Link Aadhar with Mutual Funds & Stocks

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Most of you may have completed linking your PAN with Aadhar on the Income Tax portal by July 31st, 2017. Some of you may still be in the process of linking Aadhar with your various bank accounts by December 31st, 2017. There are a couple of more "Aadhar linkings" that you may have to complete with respect to financial market accounts as well.

Linking Aadhar with Mutual Funds

As per the recent amendments to the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, all mutual fund account holders are required to link their folios with Aadhaar numbers by 31st December 2017, failing which the said account/folio will cease to be operational.

A simple way to accomplish this is by linking at the registrars and transfer agents (RTA) of mutual funds like CAMS, Karvy, Franklin Templeton Investments, and Sundaram BNP Paribas. You may also get your Mutual Fund Distributor - MFD's help to complete the same.

https://www.karvymfs.com/karvy/Aadhaarlinking_individual.aspx
https://www.camsonline.com/InvestorServices/COL_Aadhar.aspx
https://accounts.franklintempletonindia.com/guest/#/customerservices/updateaadhaar
https://www.sundarambnpparibasfs.in/web/service/aadhaar

Karvy supports 15 mutual fund houses including UTI, Mirae, Quantum & Axis, while CAMS supports 18 fund houses including Aditya Birla, HDFC, ICICI & Kotak. Franklin Templeton & Sundaram have their own RTA, so depending on which funds you own, you may have to use one or more of the above online facilities. You may need to enter your PAN number & OTP (One-Time-Pin) sent to your registered mobile number to complete the simple folio-aadhar linking process.

Linking Aadhar with Stock Trading accounts

Securities and Exchange Board of India (SEBI), the market regulator has asked the stock exchanges to get their clients to furnish Aadhaar card details by December 31, 2017 as well. So, all domestic demat / stock trading accounts need to be linked with Aadhar. This can be done through:
  • Netbanking - if your demat account was opened via your bank
  • Depository Participant (DP) - if you opened your demat account via a brokerage firm
While most DPs offer an online facility to do the linking, some DPs might require you to visit their branch(s) in person to complete the Aadhar linking process. In case of joint holding, Aadhar numbers of all holders need to be updated for both mutual funds and demat accouts. Whatever be the account type & mode of holding, consult with your financial planner to successfully complete the linking process for all your folios, so that your SIPs/STPs may continue uninterrupted from Jan 1, 2018.


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