Mutual Funds: Before investing in a mutual fund, it is essential to keep your KYC up to date. Before updating your KYC, it is important to first check its status.
You can check it on the website of any AMC or RTA by entering your PAN. Your KYC status will be displayed as ‘validated’, ‘registered’, ‘on hold’, or ‘rejected’.
KYC status: Step-by-step guide
1. Visit any mutual fund’s or RTA’s website where you have an investment.
2. Check for the KYC status link and you can enter your 10-digit PAN (Permanent Account Number)
4. Your KYC status will be displayed as validated/registered/on hold/rejected.
I. KYC validated
Once it is validated, you do not need to take any action. You can do any transaction in any mutual fund anytime.
II. KYC registered
You can continue making transactions in all your existing mutual fund investments without any hassle.
But if you want to invest in a mutual fund where you do not have any investment already, you will have to do KYC again.
You can then get your KYC status changed to KYC validated by doing the KYC update/KYC modification process using PAN and Aadhaar from XML, Digi-locker or M-aadhaar.
III. KYC on hold/rejected
The KYC status on the mutual fund/RTA website will indicate the reason for this status: it could be that the mobile number or email address has not been validated/the PAN has not been linked to Aadhaar, or there is a deficiency in the KYC documents.
So, all you need to do is follow the steps given on the mutual fund website. Once the status changes to ‘registered/validated’, you will be set to start transacting.
Additionally, you can visit the Association of Mutual Funds in India’s (AMFI) website to access the eKYC Modification page of 43 AMCs, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund and Mirae Asset Mutual Fund.
For modification in KYC, you can check the AMFI link here to make the required modification in eKYC.
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