How do you become KYC compliant?

The simplest way to complete your KYC is to complete it online. You must have an Aadhaar ID to do so. Log on to the website of Securities and Exchange Board of India (SEBI) and click on the portal for KYC Registration Agency. Create a profile, enter your Aadhaar details and PAN details.

How do mutual funds become KYC compliant?

In case of video KYC, the investor needs to upload scanned images of proof of identity, address and signature along with a photograph. In case of a physical KYC, a KYC form needs to be filled up and submitted along with address and identity proof (as per prescribed document list).

Where investment is by minor KYC compliance is required from?

Payment instrument (cheque from the minor’s account or from the guardian’s account). It is mandatory for the guardian to comply with KYC formalities for investments in funds. The guardian can operate the mutual fund account till the minor turns 18.

Who can attest the copies of supporting documents in KYC procedure?

List of people authorized to attest the documents: 1. Notary Public, Gazetted Officer, Manager of a Scheduled Commercial/ Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy).

What is KYC compliant investors?

KYC establishes an investor’s identity & address through relevant supporting documents such as prescribed photo id (e.g., PAN card) and address proof. In order to invest in any mutual fund, an investor needs to be KYC compliant.

How do you do KYC compliant online?

Online KYC with KRA

1. Log on to the website of any KYC Registered Agency.
2. Create an account and fill in all the details on the online form.
3. You will have to provide your registered mobile number, PAN Card and other identification details.
4. Upload self attested documents online.

Where can I update my KYC for mutual funds?

To update your mutual fund KYC, you will have to fill ‘KYC details change’ form. You can get this form from the website of mutual funds and registrar and transfer agents (RTA) such as CAMS and K-Fin. Self-attested copy of PAN is a must with all KYC updation forms.

What documents are required for mutual fund KYC?

Proof of Identity (POI): –

• Unique Identification Number (UID) (Aadhaar) | Passport | Voter ID card | Driving license.
• PAN card with photograph.
• Identity card/ document with applicant’s Photo, issued by any of the following: Central/State Government and its Departments. Statutory/Regulatory Authorities.

Is KYC requirements for minors?

Upon a Minor attaining the age of majority (i.e. on completing 18 years of age), he/she must be KYC Compliant and have KYC Acknowledgement of their own.

Is KYC mandatory for minor account?

Documents required to open a bank account for a minor: – KYC documents of the parents/guardian. – Aadhaar card of a minor. – Specimen signature of a guardian. The minor’s specimen signature if he/she is 10 years old or above.

Who is responsible for KYC requirements?

KYC process includes ID card verification, face verification, document verification such as utility bills as proof of address, and biometric verification. Banks must comply with KYC regulations and anti-money laundering regulations to limit fraud. KYC compliance responsibility rests with the banks.

What documents comes under KYC?

KYC Documents Individuals

• Passport.
• Voter’s Identity Card.
• Driving Licence.
• Aadhaar Letter/Card.
• NREGA Card.
• PAN Card.