Under the PMLA (Prevention of Money Laundering Second Amendment) Rules of 2017, all the Mutual Fund and asset management companies must record the Aadhaar number information from the fundholders and then review the information with UIDAI. After successful verification, they have to link all the Mutual Fund accounts with their respective Aadhaar.
This process of linking Aadhaar to Mutual Funds can be completed via four modes. The linking mode can be selected by the fundholder as per personal convenience.
Online
Offline
SMS
All the Mutual Fund holders including the primary holder, joint holder, guardian holders for minors, POA(Power of Attorney) holders, or the children’s schemes donors. All the above-mentioned should have their Aadhaar linked with Mutual Funds.
Residents from the state of Jammu & Kashmir, Meghalaya, and Assam are exempted from linking Aadhaar with Mutual Funds.
All signatories of firms, cooperative societies, and companies must submit their Aadhaar card information.
For investments initiated by HUFs, the Karta of the HUF has to submit all the Aadhaar card details.
Below are the steps Link your Aadhaar with Mutual Funds Online through Mutual Fund Registrars
The offline method through which you can link your Aadhaar with the Mutual Funds without any hassle is by visiting your fund manager's office.
The steps to link Aadhaar with Mutual Funds offline are -
You can easily link your Aadhaar card to Mutual Funds online via the CAMS portal. Separate links are available for all categories like individuals, non-individuals, and HUFs.
Follow the following steps -
If the registrar of your Mutual Funds is Karvy, then follow these steps -
Note - Make sure that your mobile number is already linked with your Aadhaar card before you start the process to avoid any hassle.
If your Mutual fund registrar is Franklin Templeton, you can use the FT website to link Aadhaar with the Mutual Funds linking process. You can not use any other website other than the FT portal to complete the linking process. Follow these simple steps -
Karvy is one of the oldest Mutual Fund registrars which provides services to almost 90 fund houses. Here is a list of some fund houses associated with Karvy and CAMS.
CAMS |
KARVY |
L&T Mutual Fund |
LIC Mutual Fund |
HDFC Mutual Fund |
Canara Robeco |
ICICI Prudential Mutual Fund |
Axis Mutual Fund |
DSPBR Mutual Fund |
Reliance MIF |
HSBC Mutual Fund |
DHFL Pramerica Mutual Fund |
IIFL Mutual Fund |
Motilal Oswal Mutual Fund |
IDFC Mutual Fund |
Peerless Mutual Fund |
PPFAS Mutual Fund |
Baroda Pioneer Mutual Fund |
Birla Sunlife Mutual Fund |
BOI AXA Mutual Fund |
SBI Mutual Fund |
IDBI Mutual Fund |
Tata Mutual Fund |
Taurus Mutual Fund |
Kotak Mutual Fund |
INVESCO Mutual Fund |
Mahindra Mutual Fund |
Mirae Asset Mutual Fund |
Shriram Mutual Fund |
Principal Mutual Fund |
Union Mutual Fund |
Quantum Mutual Fund |
|
UTI MF |
|
JM Financial Mutual Fund |
If you are a new investor or if you have an investment in not more than one fund house, you can complete the linking process even after investing. Here is the step-by-step easy procedure of linking the Aadhaar card with Mutual Funds accounts by registering with the Mutual Fund houses -
The steps for using the SMS method to link Aadhaar cards with Mutual Funds are -
Note - One can take benefit of this feature only if the mobile number is linked with the Mutual Fund.
To ensure compliance with the government’s rules and to avoid misuse of funds, all mutual fund holders are required to provide their Aadhaar Card number and get it linked to their fund account. Through this article, you will now be well aware of the steps to be taken to complete this activity online or offline.
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You can easily link your Aadhaar card with your Mutual Fund accounts using either the offline or online modes. For online methods, you just have to visit the concerned Mutual Fund registrar's website and enter the required details. For offline mode, you will have to visit the nearest service centre of the registrar and then submit the filled application form along with the required documents.
To invest in Mutual Funds, it is essential to have a valid PAN card. In case your PAN turns invalid as it is not linked with Aadhaar, you will not be able to invest in funds anymore.
As per the PMLA Rules of 2017, all investors must link their Aadhaar with their Mutual Fund accounts. If an individual does not follow the rule, his/her folio will become non-operational.
Yes, the Aadhaar card and Mutual Fund account linking process can be done offline via a Mutual Fund distributor.
No, Aadhaar and Mutual Fund account linking are not applicable for NRIs as they may not have Aadhaar cards. In the case of HUFs and non-individuals, the Karta and all the signatories have to submit their Aadhaar card details to complete the linking process.