Know How to Check Your Mutual Fund KYC Status Online – Check MF KYC 2022
If you are new to the world of investing, you need to know that KYC is a must for investing in financial products. Without completing your KYC, various financial institutions such as banks, insurance companies, stockbrokers, mutual funds, etc., will not allow you to proceed with your investments.
What is KYC?
Know Your Customer (KYC) is the process through which a financial institution identifies its customers with whom it is dealing. It is a part of the customer identification process. A basis KYC process requires a customer to submit a copy of:
- Photo identity proof
- Address proof
List of documents for Proof of Identity
When applying for your mutual fund KYC, you can submit any of the following documents as proof of identity:
- PAN card (mandatory)
- Aadhaar card
- Voter ID card
- Driving license
List of documents for Address Proof
When applying for your mutual fund KYC, you can submit any of the following documents as address proof:
- Aadhaar card
- Driving license
- Utility bills like electricity bills (should not be more than three months old)
- Ration card
- Registered rent agreement
Please note that the above is not the exhaustive list of documents accepted as identity and address proof. Financial institutions may add new documents or remove existing ones as per directives from the Government.
How to do a mutual fund KYC status check?
You can do your mutual fund KYC check on any of the KYC Registration Agency (KRA) websites such as:
- NDML KRA
- CAMS KRA
- CVL KRA
- Karvy KRA
- Dotex KRA
While checking your MF KYC status, you need to input your PAN and captcha code.
The above image shows how the MF KYC status is displayed on the NDML website.
To proceed with your mutual fund investments, your KYC status must be "KYC REGISTERED".
The “KYC Registered” status means your KYC record is registered with the KRA as per the Uniform KYC requirements of the Securities Markets.
Meaning of various Know Your Customer (KYC) status
When you do your KYC check for mutual fund, one of the following statuses will be displayed:
- KYC Registered: It means the record is registered as per KYC requirements for securities markets
- Under Process: It means the KRA has accepted the KYC record for processing. The verification of KYC is under process at KRA.
- On Hold: KYC is kept on hold due to a discrepancy in KYC documents
- KYC Rejected: The KRA has rejected the KYC record after verification of PAN with other KRAs since such PAN is available with other KRA
- Not Available: The KYC record is not available in any KRAs
- CVL MF Verified: CVL mutual fund verified KYC record
- KYC Registered – Incomplete/Existing/Old KYC Record: The record is registered with KRA in accordance with SEBI Circular MIRSD/Cir-5/2012 dated April 13 (Uploading KYC details of existing customers). This KYC record is incomplete and needs to be updated for missing information by another intermediary when the client approaches another intermediary
- On Hold – Incomplete/Existing/Old KYC record: KYC kept on hold due to discrepancy in KYC documents
- KYC Rejected – Incomplete/Existing/Old KYC record: KRA has rejected the KYC record after verification of PAN with other KRAs since such PAN is available with other KRA.
- Under Process – Incomplete/Existing/Old KYC Record: KRA has accepted KYC record of Existing Client for processing in accordance with SEBI Circular MIRSD/Cir-5/2012 dated April 13 (Uploading KYC details of existing customers). The verification of KYC is under process at KRA.
Planning to invest in mutual funds? Check your KYC
Are you planning to invest in mutual funds? If yes, make sure you check your KYC status before proceeding ahead. Ensure that your KYC is registered to proceed ahead with your investments.