Update missing KYC information to continue mutual fund investing!

Investors need to update missing KYC information to continue investing in mutual fund investing. There are typically two pieces of missing information

(1) In-person verification of joint holders. Before April 12 2012, in-person verification (IPV) of joint unit holders was not mandatory. When I opened an account with HDFDC mf nearly 6 years ago, only I got the IPV done. Not my wife. HDFC MF sent an intimation that my wife had to get the IPV done now.

Also, from Jan 1st 2012 new KYC norms were introduced and I had earlier submitted the revised KYC form. So my KYC status  was “KYC REGISTERED – New KYC”. My wife did not do this.

(2) FATCA Self-Certification

All unit holders, including residents should submit their tax resident status with a FATCA (Foreign Account Tax Compliance Act) self-certification form along with self-attested PAN card photocopy. This ensures US and Canadian NRIs do not hold any Indian mutual fund units.

This is a madatory requirement even for those with “KYC REGISTERED – New KYC” status.  I dont think IPV is necessary for this. Please check with customer care in this regard.

I was asked to give this form when I with my wife for her IPV.

What you should do

(1) Check the KYC status from here


(2) If it does not say KYC-new, and/or if there is some “missing information”, those unit holders must get their KYC done.  They need to go to any mutual fund customer service location, CAMS or Karvy  with original and photocopies of Pan Card and address proof (suggest you give Aadhar if available), along with “KYC change form” for IPV.

(3) Even if it says KYC-new and missing information entry is blank, you still need to give the FATCA self-certfication form along with PAN card photocopy.

Get this done asap like removing a band-aid. Complaining about paperwork does not help anyone.

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About the Author M Pattabiraman author of freefincal.comM. Pattabiraman is the co-author of two books: You can be rich too with goal based investing and Gamechanger. “Pattu” as he is popularly known, publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis, including a robo advisory template for use by beginners. Contact information: freefincal {at} Gmail {dot} com He conducts free money management sessions for corporates (see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints.

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Updated: December 31, 2015 — 7:52 pm

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