KYC: Know Your Client

If you are an investor who invests Rs 50,000/- or more in mutual funds then it is mandatory to comply with Know Your Client i.e. KYC norms and to to fulfill the same an investor needs to provide additional documents. KYC is used for Client Identification Process.

Documents and Information to be provided by investors:

1. Proof of Identity
A copy of any one of the following document can be provided as as proof of identity.

• Photo PAN Card
• Driving License
• Passport Copy
• Voter ID
• Bank photo pass book

2. Proof of Address
A copy of any one of the following document can be submitted as proof of address:

• Latest Telephone Bill: Land-line (not more than 3 months prior to the date of application).
• Latest Electricity Bill (not more than 3 months prior to the date of application).
• Passport copy.
• Latest Bank Passbook/Bank Account Statement (not more than 3 months prior to the date of application) .
• Latest Demat Account statement (not more than 3 months prior to the date of application).
• Voter ID.
• Driving License.
• Ration Card.
• Rent Agreement.

3. PAN Card
For non individual investors PAN is mandatory.

4. Photograph

A mutual fund investor can get the KYC form from mutual fund houses or distributing agents or it can be accessed directly from AMFI India website also. http://www.amfiindia.com/spages/Individual-KYC.pdf (Form for individual investor)

CVL (CDSL Ventures Limited) through its Points of Service (POS) will accept KYC Application Forms, verify documents and provide the KYC Acknowledgment (across the counter on a best effort basis). List of POS is available here.

Remember: Currently KYC procedure is done free of cost by CVL.