If you want to make any investments today, you better have two things in place. One is a Permanent Account Number (PAN) and second is Know You Customer (KYC).
Getting your KYC norms in place is not rocket science. But, after the application is made, at times you could be left hanging and waiting to know the status of your application. How should you check that? We will tell you later on. But first, for the first time KYC applicant here’s how you can get it done.
First, you will need the KYC application form, which you can get from your financial agent or broker. You could download the form from a mutual fund’s website or simply Google.
Once you fill in the physical form and attach the required documents like photo copies of PAN as identity proof, address proof like photocopy of passport and the like, you can either pass on this to your agent who will take it to the designated Point of Sale or take it to the Point of Sale (PoS) yourself.
Once you have submitted the form, you have no choice but to wait to hear from the authorities. But you can also check your KYC status online.
Simply visit Central Depository Service (India) Ltd website (here) and type in your PAN number. If the status is verified it shows as MF-Verified by CVLMF. You can take a print out of the page. In case it’s not verified, it shows as status pending; here you have no option but to wait.
Keep in mind, that if there has been any change in your address due to relocation, you will need to do the KYC norms again with the updated details. For that, you will have fill a separate form called KYC details changed form, which is also available on the CDSL website.