With the deadline to link your Aadhaar to Mutual Funds just around the corner, here’s how you can cross-check if you have linked your Mutual Fund folio to Aadhaar or not.
Recently, the government told the Supreme Court that it might consider extending the March 31 deadline for linking Aadhaar to various government schemes as well as mobile phones and bank accounts. Many might not be aware but investments like Mutual Funds also fall within the scope of this mandate. If you have already linked your Aadhaar to your Mutual Fund folio, here’s how you can check its status.
In order to check if your Aadhaar has been linked to your Mutual Fund or not, you will need to use an R&T Agent’s portal. However, before proceeding any further, you need to understand who your R&T Agent of Fund is.
For instance, CAMS (Computer Age Management Service) which is India’s premier Mutual Fund Transfer Agency provides the R&T services to the below mentioned Mutual Fund companies.
- HDFC Mutual Fund
- DSPBR Mutual Fund
- Birla Sunlife Mutual Fund
- HSBC Mutual Fund
- ICICI Prudential Mutual Fund
- IDFC Mutual Fund
- IIFL Mutual Fund
- Kotak Mutual Fund
- L&T Mutual Fund
- Mahindra Mutual Fund
- PPFAS Mutual Fund
- SBI Mutual Fund
- Shriram Mutual Fund
- Tata Mutual Fund
- Union Mutual Fund
Among other AMCs (Asset Management Companies), Franklin Templeton International Services provides services only to Franklin Templeton Mutual Funds. Sundaram BNP Paribas Fund Services provides services only to Sundaram and BNP Paribas Mutual Funds etc. Karvy provides services to the rest of the AMCs.
Additional reading: 3 Crucial Points To Know About Linking Aadhaar With Mutual Funds
What is an R&T agent?
Registrar or transfer agents include trusts or institutions that register and maintain detailed records of the transactions of investors for the convenience of Mutual Fund houses.
Registrar and transfer agents basically maintain records of investor transactions like buying exchanges, changes in personal data, processing of emails and related information etc. on a professional basis.
This contributes to saving costs and the time involved in keeping detailed and accurate records of investor transactions.
An R&T agent’s role also extends to providing information to the investors about new offers, maturity dates and all other investor-friendly information at one place for their reference. Some of the R&Ts operating in India are Computer Age Management Services (CAMS), Karvy, and Deutsche Investor Services among others.
Additional reading: Lost Your Aadhaar Card? Here’s What You Can Do
Let’s find out how to check your Aadhaar linking status with your Mutual Fund for CAMS and Karvy.
Check status of Aadhaar linked to Mutual Funds for CAMS:
Follow the steps below to check the status of your Aadhaar linked to your Mutual Funds:
- Visit the CAMS Aadhaar Linking Page
- Click on the first tab “Aadhaar Linking Status-Individual”.
- Enter your PAN.
- If your Aadhaar is linked to CAMS serving Mutual Fund companies, then you will see the status as “Aadhaar available for given PAN”.
- If your Aadhaar is not linked to CAMS serving Mutual Fund companies, then you will see the status as “Aadhaar to be provided for the given PAN”.
How to check status of Aadhaar linked to Mutual Funds for Karvy
- Visit the Karvy Aadhaar linking page.
- Click on tab-“Individuals-Click Here”
- A new window will open, where you have to enter your PAN number.
- You will then get an OTP on your registered mobile number and email ID (registered for your Mutual Fund investments).
- If you have already linked Aadhaar to Mutual Funds, then you will get the message-“Aadhaar Seeding Successful”.
Additional reading: Linking Of Aadhaar To EPF: A Step By Step Guide
What happens in the event you do not link Aadhaar to your Mutual Fund folios?
If you fail to link Aadhaar to Mutual Funds, you may face the following situations:
- Purchases (new and additional), redemptions, switches, new registration of SIPs, STP, SWP, DTP, unclaimed dividends/redemptions, lien marking, minor attaining majority and transmission (unless Aadhaar is provided) which are customer-initiated transactions will not be permitted.
- Dividend payments, pre-existing SIPs, SWP, STP, close-ended fund maturity payout, KYC related changes, a non-financial transaction, lien invocation by a financial institution or pledgee or any transaction pursuant to a court or regulatory order shall be permitted (as the same is not initiated by the customer).
It is thus best to link your Aadhaar to your Mutual Fund folios at the earliest. If you’re looking to buy a house or a car in future, Equity Mutual Funds have a record of giving inflation-beating returns. Why not give them a shot?