Does a Nominee have to be KYC compliant?
Not while he / she is a nominee. In the event of such nominees stepping into the shoes of a unit holder by virtue of Operation of Law, the nominee has to complete KYC requirements in force at that time. If the nominee is still a minor in such an event, the Guardian of the minor has to be KYC compliant. • Is it necessary for a minor to be KYC complaint? A minor investor does not require to get KYC compliant. In such cases, the Guardian has to be KYC compliant and provide his / her KYC Compliance letter along with the minor’s investment application form. • What happens when the minor becomes a major? On attaining majority, he / she has to apply for his / her independent KYC status, should they choose to invest with us thereafter. Guardians will not be able to use their KYC Compliance letter thereafter for the minor. However they can continue to use such KYC Compliance letter for their own individual transactions. • For a HUF investor, who has to comply with the KYC requirements? The HUF
Not while he / she is a nominee. In the event of such nominees stepping into the shoes of a unit holder by virtue of Operation of Law, the nominee has to complete KYC requirements in force at that time. If the nominee is still a minor in such an event, the Guardian of the minor has to be KYC compliant.
Not while he / she is a nominee. In the event of such nominees stepping into the shoes of a unit holder by virtue of Operation of Law, the nominee has to complete KYC requirements in force at that time. If the nominee is still a minor in such an event, the Guardian of the minor has to be KYC compliant. • For a HUF investor, who has to comply with the KYC requirements? The HUF as an entity is required to be KYC compliant. • For a partnership firm investing in a mutual fund scheme, do all partners have to comply with the KYC requirements or merely the Authorised Signatory (ies)? The Partnership entity is required to be KYC compliant and not the individual partners. Hence all requirements as applicable to a non-individual applicant will apply. • Can the address proof and identity documentary proof, be of any date? Only Permanent Account Number (PAN) card can be submitted as a Identity Proof. However, for proof of address a most recent document has to be submitted (not more than 3 months o
