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  1. Home
  2.  > kyc

UNDERSTANDING KYC

  • As part of the Prevention of Money Laundering Act (PMLA), all mutual funds are required to comply with the ‘Know Your Customer’ guidelines. These guidelines enlist steps to ensure all their investors receive due diligence. A systematised process will be put in place by CDSL Ventures Limited (CVL) on the request of the Association of Mutual Fund Industry (AMFI) and mutual funds. This process intends to keep investors away from the hassle of producing proof documents to all funds at the time of investment.
  • This means that all investors have to be KYC compliant to invest in mutual funds.

An investor can apply for KYC to CVL under any of the following categories and sub-categories (based on the mutual fund investor categories):


Individual
Resident Indian
Non-Resident Indian
Please click here for KYC applications for individuals
Non-Individual
Body Corporate
Partnership
Hindu Undivided Family (HUF)s
Trusts
Financial Institutions
Foreign Financial Institutions (FII)
Association of Person
Bank
Government Body
Defence Establishment
Any Other


Documents required for KYC


  • Pan card, proof of address, cheque for investment, photograph (Please refer to the KYC form for documents accepted as proof of address)
  • All documents must be self attested
  • Personal verification can be done at any of the mutual fund branches or our R&T agent branches
Official point of acceptance of documents:
  • Karvy
  • Canara Robeco Branches


SEBI CIRCULAR NO. MIRSD/CIR-5/2012 DATED APRIL 13, 2012


  • In line with SEBI circular No. MIRSD/Cir-5/2012 dated April 13, 2012 and various other guidelines issued by SEBI on the procedural matters for KYC Compliances, the Investors are requested to note the following additional provisions shall be applicable for “KYC Compliances” with effect from December 1, 2012:
  • In case of an existing investor of Canara Robeco Mutual Fund and who is already KYC Compliant under the erstwhile centralized KYC with CVL (CVLMF) then there will be no effect on subsequent purchase/Additional Purchase (or ongoing SIPs/STPs,etc) in the existing folios/accounts which are KYC compliant. Existing Folio holder cannot open a new folio with Canara Robeco Mutual Fund with the erstwhile centralized KYC.
  • In case of an existing investor of Canara Robeco Mutual Fund and who is not KYC Compliant as per our records, the investor will have to submit the standard KYC Application forms available in the website www.cvlkra.com along with supporting documents at any of the SEBI registered intermediaries at the time of purchase / additional purchase/ new registration of SIP/STP etc. In Person Verification (IPV) will be mandatory at the time of KYC Submission. This uniform KYC submission would a onetime submission of documentation.
  • Investors who have complied with KYC process before December 31, 2011 (KYC status with CVL-KRA as “MF - VERIFIED BY CVLMF”) and not invested in the schemes of Canarar Robeco Mutual Fund i.e not opened a folio earlier, and wishes to invest on or after December 01, 2012, such investors will be required to submit ‘missing/not available’ KYC information and complete the IPV requirements. Updation of ‘missing / not available’ KYC information along with IPV is currently a one-time requirement and needs to be completed with any one of the mutual funds i.e. need not be done with all the mutual funds where investors have existing investments. Once the same is done then the KYC status at CVL-KRA will change to ‘Verified by CVL KRA’ after due verification. In such a scenario, where the KYC status changes to ‘Verified by CVL KRA’, investors need not submit the ‘missing/not available’ KYC information to mutual funds again. a) In case of Individual investors, following details needs to be submitted:

    i. Father’s/Spouse’s Name,

    ii. Marital Status,

    iii. Nationality,

    iv. Gross Annual Income or Net worth as on recent date

    v. In-Person Verification (IPV)

    Individual Investors are required to submit ‘KYC Details Change Form’ issued by CVL-KRA available on their website www.cvlkra.com.

    b) In case of Non Individual investors, complied with KYC process before December 31, 2011, KYC needs to be done afresh due to significant and major changes in KYC requirements.

    In person verification is must for KYC compliance. Investors can visit any of our Branches or Karvy Branches for verification with original documents
Mutual fund investments are subject to market risks, read all scheme related documents carefully.