of KYC and issue an acknowledgement.

 

Investors have to provide the relevant documents and information ONLY ONCE for complying with KYC. After that Investors could invest in the schemes of all mutual funds by merely attaching a copy of the KYC acknowledgement slip with the application form / transaction slip when investing for the first time in every folio (Post KYC) in each Mutual Fund house, without the necessity to submit the KYC documents again.

 

Any subsequent changes in address or other details could be intimated to any of the POS (with relevant documentary evidence) (Click here for Change Form Individual) / (Click here for Change Form Non-Individual) and the same will get updated in all the mutual funds where the investor has invested.

 

This facility is being provided absolutely FREE OF COST to the investors. To begin with, investors investing Rs.50,000 or more will have to comply with KYC effective from 1st February, 2008.

 
WHERE TO COMPLETE THE FORMALITIES:
 

Investors could complete the formalities by submitting the KYC form (Click here for Individual KYC Form) / (Click here for Non-Individual KYC Form) and relevant documents at the Points of Services (POS). (Click here for List of POS) To start with, these POS will be the select branches / offices of mutual funds, registrars and select branches of some distributors. The application form for complying with KYC will be available from these POS. The application form could also be downloaded from CVL www.cvlindia.com. Investors could contact offices of mutual funds, registrars and mutual fund distributors (ARN Holders) for further details and assistance.

 
Frequently Asked Questions (FAQ)
 
 
 
 
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