How to Get KYC Done Yourself

As per recent regulatory developments, from January 1, 2011, KYC (Know Your Client) is mandatory for investors wanting to transact in Mutual Funds, regardless of the transaction amount. This means you will not be able to process any fresh MF purchases post January 1, 2011, unless you are MF KYC compliant as per CDSL Ventures Limited (CVL) norms.

So you can always ask your broker’s to get you forms and submit them for your KYC but as there are no mutual funds fees they may not be very helpful at times and so it is better you also know how you can get your KYC done yourself. The process is really very simple.

1. Get the Form

The KYC application form is available at the investor service centres of the Fund and CAMS or at any designated ‘Points of Service’ (POS) of CDSL Ventures Ltd. or can be downloaded from your broker, Advisor or AMC. I have uploaded them here for you to download. (KYC Form Individual / KYC Form-Non-Individual).

2. Documents

Documents required to be submitted along with the KYC application form are:

  1. A recent passport size photograph
  2. PAN card copy
  3. Address proof (Recent bank statement will work but if you have get your bank statement in email you need to visit your bank branch to get an original one.)

Once you have the documents ready submit at CAMS Online office in your city. You can find the address of your CAMS Office here or here or here. Make sure you carry the originals along with a xerox copy of the documents because at times they want to check with the originals.

3. Verification

After verification of the KYC application form and accompanying documents, investors will receive a letter certifying their KYC compliance. They normally give you the letter in few hours to a max of 24 hours and there is no charge for this verification.

You can verify your KYC status online here. The day you submit your form your status should be processing and once it is processed your status should become VERIFIED.

Actually KYC need not be done at your broker’s end but some online system does not accept order if they don’t have the data in their own system and so it is better to get that done as well. Once you have the letter you can send that letter’s copy to your broker to update. For ShareKhan you have to Fax the verification letter to 022-24982626 (Details here).

I hope this helps my fellow investors. Share your feedback in comments below.

Comments

  1. nupur says

    Hello

    i want to create a KYC. can i provide rent agreement for address proof instead of bank statement ? because i am shifted to other place and in banks old address is present.

    Thanks

  2. prashant says

    hi ,
    my mom purchased some mutual funds in 2009 and at that time there was no kyc,
    she is no more with and i m d nominee ,kindly help me with the legal formalities for withdrawing the money
    secondly i have lost rest of her investment papers (mutual funds only), how can i get the details without having folio or application nos. and we have closed her old bank a/c as well

    • says

      If you have lost the papers as well as folio numbers how in the first place you know about the investments? Still I think you should be visiting each fund house and talk with them for your scenario and they may be able to help.

      One thing for sure is even if you have closed any account, money can be transferred into those accounts and bank can issue a demand draft as well.

  3. BHUSHAN K says

    Great piece of information Shabbir. Thanks for the useful info.
    I am an NRI, which form do I need to submit (for individual or non-individual)?
    Becuase my DP (SBICAPSEC) say that it should be one for non individual.
    Being and individual NRI investor, I don’t understand how I can submit the details for Certificate or Incorporation / registration etc. Please advise.

  4. Vikas says

    Hi Shabbir,

    Thanks for sharing good information. I have submitted my KYC document 2 months back to sharekhan and fundsindia but my status is still not available in CVL but in NSEKRA its showing existing document received,Could you please suggest what to do.

    Thanks in advance

    Regards
    Vikas

    • says

      Just get the customer care number from the site and talk to them Vikas. I think 2 months is a long time for not available status and it could be that documents are misplaced or something.

  5. Kirit says

    Great relevant information, in the information overload age good job.
    I have one question I am KYC compliant but have not received received KYC compliance letter? but when I check my status it is come out verified… do I need KYC compliance letter? if so how do I go about getting?

  6. Monil says

    Hi Shabbir

    Thanks for compiling the relevant info on this single page. It sure is helpful. It would also help if you could start a topic/share you thoughts, on how to start being independent and earn income from various options available today instead of working for someone and be dependent on single income for livelihood. For people on to a full time job, these times are uncertain and we need to look beyond our monotonous jobs and becoming entrepreneurs. You are a good example of what more people can do in their lives.

  7. madhuri says

    Hi Dear,
    Thank you very much for this very useful information. I am very irritated with all this KYC thing now cos, I have submitted a form n all required documents at HDFC bank 4 weeks ago. Now i am not able chek my status, its showing no status for this PAN no!! I am trying to communicate wid the guy from the bank, he is not responding…..what should I do now??? can I fill the form myself now n do it again??? Cos i want to start investing in MFs as early as possible…PLS HELP….

  8. zia nomani says

    i have tata mutual funds wich ws bought by my dad wen i ws a minor…now to get it transfeered to my name i need to make a KYC…but de CAMS office in my city dsnt issue KYCs…is it possible to KYC thru sum agent or firms??lyk sharekhan or TATAMF itself??

  9. Sowmya says

    Will I be able to submit my KYC form after November 30th ?
    I am unable to submit it this week since I am out of station and dont have necessary docs now….

  10. Harish says

    Hi Shabbir,

    I am in process of applying Home loan with private bank in India, they asked me to get the KYC id and address proof, currently i am residing out of India. Can you guide me how to get it done?

    Regards
    -Harish

  11. Mani P R says

    Sir,
    i had done KYC through Geojit for mutual fund investment.
    On CVL site i see the status as Rejected – Present in NDML,
    KYC /modified date : 26 Sept 2012 16:56:33.
    On checking at NDML it shows as Under Progress- Incomplete KYC (Existing/OLD record), KYC registered/updation date :27/08/2012 , 9:34:24 PM
    Kindly advise what it means. I thought registration is required only at CVL. Does NDML have any role ?
    Thank you

      • Himanshu says

        Hi Shabbir,

        My KYC was processed by Sharekhan, and I got the final KYC done ack from NDML. But many AMC don’t accept the KYC from NDML, like SBI asked me to done it again, I filled the form and submit all the required docs, later I checked it on the CVL site, I got the message that “REJECTED – PRESENT IN NDML”.

        It seems botyh the organizations CDSL & NDML first verify the entries in each others batabase.

        My Q: Why AMC prefers KYC from CSDL not from NDML ?

          • Akshay says

            Himanshu, not sure if you’ve already resolved your problem, but I faced a similar situation. I submitted my KYC to a mutual fund, which took the documentation, and then the KYC was rejected with the message, “Rejected – Present in MDNL”.

            My banker at Axis Bank (thanks guys!) explained to me that this is because I likely have a stock brokerage account that I thought I had closed but probably hadn’t fully closed, and this turned out to be the case.

            So, Himanshu, look through all your paperwork and see if there are statements from any stock brokerage account. Call them up one by one and see where your accounts are still open, and then either close them, or have them update your KYC. Hope this helps.

    • PANKAJ JUYAL says

      firstly, rejected – Present with NDML means- that you have a account with a broker who have a NSDL DP , so that why when you done your’s kyc through CVL its gets rejected
      Secoundly, in NDML under process-incomplete kyc means that your’s full information of kyc is not submitted to your DP so fill up the KYC form along with the documents and submit where you have open the account

  12. Dheeraj says

    Hi Shabbir,

    It is showing my KYC status as “FRONT OFFICE & PHYSICAL VERIFICATION DONE” in given link. Does it mean verified or not verfied?

    Thanks in advance.

    Dheeraj

  13. Bhawana says

    Hi Shabbir,
     
    After retirement, my parents invested in quite a few mutual funds (its been more than 5 years).  After some time they permanently moved from Rajasthan to Delhi.  We have got the address updated on mutual funds, but KYC is not done on any of them.  How to get the KYC done on those.
     
    Once the market is up, we are planning to sell the mututal funds.  Our agent doesn’t help us in it (as he gets quarterly/yearly dividend on it and also we have moved from Rajasthan).  I do not have knowledge on this.
     
    Please help me in this.

    • says

      Bhawana, KYC is needed if you want to invest more and so unless you want to invest more, you should not worry about KYC. It is better to get it done but it does not matter if you have a KYC done or not for the old funds and they would work as normal.

      Your agent would get nothing and so don’t expect any help from him.

      For redemption all you have to do is have a statement of the funds and redemption form can be submitted to the fund house at your near location and the money would get credited to your bank account.

  14. Virendra Gupta says

    Bajaj Capital does not accept KYC Form without investment application.

    I have read at Sundram site that Investment application is not required for those who are already KYC Verified and want to change address etc. But Bajaj refused to entertain the application

    • says

      Why should Bajaj Capital accept KYC application? Actually any fund house if they accept the KYC application actually submits the form to the near KYC office and so it is better to be doing that yourself because that would mean you get the acknowledgement of submission yourself.

  15. says

    I have inquired about status ‘Front Office Verification Done’, they said that from where ever you have submitted your form and Documents, Documents and form are verified and forwarded to CDSL for further process.

  16. Ramya says

    Hi Shabbir,

    My KYC status says “Verified”, but I didnt receive any acknowledgement/Letter from my MF Agent. So, will this be a problem if I have to invest in new MFs?

    Please let me know, what to do to get the letter/acknowledgement of Verified KYC.

    Regards
    Ramya

    • says

      When you submit your documents you should get something in return and that is the acknowledgement. Ask the person who submitted your document for that sake but if you have verified KYC you can use the document from the website as well because majority of fund houses accepts that as a document for KYC.

  17. Stephen says

    Dear Shabbir,

    It was a visual delight to see “Verified” on CDSL website. I thank you for providing all the vital information in this website which was of immense help to layman like me.Thanks for your support.

    Warm Regards,

    Saravanan.S

  18. Stephen says

    Hi Shabbir

    I submitted my drivers Licence and today I called up CDSL they informed that the Validity date mentioned on the reverse of Drivers Licence is not legible.They also asked me to send the self-attested, notarised proof of address to the email ID and office address as well.The TAT would be ASAP it seems. Thanks for your assistance

    Regards,
    Stephen

  19. Stephen says

    Hi Shabbir

    I submitted KYC form on 14 feb 2011.The status has changed from front office and physical verification done to HOLD – Proof of Address- validity date not legible. I am not sure what to do .Your help in this regard would be most welcome.

    Regards,
    Stephen

  20. Makar says

    FRONT OFFICE VERIFICATION DONE
    I dont know what the hell is going on after 3 month of submitting KYC request, also the CDSL site does not provide the meaning of different status.

  21. says

    I have applied for KYC on 19–Jan–2011 and the present status is :
    “FRONT OFFICE & PHYSICAL VERIFICATION DONE”

    Does it mean it has been successfully verified? If not how many days more will be reuired to get it done?

    Thanks in Advance!!!

    Regards,
    Vinay

  22. Vinay says

    Hi Shabbir,

    I applied for KYC on 19/01/2011 and the oresent status is:
    “FRONT OFFICE & PHYSICAL VERIFICATION DONE”

    Does it mean the verification is done?? If not how many days more will be required??

    I appreciate your work!! Many Thanks in Advance..

    Regards

  23. channaveer nandennavar says

    Hi

    I have applied for KYC on 18/02/2011 and its now showing “FRONT OFFICE VERIFICATION DONE” what does this means and i want to know still how many steps are there for my KYC to get verified and what are they

    Regards
    Channaveer N

  24. says

    Hi Shabbir,
    Purchased your chart pattern e-book and worth for money. THanks.
    applied for KYC around 15 days back. But still says “at present in process”. How many days it will take in general?

  25. SAURAV says

    do we need to apply separately for KYC to invest in different mutual fund, or only one KYC application is enough for all mutual fund?

  26. Sujith says

    Can I do KYC in another city where I am not a resident of? In my case I am in Hyderabad for the next 2-3 weeks – I am a resident of Bangalore – Can I give the KYC papers in Hyderabad?

  27. Gagan says

    Hi,

    I submitted my docs for KYC in Dec 2010. From more than 40 days its showing same status : “PRESENT IN PROCESS”. As the fiscal year is ending, I may not be able to do my ELSS investments if KYC is not cleared in next 15 more days. Please help, what should I do?

    Thanks

  28. channaveer nandennavar says

    Hi

    My broker is Karvy and i am investing in stocks,mutual fund through this broker by online but now a days when i try to invest in any mutual fund its showing “KYC certification not yet done so could not place order above 1.00000″ what is this because i have filled the KYC form during opening of my karvy demat account

  29. Nagendra says

    Even in my case I submitted KYC on 26th Jan and till 5th Feb it was showing invalid data. Now, the status is changed to “PRESENT IN PROCESS-DOCUMENT YET TO RECEIVE”.

    Not sure what this status mean? Is there an explanation on what each KYC staus mean?

  30. Rajesh says

    I have submited my documents on dec 31, 2010 for KYC
    till feb 1, 2011 it shows Present in process but today feb 3, 2011 it shows invalid data, my quiry is that what does it mean & how much time it will take to verify.

  31. says

    I have submitted my KYC form on 11 Jan 2011. As per acknowledgement recd from CVL it must be done within 10 working days but till today it has not done showing status in process. After enquiry ti CVL they are replying very shrudly that it will take another 2 -3 weeks. Why we suffer for CVL’s poor infrastructure and delayed working.

    Rajendra

    • Smita says

      Hi,

      Where did you do the enqiry. Do they have any customer Care number.

      I have applied on 1st Feb and sinc last 3 weeks it is showing as ‘Present in Process’.

      Can someone confirm where can we do the enquiry? Phone number?

  32. Prasanna says

    i have 40,000 in hand.like to invest in ELSS
    is it good to invest in TWO funds or more than two funds
    pls.guide
    selected Fidelity,can robeco,HDFC tax saver- all Growth

  33. Suraj says

    Thank you Shabbir for great piece of information about KYC. Generally how many days does it takes KYC application to come to verified state. I have submitted the KYC application through HDFC bank on November 16th 2010 (along with proper documents) and still my KYC status is “PRESENT UNDER VERIFICATION” since 1/12/2010.

    My whole purpose of applying for KYC is to invest in Mutual Funds through HDFC bank Investment Services Account (ISA). Also HDFC Bank is charging some fees per quarter just to hold ISA account. Let me know if there are any alternatives for mutual fund investment.

    • Banyan Financial Advisors says

      Hi Suraj,
      Generally all investment accounts would now start charging for holding ISA account. Alternatively you can do your Mutual Fund investments offline as well. Since SIP is the best form of investing in mutual funds, whether you do it online or offline, it makes no difference. For most of our clients we go via offline route. In such case you need not require any kind of account. We offer this service to all our clients free of cost.
      Should you think you require our assistance, please feel free to contact us at info@banyan-fa.com.

  34. Joby says

    nice one Shabbir.

    I would like to add some thing for NRIs. For NRI customers, they will accept NRE account statement attested by bank manager as overseas address proof. Otherwise we have to submit a document from overseas, attested by some authorized person in overseas(overseas bank manager, solicitor etc).

    Regards,
    Joby

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