Mutual Fund KYC Process: KYC is very important for investing in mutual funds. In this, proof of identity and address, such as Aadhaar, PAN or passport, is submitted along with photo and signature. Now this KYC process can be done from the post office as well. Postal employees will help in this matter.
Mutual Fund KYC Process: A big news has come out for mutual fund investors. It will become even easier for them to invest. KYC verification and document collection services for mutual fund investors will now be provided through post offices. Post office employees will help investors fill KYC forms, verify self-attested documents and transfer them to asset management companies. In fact, the Postal Department has signed a Memorandum of Understanding (MoU) with the Association of Mutual Funds in India (AMFI).
This move of AMF will provide great relief to mutual fund investors. Now they will be able to easily complete the KYC process from the post office. Let us tell you that KYC is necessary to invest in mutual funds. In this, proof of identity and address, such as Aadhaar, PAN or passport, is submitted along with photo and signature. Postal employees will help to complete KYC.
New rules for KYC in mutual funds
From April 1, new rules have come into force regarding KYC in mutual funds. Under this, it is now mandatory for mutual fund investors to get PAN and Aadhaar verified. If you have ever done verification without these documents, then you will have to get KYC done again for new investment.
Know what is KYC?
KYC means Know Your Customer. In this process, customers are usually asked to submit their ID proof such as Aadhaar card, PAN card, passport and address proof such as water or electricity bill. This helps in confirming the identity and address of the customers and helps in preventing illegal activities like fraud and money laundering. This increases transparency between financial institutions and customers.
How to get KYC done in post office?
1 – Go to your nearest post office where KYC facility is available.
2 – Go to the counter and ask for KYC update/registration form. Fill your name, address, PAN, Aadhaar, mobile number etc. correctly in the form.
3 – Submit the required documents.
4 – Biometric or OTP verification will be done.
5 – Submit and get the receipt. KYC will be updated in 2 to 5 working days.
How to check mutual fund KYC status?
1 – Visit the website of any mutual fund company or registrar and transfer agent (like CAMS, KFintech).
2 – Click on the KYC Status or KYC Check link.
3 – Then enter your 10-digit PAN number.
4 – Your KYC status will appear on the screen.
5 – It will say Validated, Registered, On Hold or Rejected.
