Ques. Whom does it apply to?
All investors, including NRIs, PIOs and Guardians in case of Minors. POA and Lien holders need not submit the documents
Ques. Applicable to which transactions?
All fresh purchases, additional purchases, SIPs registered with effect from 2/7/2007
Ques. Which transactions are not covered?
Redemptions, Switches, STPs, Dividend Payouts, Dividend Reinvestments and SIPs registered prior to 2/7/2007
Ques. Which are the documents to be submitted for applications greater than and equal to Rs.50,000/-?
PAN copy duly attested
If PAN is not available, Form 60 with proof of address along with copy of Form 49A (application for PAN) duly acknowledged.
Ques. Which are the documents to be submitted for applications less than Rs.50,000/-?
PAN copy duly attested
Copy of Form 49A (application for PAN) duly acknowledged
Ques. Who should certify the PAN?
Self certification and
Attestation by Bank Manager/ Notary (clearly mentioning their name and designation, affixing their respective seal/ stamp and sign in original)
Distributor (thru whom the investment is mobilized, affixing the ARN code stamp, clearly mentioning the name of the person attesting the document and signing in original)
AMC/ Registrar (clearly affixing the AMC/ Registrar stamp and sign in original of the employee clearly mentioning his/ her name and/ or employee ID no)
Ques. Can we accept an application, if 1st unitholder has a PAN, joint holders do not have a PAN, and have not even applied for the same?
No, we can't accept that application because as per the new guideline of SEBI, every holder has to submit his/her PAN card while investing irrespective of any amount. For example, Mr. A and Mr. B have applied jointly for investment in one of the mutual fund schemes. In that case, both of them are required to have their Pan card or PAN card acknowledgement as a proof that they have applied for the same
Ques. What if, a client is investing in MF for quite sometime now, since PAN card has been made compulsory now, Will it affect already invested money?
PAN Card has been made mandatory for all fresh mutual fund transactions irrespective of any amount w.e.f. July 02, 2007. However, redemptions or switches can be made without PAN card copy or other documents i.e. Form 49A. Payouts/ Dividend reinvestments and SIPs registered before July 02, 2007 will be processed without a PAN.
Ques. What will be the treatment for mutual funds investment documents after Dec 31, 2007?
All those investors who have applied for their PAN card and submitted the PAN acknowledgement as a proof that they have applied for PAN card, must submit duly attested photocopy of their original PAN card on or before Dec 31, 2007. From Jan 01, 2008 , submitting a copy of the evidence of having applied for PAN/ Form 60/Form 61 will not be valid and it will be mandatory for all the investors to provide a certified copy of the PAN card for all kind of fresh transactions.
Ques. Does the investor have to give copy of PAN along with every fresh investment?
Yes. The investor has to give a copy of PAN with every fresh transaction.
Ques. In case of single applicant with nominee, whether PAN number is required for the nominee?
No. PAN card of nominee is not required.
Ques. Is PAN required for fresh investments even through SIPs?
Yes. A PAN card is required for every fresh purchase of SIP (at the time of first transaction only)