Mutual Fund KYC – How To Do KYC For Mutual Funds Offline

What are Arbitrage Funds?

Mutual Fund KYC or Know Your Customer is a one-time mandatory process for investments in the financial markets. The process involves verification of various things such as identity, address, personal information, nationality, etc. Mutual Fund KYC is conducted in order to ensure there is no money laundering and the financial transactions are not done for any unethical or criminal activities.

Here are a few things you must know about Mutual Fund KYC:

  • Mutual Fund KYC records are maintained by Sebi-registered entities known as KYC registration agencies (KRA).
  • The KYC process can be carried out online as well as offline.
  • In-Person Verification (IPV) is done by AMC, KRA or the distributor by verifying the documents personally.
  • Once KYC is done, one can invest in any mutual fund.
  • Even though a pan is mandatory for doing KYC but even without a pan you can still do KYC, it’s known as micro KYC.
  • The investment limit, in this case, gets reduced to Rs.50,000/per year/ per AMC, however, PAN is mandatory for selling mutual funds.

How can a Mutual Fund Distributor Do Offline Mutual Fund KYC Process?

In this process, mutual fund distributor has to submit the form to the nearby RTA Office, AMC or to the principal distributor

Documents needed for Mutual Fund KYC

  • Signatures on the forms (KYC + AMC Form + BSE Mandate)
  • Pan Card Copy (Self Attested)
  • Address Proof Copy (Self Attested)
  • One Passport Size Photograph
  • Cheque favouring scheme and amount / Cancel cheque (in case zero folio)
  • A distributor has to originally seen and verify (O.S.V) all the documents of the client and do In Person Verification (IPV) stamping on the required places
  • Submit the documents to the nearby registrar or mutual fund office or simply courier them to Nivesh Noida Office.

FAQs About Mutual Fund KYC

Most frequent questions and answers

How can I check my Mutual Fund KYC Status?

Visit www.cvlkra.com, click on the KYC enquiry tab and enter your PAN Number—your KYC status will be displayed and if you do not see any information, it means that you are not KYC compliant yet.
or
Visit www.camskra.com, enter your pan number— your KYC status will be displayed.

Do I need to pay for Mutual Fund KYC?

No, the KYC process is free for investors.

Do I need to get a Mutual Fund KYC done every time I invest?

No, KYC is a one-time exercise. Once it’s done, then you can start your mutual funds investment (product page link)

How will I know what action is needed after checking the status?

Status Actions
Under Process No actions required
KYC Registered No actions required
ON HOLD/ Incomplete The deficient documents need to be submitted
KYC Rejected Fresh KYC documents to be submitted
KYC Not Available Fresh KYC documents to be submitted

Do we have to get a Mutual Fund KYC of a minor while making his/her investments?

No, in this case, KYC of the guardian will be valid.

What is the right format for IPV Stamping in the offline Mutual Fund KYC process?

Your Stamp should have the following details:

  • Distributor Name:
  • ARN Number:
  • EUIN Number:
  • Location:

Where do we have to do IPV Stamping?

  • In all 4 boxes at the back of the KYC form
  • In all KYC supporting documents like pan card, address proof etc