Why you shouldn’t miss KYC completion for mutual funds?

If you are a mutual fund investor then you must be aware of the importance of doing KYC for mutual fund. In case, you are considering to start investing in mutual funds and do not have much idea about it, then you should start with understanding the importance of KYC in terms of mutual fund investments. It is now mandatory to submit all the necessary identification details to the houses of mutual funds before you start investing in them. The process of completing your KYC is free and it needs to done to keep your money secure.

The documents needed for KYC:

When you are deciding to do KYC for mutual fund, you need to know what documents you will need to submit to the authorities. The first thing you will be needed is a KYC form. You can download the form over the internet or you can take help of any agent or broker who is helping you with the entire process.

After filling up the form the documents that you need to attach to it are mentioned below:

• Identity proof
• Address proof
• PAN card
• Aadhar card
• Photograph

You need to attest these documents yourself and you will need the original copies of these documents when you go for verifying them.

Submitting the form:

When you are done with filling up the form properly and attaching all the required documents you will have to submit the form to one of the following junctures.

• You can submit it to the Assent Management Company (AMC). It refers to the institution with whom you will be investing with.
• You can also choose to submit the form to Registered Transferred Agent (RTA) like Karvy, CAMS or Franklin Templeton.

Choosing to get the process done online:

If you are more comfortable, doing things online than physically investing in the process then you can opt for doing eKYC. Opting for this process will get your verification done online. This ensures that the process is done without any hassle and is completed faster and in a smoother way.

The eKYC process enables you to provide self-authorization to UIDAI (Unique Identification Authority of India) so that you can use your Aadhar card for the process of verification. Once you get this authorization done, the institutes you will be investing with will be able to gain access to your details like your age, residential address, name, gender and thumb impressions and eye retina as well.

This online verification of your KYC is then linked directly to your Aadhar card details and it is checked against your PAN card details as well. In any case of discrepancies regarding information, you can be contacted by RTA or AMC.

These are the key things that you need to be aware of regarding the KYC in terms of investing in mutual funds. Another thing to keep in mind is that no matter with how many schemes you invest, you need to do this process only one for a lifetime of safe investment in mutual funds.