In case you are a New Investors with Tata Mutual Fund and wish to invest for the first time after 30th November 2012 and if you have completed your KYC formalities with CVL prior to 01st January 2012 i.e. as on the date of your investment with Mutual Fund, your KYC status on the CVL website (www.cvlkra.com) reflects as "MF - VERIFIED BY CVLMF" then you need to provide certain “missing /not available” KYC information” as and when you invest for the first time with Tata Mutual Fund.
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary.
What is ‘missing KYC information’ that needs to be provided?
Pursuant to SEBI Circular no. MIRSD/Cir-5/2012, issued on April 13, 2012, all intermediaries are required to obtain ‘certain missing KYC information’ afresh as and when new clients intend to invest with the intermediary. This is the KYC information that has been prescribed by SEBI as part of minimum KYC requirements vide SEBI circular no MIRSD/SE/Cir-21/2011 dated 5th October 2011.
In case of Individuals are, details to be taken afresh are:
- Father’s/Spouse Name,
- Marital Status,
- Gross Annual Income Or Net worth as on recent date
- In-Person Verification (IPV)
In case of Non Individuals,
full KYC needs to be done afresh due to significant and major changes in KYC requirements
Is this requirement applicable to all investors, Existing and New?
The above requirement is mandatory if the investor is a New Investor to Tata mutual Fund and is investing the any of the schemes of Tata Mutual Fund after 30th November 2012.
Existing investors with Tata Mutual Fund who have completed the KYC formalities prior to 01st January 2012 may continue to transact.
Are there any exceptions?
If the New investor has already updated KYC information through some other intermediary (like Depository Participants, Portfolio Managers, Collective Income Schemes and Venture Capital Funds) to trade/invest/deal/open an account, such intermediary will obtain the missing information required to update KRA records and the KYC status by CVL KRA is updated as “Verified by CVL KRA”, there is no need to again update the information through Tata Mutual Fund. In such cases, customers may attach a KYC confirmation letter available from CVL-KRA website.
How to update the ‘missing KYC information’?
In case of Individuals, use the KYC details change form, in this form Section B as well as In Person Verification (IPV) is mandatory.
In case of Non Individuals, full KYC needs to be done afresh. Please click here to download the form duly filled form can be submitted to any office of TATA Mutual Fund accompanied with purchase application form.