Your clients may have three more months to link their Aadhaar details with MF folios.
Government has extended the deadline to link Aadhaar with bank accounts from December 31, 2017 to March 31, 2018.
The CEO of an emerging fund house has told Cafemutual that this extension should logically apply to mutual fund folios.
However, till the time of writing this report there was no explicit instruction from the government regarding extension of Aadhaar linkage deadline to mutual funds.
In a circular, the government has said, “After considering various representations received and inputs received from banks, it has been decided to notify March 31, 2018 or six months from the date of commencement of account based relationship by the client, whichever is later, as the date of submission of the Aadhaar number and Permanent Account Number or Form 60 by the clients to the reporting entity.”
Investors can link their Aadhaar number with mutual fund folios through R&T agents such as CAMS, Karvy, Sundaram BNP Paribas Fund Services and Franklin Templeton.
Here is how you can help your clients to link Aadhaar with MF folios.
- The RTAs have enabled online submission of Aadhaar and PAN details by investors on their websites for collection and authentication of Aadhaar number. You may advise your clients to provide such details at any of the RTA's websites.
- Physical forms is available at all the investor service centres (ISCs) of the AMCs and RTAs.
- Send emails to investors with a weblink to update Aadhaar.
- Investors can send SMS from registered mobile number to link Aadhaar.