Following a recent amendment in the Prevention of Money Laundering Act (PMLA) Rules, 2017, linking the customers’ Aadhaar numbers to their respective mutual fund accounts has become mandatory for mutual fund houses. An online facility to link mutual fund investments to Aadhaar has been launched by the Registrar and transfer (R&T) agent, CAMS (Computer Age Management Services). Thus, the customers need to provide the required information to the mutual fund houses. The last date for linking Aadhaar and mutual funds is 31 December 2017.
Steps To Link Your Mutual Fund Investments To Your Aadhaar On CAMS:
Step 1: Go to the CAMS Website,
Click on ‘Investor Services’ on the top panel
Click on ‘Link your Aadhaar’ on the left panel
or visit https://www.camsonline.com/InvestorServices/COL_Aadhar.aspx
Step 2: Enter your registered email and PAN
The page auto-populates with the names of fund houses. If some are missing, undergo this process with the other R& T agents as well.
ICICI Prudential Mutual Fund, Birla Sun Life Mutual Fund, and HDFC Mutual Fund are all serviced by CAMS.
UTI Mutual Fund and Reliance Mutual Fund are serviced by Karvy.
Step 3: Click on the fund houses
Enter registered mobile number and submit
You will get an OTP/one-time password on the same number.
Step 4:
Enter OTP
Step 5: An acknowledgment will be sent
An acknowledgment of one’s email from the UDAI will also be sent.
Steps To Link Your Mutual Fund Investments To Your Aadhaar On Karvy Website:
Step 1: Visit https://www.karvymfs.com/karvy/Aadhaarlinking.aspx
Step 2: Enter your PAN to generate an OTP (will be sent to registered mobile number).
Step 4: Enter the OTP (sent to mobile) and click ‘Validate OTP’.
Step 5 – On validating, a mutual fund companies list in which accounts have been opened would be generated. By default, all the mutual fund AMCs are checked. Hence, your Aadhaar number will be linked to all the folios under the Mutual Funds selected.
Step 6 – Provide your consent to Karvy by checking the box
Step 7 – Enter your Aadhaar number in the field provided and click ‘Submit’
Other Methods To Link Aadhar With Mutual Fund Investments:
Physical Submission: One can even physically submit the form that is duly filled and signed by the investor, to the nearest Karvy / CAMS Investor Service Centre (Locate). It is essential to separate the forms for each holder.
SMS Submission: Send (ADRLNK ) to 9212993399 from your registered mobile number. On authentication, the same will be updated across all your folios at Karvy Computershare.
Post submission of your Aadhaar information through any of the modes specified below, your Aadhaar number will be linked to the respective Mutual Funds database after due verification & authentication, as per PMLA requirements. You will then get separate confirmation after linking.
This is how one can link Aadhaar, on the R&T platform, to MF investments and can authorise the agent to seed one’s Aadhaar number based on PAN or any other combination in all the accounts maintained with the asset management companies for KYC (know-your-customer) and other related due diligence purposes, as per the PMLA requirements and UIDAI guidelines.
The agent is also authorized to download and share the Aadhaar and demographic information with CKYCR (Central KYC Registry), other KYC agencies (SEBI-registered KRAs or KYC registration agents) wherever applicable and warranted by regulators or the PMLA.
Thus, the linking of Aadhaar number with mutual fund investments is mandatory, for all the holders, failing which, the folios will be frozen by 31/12/2017. Follow all the mandates to avoid discrepancies. Do the right things and get your finances in order.
