KYC Form

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KYC Form

1. What is CKYC?

Central KYC Registry (CKYCR) is a centralized repository of KYC records of customers in the financial sector with uniform KYC norms. Government of India has authorized the Central Registry of Securitization and Asset Reconstruction and Security interest of India (CERSAI), set up under subsection (1) of Section 20 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, to act as, and to perform the functions of, the Central KYC Records (CKYC) Registry under the PML Rules 2005, including receiving, storing, safeguarding and retrieving the KYC records in digital form of a “client”, as defined in clause (ha) sub-section (1) of Section 2 of the Prevention of Money Laundering Act, 2002. As per the new KYC norms, once the customer completes the KYC process with an entity authorized to conduct KYC, the customer will be able to invest in all the

online trading

financial products including Mutual Funds using the 14 digit KYC Identification Number (KIN) issued by CKYC. As the mutual fund industry is already having KRAs, as a first step, CKYC is being implemented for “New Individuals” for whom KYC is administered by the Intermediaries, effective 1st Feb. 2017. There will be slight change in the KYC form, which encompasses KYC with KRA as well as CKYC.

Applicability of KYC norms:

W.e.f. 1st February 2017, investors will be categorized as below for adhering to CKYC norms:

  • a) New investors (i.e. Investors who are not KYC compliant (i.e. through KRA)):
    (i) Such investors should submit the new CKYC form along with the investment application form. (ii) If such investor has filled the KRA form, then Supplementary CKYC form has to be additionally enclosed.
  • b) Existing investors (i.e. Investors who are KYC compliant (through KRA):
    There are no new / additional requirements for existing investors. They can continue investing.
  • c) CKYC compliant Investors (i.e. who have completed their CKYC formalities and obtained a KIN through an intermediary):
    No further KYC formalities are required to be done

Please click on the links given below to download the respective

CKYC Forms CKYC Change Forms
CKYC -Individual Investors Coming Soon
Supplementary CKYC – Individual Investors (If Investor filled KRA form)
Non-Individual Investors

2. What are the supporting documents required to be submitted along with the KYC application form?

For Non-Individual Investors

List of mandatory documents to be submitted are
Company / Body Corporates

  • Certificate of Incorporation
  • Memorandum and Articles of Association
  • Resolution of the Board of Directors
  • Authorised signatories list with specimen signatures

Hindu Undivided Family (HUF)

  • Deed of declaration
  • Latest Bank Passbook / Latest Bank Account Statement

Partnership Firm

  • Certificate of Registration
  • Partnership Deed
  • Documents evidencing authority to invest
  • Authorised Signatory list with specimen signatures

Trusts, Foundations, NGOs, Charitable Bodies, Clubs / Mutual Fund Schemes

  • Certificate of registration
  • Trust deed
  • Authorised Signatory list with specimen signatures
  • Scheduled Commercial Banks and Registered Financial Institutions not incorporated under the Companies Act, 1956 / Regulatory Bodies / Army / Government Bodies / Any other bodies created / incorporated / registered under state or central legislation being eligible to invest in Mutual Funds
  • Copy of Constitution / Registration documents - Documents evidencing authority to invest - List of authorized signatories

Unincorporated association or a body of individuals

  • Proof of Existence / Constitution Document.
  • Documents evidencing authority to invest.
  • Authorised Signatory list with specimen signature.

Foreign Institutional Investors (FIIS)

  • Letter and Certificate of Registration issued by SEBI.
  • Authorised Signatory list with specimen signature

For non resident Indians

Non resident Indians residing out of India need to submit the following supporting documents as proof of identity and address

  • Certified true copy of the passport
  • Certified true copies of proof of overseas address and permanent address

If any of the documents (including attestations / certifications) towards proof of identity or proof of address specified above are in a foreign language, they have to be translated into English before submission.

3. How does an investor transact in Mutual Funds after completing the KYC process?

Investors must attach their KYC acknowledgement letter along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in a folio of a Mutual Fund. This has to be done for each folio. Applications Forms / Transaction Slips not accompanied by the KYC Acknowledgement are liable to be rejected by Mutual Funds.

4. Does the KYC Acknowledgement have an expiry date?

No. Once the KYC Acknowledgement is obtained and informed to a Mutual Fund, it will be registered against the folio. The same will exist in perpetuity, unless cancelled by CVL.

5. What do I do if I need to inform of a change in Name/Address/Status/Signature etc.?

You should intimate your change of Name / Address / Status / Signature etc. to any PoS. You need to submit a copy of your KYC Acknowledgement and proof of new address (in case of change of address) along with the application for the change.

For any change request, the application form can be obtained from www.cvlindia.com. All details of holders as changed and updated with CVL will be replaced in the records of all Mutual Funds.

Please provide for at least 7 days for the changes to take effect with all the Mutual Funds with whom you are invested. Remember that the address registered with CVL is the final address. Intimating your change of address to Axis Mutual Fund or to the Registrar of Axis Mutual Fund is not sufficient.

For further details, please refer to www.amfiindia.com or www.cvlindia.com.