How MF investors can provide additional KYC information for FATCA/CRS compliance

Effective November 1, 2015, all new investors who wish to purchase units of mutual funds have to provide additional KYC related information required for Foreign Account Tax Compliance Act (FATCA)/CRS compliance.

From January 1, 2016 even existing investors who wish to make fresh purchases, need to complete the additional KYC requirements.

Form

‘Supplementary KYC, FATCA, CRS selfcertification form’ needs to be filled by the investors to comply with the additional KYC requirement. This form is available on mutual fund or Registrar’s websites and is available at investor service centres of AMCs.

Information

The form requires an individual to provide information about his/her country and place of birth, occupation, income details, net worth, whether he is a politically exposed person, tax residency status and tax identification number. If the investor is a tax resident of that country, details about the taxpayer identification number and the name of the country also needs to be provided.

Documents

If PAN has not been provided, permissible documents include passport, election ID card, Aadhaar card, driving license, NREGA or a government ID card. In case tax-payer identification document is not available, an explanation needs to be attached.

Physical submission

The said form, duly signed by the investor, along with necessary documents, may be submitted at any AMC branch or investor service centre.

Online submission

R&T agents offer facility of filling up an online form. PAN needs to be submitted to generate form and OTP is sent to registered email ID and mobile number.

Points to note

– The form needs to be filled up by all joint holders, guardian of a minor as well as power of attorney holder.

– This information is required to be provided by all individual investors, irrespective of whether they are residents of India or not.

– Non-individual investors are required to submit a separate form providing ultimate beneficial owner (UBO) information on similar lines.