Link Mutual Funds with Aadhaar
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As of now, Aadhaar card linking with mutual funds has no deadline, because the last date of linking has been deferred on March 13, 2018, by the Supreme Court until any further notice. But the linking is required for KYC verification process. So, if you are looking to link your Aadhaar card with your mutual fund investments, here are the four suggested methods for you to opt:
Offline Method: at registrar's office
The offline method involves the physical KYC process through the Registrar. The Registrar and Transfer (R&T) agents, such as CAMS and KARVY, have provided the offline options for the investors, which are beneficial for those who don't have a email ID or mobile number registered in their account. Here are the three simple steps to follow:
- Visit any of the registrar’s websites and download the form.
- Fill all the required details along with the folio number and attach the self-attested copy of your Aadhaar card with the form.
- Submit the form at the registrar’s office or service centres
SMS Method:
- Type "ADRLNK' on your mobile and send an SMS to +919212993399 through the number already registered with the company.
- A confirmation message will be sent to you after the completion of the procedure.
Online Method:
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Seeding Aadhaar-Mutual Funds by Registering with the Funds House:
If the investor has invested in a single fund house, the Aadhaar can be linked in few simple steps by registering with the fund house:
- Visit the website.
- Enter your PAN card details.
- Choose the option ‘You are not KYC compliant’
- Enter the registered mobile number and other details required for the completion of KYC process.
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Linking Aadhaar and Mutual Fund Investments on CAMS Online?
- On the navigation tab of CAMS website homepage, click on ‘Investor Services’ section.
- On the new page, you will see the ‘Link Your Aadhaar’ option on the left-hand side navigation panel. Click on it.
- You will be again redirected to a new page, showing a list of actions to choose from. Click on the option ‘For Resident Individuals-Online Mode’ to proceed.
- Submit your PAN card details to move towards other details such as Aadhaar number and personal details such as name and date of birth as mentioned in Aadhaar card.
- Fill all the required details along with the registered mobile number on mutual fund account.
- Click on ‘Generate OTP’ button.
- An OTP will be sent to the registered mobile number.
- Enter the OTP details and complete the submission process.
- A confirmation message will be sent to you after the verification.
By linking mutual fund investments with Aadhaar on R & T agents platform, an individual is authorizing CMS or any other agent to download and share Aadhaar information with Central KYC registry and other KYC agencies (SEBI- registered KYC registration agents) wherever applicable.
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FAQs for Linking Mutual Funds with Aadhaar
Trusts or Institutions who register and maintain the detailed records of the transaction of the investors. R&T agents act as an intermediary in the back-end process of mutual funds, financial (buying and selling) and non-financial transactions (such as changing the bank details, contact details). Through R&T agents, an investor can get information about mutual funds of different fund houses at one place.
As per the amendment in Prevention of Money Laundering Act Rules, 2017, it is mandatory to link mutual funds with Aadhaar, though the deadline has not been fixed due to which financial institutions have been guided with certain rules which they are asking their customers to comply with:
- In circumstances where the client is eligible for getting enrolled in Aadhaar, he shall submit the Aadhaar number and PAN or Form number 60.
- In conditions where the Aadhaar has not been assigned to the investor yet, he or she shall submit the proof of application of Aadhaar enrolment. In case the client doesn’t have the PAN card, he should submit any other officially valid document containing details of identity and address, photograph and other similar documents with respect to the nature of the business.
- If the client is not eligible for Aadhaar enrolment, then he shall submit the PAN card copy or Form no.60 as per the Income Tax Rules, 1962.
Aadhaar number of all the account holders should be linked to mutual fund accounts with the same process as it is for an individual.
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