How to get your mutual fund KYC details changed

One of the prerequisites of investing in mutual funds includes complying with the know your customer (KYC) norms. Whenever there is a change in any of the KYC details—address, name and status—which have already been furnished with the KRA, these changes need to be carried out in order to ensure that the details are updated in the KYC records.

Form

A KYC change form is required to be filled to record changes in these details. This form is available with the fund house or KRA, or can be downloaded from their websites.

Details

PAN details, name of the person (whose KYC records are to be updated), and date of birth of the person are required to be filled, irrespective of any change to be made. The form must always accompany a self-attested copy of the PAN card.

Change in identity

The new name, status (resident/NRI), new PAN, marital status or nationality need to be mentioned in the form and supporting documents for the same need to be submitted. The supporting documents must be the ones mentioned in the form.

Change in address

This includes new correspondence address, new permanent address, or change in contact details. If utility bills are being submitted as proof, these should not be more than three months old.

Verification/submission

The form and documents have to be verified by authorised officials of the AMC, R&T agent, KYD compliant mutual fund distributor or gazetted officer. The copies of all documents should be self-attested and accompanied with originals for verification. A copy of the form is stamped and acknowledged by the KRA.

Points to note

1. In case of an NRI, an authorised Indian bank branch, notary public, court magistrate, judge, Indian embassy of the residing country can attest documents or carry out the in-person verification.

2. Proof of address in the name of the spouse can be accepted.

3. Proof documents with a date of expiry should be valid on the date of submission.



(Content is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta)