When you are ready to invest in a particular investment portfolio, it is mandatory to provide with the KYC details. The KYC details, implies Know Your Customer details. The basic fundamental behind providing with the comprehensive detail of the customer is to avoid any sort of fraud related to money and at the same time avoid taxation frauds. In order to further take care of all sorts of frauds there have been put forward new norms for KYC for Mutual fund investments. More info@http://goo.gl/NsUa8U

1. New KYC Norms for MF Investments
When you are ready to invest in a particular investment portfolio, it is mandatory to provide with the
KYC details. The KYC details, implies Know Your Customer details. The basic fundamental behind
providingwiththe comprehensivedetailof the customer is to avoid any sort of fraud related to money
and at the same time avoidtaxationfrauds. Inorderto furthertake care of all sorts of frauds there have
been put forward new norms for KYC for Mutual fund investments.
What are the new KYC norms for Mutual Fund investment?
There are the following KYC norms for Mutual fund investments which you should be well aware of:-
1. The Associationof Mutual funds of India (AFMI) have come up with a circular pertaining to the
mutual fund collection in the month of September this year. In accordance with this circular
there isdirective tothe mutual fund companies tocollectall the additional information fromthe
new investors, which have invested after Nov 1, 2015. This is in accordance with the norms of
FATCA and Common Reporting Standard. In fact, from January 1, 2016, it is going to be
mandatory for the investors to provide with the additional information.
2. In orderfor the US Governmenttokeepa tab on the taxation and avoid tax evasion, the FATCA
has been signed. It is an inter government agreement which is signed, between the US
Government and 50 countries. In accordance with FATCA, the financial institutes which are
dealing with US citizens have to disclose the income pertaining to their clients.
3. CRS is also another organisation which incorporates G20 and OECO. It is formed with the
objective of tackling the outflow of black money abroad and deal with tax evasion.
4. In the new KYC details, the investors will have to provide his or her gross annual income, net
worth, and occupation, country of birth and source of wealth.
5. However,if the investoristax residentinanyothercountry,thenhe or she will alsobe required
to provide withtax identificationnumberandthe countryinwhichhe is liable for tax residency.
6. It isthe provisionforthe investortoupdate the informationbothonline aswell asoffline. If the
investorhasinvestedinmore than one mutual fund, then he or she will be required to update
the information online. For the latter he will be required to visit the respective fund houses.

2. 7. There isalso availability of formsforthe same,whichcan download andsubmitted on the Point
of services as well as the nearest office of the mutual fund house.
8. If the investorfindsit more feasible he can definitely submit the information by updating it in
the respective registrar of the fund houses.
9. There is also the provision of submitting the signed form at the KAVY or CAMS office.
10. It is important for the investor to submit the information to both the registrar, if they are
starting a new investment in a mutual fund, which is utilizing the services of more than one
registrar.
More info@ http://goo.gl/NsUa8U