Does an existing investor with an AMC have to complete the KYC formalities again in case of a new purchase/SIP?

S.Prusty
Fri, 12 Sep 2025 17:30:53 +0000
Mutual Fund FAQs

No. KYC is a one-time requirement. Once an investor’s status is marked as “KYC Validated” it is accepted across all Asset Management Companies (AMCs) and applies to all mutual fund transactions.

What is the relevant KYC status in the KRA record and its impact on transactions?

Your KYC status in the KRA (KYC Registration Agency) records determines whether you can invest or transact in mutual funds:

KYC Validated

Completed using Aadhaar with verified email and mobile.

All transactions—purchases, SIPs, redemptions—are permitted across all AMCs.

No need to repeat KYC for new investments.

KYC Registered

Based on other Officially Valid Documents (OVDs) instead of Aadhaar, but with email and mobile validated.

Transactions in existing mutual funds continue without disruption.

Investments in a new AMC will require re-KYC using Aadhaar or other OVDs.

KYC Under Process

Documents have been submitted to the KRA, but verification and validation are not yet complete

Status is temporary until updated to “Validated,” “Registered,” “On Hold,” or “Rejected.”

No mutual fund transactions can be initiated or continued until processing is complete.

KYC On Hold

Status arises due to incomplete documents, unverifiable details, or unvalidated email/mobile.

All transactions, both new and existing, are blocked until the issue is rectified.

KYC Rejected

If an “On Hold” status is not resolved within 10–15 days, it changes to “Rejected.”

All mutual fund transactions are not allowed.

It takes up to 5 days for the KYC status to be updated.

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