How to Link Aadhaar with Mutual Fund Investments
Linking Aadhaar with mutual fund investments is voluntary, and investors no longer need to link Aadhaar with PAN to continue investing, as per SEBI's circular dated 14 May 2024. Investors without the PAN-Aadhaar linkage can still transact with their existing intermediary, though their KYC cannot be ported. This page covers the PMLA rules and the fund houses serviced by CAMS.
What happens after Aadhaar is linked to mutual fund investments?
Once the Aadhaar-mutual fund folio is successfully linked, the mutual fund agent will be fully authorised for Aadhaar number seeding. The seeding can be done with all other combination accounts that are held with asset management and financial companies. The agent is also allowed to download or share Aadhaar details with whomever PMLA asks the agent to share details with.
PMLA Rules
- A client has to submit the Aadhaar number only where the client wishes to receive any benefit or subsidy or decides to submit it voluntarily.
- A client who does not submit the Aadhaar number can submit proof of possession of Aadhaar number or any other officially valid document containing the details of identity and address.
- In case a PAN card is not submitted, Form 60 as defined in the Income-tax Rules, 1962 will have to be provided.
- If a client is not allowed to hold an Aadhaar card, the client can submit any other officially valid document along with PAN or Form 60, as required under the Income-tax Rules, 1962.
Clients whose PAN-Aadhaar linkage is not verified can continue to transact with their existing intermediary, subject to a valid PAN, but their KYC is not allowed portability in the securities market.
NRIs who do not have an Aadhaar number are exempted from PAN-Aadhaar linking, provided they update their residential status as Non-Resident on the Income Tax portal.
CAMS Mutual Fund Companies List
The CAMS platform serves as the registrar and transfer agent for 26 mutual fund companies. Below is the list:
Union Mutual Fund |
Tata Mutual Fund |
Shriram Mutual Fund |
SBI Mutual Fund |
PPFAS Mutual Fund |
Mahindra Manulife Mutual Fund |
Kotak Mutual Fund |
360 ONE Mutual Fund |
Bandhan Mutual Fund |
ICICI Prudential Mutual Fund |
HSBC Mutual Fund |
Aditya Birla Sun Life Mutual Fund |
DSP Mutual Fund |
HDFC Mutual Fund |
AlphaGrep Mutual Fund |
Angel One Mutual Fund |
ASK Mutual Fund |
Choice Mutual Fund |
Franklin Templeton Mutual Fund |
Helios Mutual Fund |
Jio BlackRock Mutual Fund |
NAVI Mutual Fund |
Taurus Mutual Fund |
Unifi Mutual Fund |
WhiteOak Capital Mutual Fund |
Zerodha Fund House |
Note: Mutual fund companies that are not in this list are serviced by other registrars, such as KFin Technologies.
Summary
Linking Aadhaar with mutual fund investments is voluntary, and investors no longer need to link Aadhaar with PAN to continue investing, as per SEBI's May 2024 circular. The PMLA rules accept Aadhaar alongside other officially valid documents, with PAN or Form 60. The CAMS Mutual Fund Companies List above shows the fund houses that CAMS services.
Disclaimer
FAQs on Link Aadhaar with Mutual Fund Investments
1.What is linking Aadhaar with mutual fund investments?
Linking Aadhaar with mutual fund investments means seeding an investor's Aadhaar number into mutual fund folios so that it can be authenticated. It was previously required under an amendment to the PMLA rules, but it is now voluntary.
2.Is it mandatory to link Aadhaar with mutual fund investments?
No, linking Aadhaar with mutual fund investments is not mandatory. Under the PMLA rules, a client submits the Aadhaar number only to receive a benefit or subsidy or when choosing to do so voluntarily.
3.Do I need to link Aadhaar with PAN to invest in mutual funds?
No, mutual fund investors no longer need to link Aadhaar with PAN to continue investing, as per SEBI's circular on KYC validation by KRAs. Investors without the PAN-Aadhaar linkage can still transact in mutual funds with their existing intermediary, but their KYC cannot be ported.
4.What is a validated KYC record for Aadhaar and mutual fund investors?
A validated KYC record is one where the KRA has verified the required details with official databases and has also verified the PAN-Aadhaar linkage. Mutual fund investors with a validated record can port their KYC to another intermediary without repeating it.
5.What are the PMLA rules for linking Aadhaar with mutual fund investments?
Under the PMLA rules, a client submits the Aadhaar number, proof of possession of Aadhaar or any other officially valid document, along with PAN or Form 60. The PMLA Rules section of this page lists each requirement.
6.Can I invest in mutual funds without linking Aadhaar?
Yes, an investor can invest in mutual funds without linking Aadhaar because the PMLA rules also accept proof of possession of Aadhaar or another officially valid document, along with PAN or Form 60. The Aadhaar number itself is needed only for a benefit or subsidy or when submitted voluntarily.
7.Do NRIs need to link Aadhaar with mutual fund investments?
NRIs who do not have an Aadhaar number can invest in mutual funds without PAN-Aadhaar linking, provided they update their residential status as Non-Resident on the Income Tax portal. This exemption is not granted automatically.
8.What is CAMS in the context of linking Aadhaar with mutual funds?
CAMS, or Computer Age Management Services, is a registrar and transfer agent that services the mutual fund companies shown in the CAMS Mutual Fund Companies List on this page. Mutual fund companies that are not in that list are serviced by other registrars.
Karishma VP has over a decade of experience in content writing which includes over five years specializing in personal finance. Her career in BankBazaar has given her the opportunity to write on a wide variety of financial products ranging from credit cards and home loans to insurance policies and government schemes. She believes that an understanding of personal finance is an important step to leading an independent, empowered life. This has led to her being passionate about learning more about the BFSI sector and writing about personal finance as clearly, concisely, and accurately as possible to make it accessible to a larger audience through BankBazaar.
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