How to Validate Your KYC for Mutual Funds
Has Your KYC Status Changed? Here's What You Need to Know
From 1st April 2024, major changes to the KYC (Know Your Customer) process have been implemented based on SEBI’s circular SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated 11th August 2023. These changes affect how KYC Registration Agencies (KRAs) verify investor information, and they can impact your ability to invest in mutual funds.
What Has Changed?
Under the new rules, KRAs must verify the following attributes of your KYC against official government databases:
- PAN (including PAN–Aadhaar linkage as per Rule 114 AAA of the Income Tax Rules, 1962)
- Name
- Address
- Mobile Number and Email ID
If all these attributes are verified, your KYC will be marked as KYC Validated. Otherwise, your status could be KYC Registered or KYC On Hold.
KYC Status Categories
The KRAs have updated investor KYC statuses based on the verification results:
- KYC Validated – All four attributes verified successfully.
- KYC Registered – Some attributes verified; others may require resubmission.
- KYC On Hold – Issues with submitted details; remediation required before transactions.
Implications of Each KYC Status
| KYC Status | Existing AMC | New AMC |
|---|---|---|
| KYC Validated | No implications. | No implications. |
| KYC Registered | Transactions allowed only in AMCs where you already have investments. | You must submit KYC documents each time you invest with a new AMC. |
| KYC On Hold | Transactions allowed only after fixing the reason for the hold. | Same as existing AMC — remediation required before transactions. |
How to Check Your KYC Status
- Visit your KRA website (links below).
- Click on “KYC Enquiry”.
- Enter your PAN details and submit.
- The system will display your KYC status and the proof used.
KYC Contact Details Validation Links
KYC PAN–Aadhaar Validation Links
Tip: If your status is “Registered” or “On Hold”, contact your AMC or RTA for guidance on updating or correcting your KYC.
