KYC is now compulsory!

As you are aware that w.e.f 1st January 2011, KYC is mandatory for all MF investors, irrespective of amount of investment.

Please find the operational guidelines as well as revised guidelines for Micro SIP.

I) KYC will be mandatory for the following trxn

– New / Additional Purchases.
– Switch Transactions
– New SIP Registrations (including SIP related products) received from effective date.
– New STP Registrations (including STP related products like trigger facilities) received from effective date.
– New DTP Registrations (including DTP related products) received from effective date.

II) KYC will not be mandatory for the certain nature of transactions and type of clients

– Micro SIPs upto Rs. 50,000 per year per investor
Documents require:
1) Standard specified identification instruments like Voter ID card, Government/Defense ID card, Card of Reputed employer, Driving License, Passport in lieu of PAN.
2) Proof of address copy, where photo identification documents contains the address of the investor, a separate proof of address is not required.
Supporting documents copy shall be self attested by the investor / attested by the ARN holder mentioning the ARN number or attested by any competent authority.

– Investments from Investors residing in Sikkim.
Documents require:
1) Proof of address of Sikkim state and application form should mention the same address.
2) Address proof shall be self attested by the investor / attested by the ARN holder mentioning the ARN number or attested by any competent authority.
3) Existing SIP / STP / DTP registrations (and similar facilities) including those received till December 31, 2010
4) Dividend reinvestment transactions of any amount.

Source: Email

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One Response

  1. […] all know that KYC is mandatory and most of us do not know how to check the KYC status. yes now we can check KYC status online with […]

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