What is KYC?
KYC is an acronym for “Know your Client”, a term commonly used for Client Identification Process.This would be in the form of verification of identity and address, financial status, occupation and such other personal information. Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.
KYC is a one time submission of PAN copy,address proof and photo.
After submitting KYC form you will be given KYC acknowledgment letter. Copy of that letter has to attached for investment in Mutual funds. Once KYC is registered for a particular folio then you need not attach copy of KYC.
If you are planning to invest in mutual fund in near future i.e from 1st Jan 2011, KYC is mandatory.
Mutual Fund application will not be accepted without KYC.
For existing SIPs, KYC not required. If you want to make additional investment in existing folio, fresh purchase or renew SIP,switch then KYC is mandatory.Application will be rejected without KYC.
Documents required for KYC form:
1. Photo
2. PAN copy self attested and gazetted officer attested/bank manager attested
3. Proof of Address self attested and gazetted officer attested/bank manager attested.
Proof of Address can be anyone copy of Latest Telephone Bill, Latest Electricity Bill, Passport, Driving License, Latest Bank Passbook, Latest Bank A/c statement, Latest demat A/c statement, Voter Id card.
Note: Application has to be filled in Black Ink.
You can also visit www.cvlindia.com for more details or for any query do call me at the below mentioned number.
Inquiry on KYC visit here
