Submission of PAN & completion of KYC formalities

This is to inform you about certain important formalities that you as an investor need to comply with in order to continue investing in your mutual fund account with us.

Submission of PAN Mandatory

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As per the Securities and Exchange Board of India (SEBI) circular dated April 27, 2007, with effect from July 02, 2007, Permanent Account Number (PAN) issued by the Income Tax Authorities has been made the sole identification number for all participants transacting in the securities market including mutual funds, irrespective of the amount of transaction.

SEBI has further clarified vide letter dated June 25, 2007, that existing and potential investors, who do not have PAN should apply for PAN immediately and applications for investment should be accompanied with the evidence of having applied for PAN until December 31, 2007.

This means that submission of PAN card copy (along with original for verification which will be returned across the counter) is mandatory for all existing as well as prospective investors (including joint applicants / holders, guardians and NRIs) for investing with mutual funds from this date.

Thus, with effect from July 02, 2007 until December 31, 2007:

• All fresh investment applications (irrespective of the amount) have to be enclosed with a certified copy of the PAN card
  The certification can be done by any of the following:
  • The distributor/broker through whom transaction is done or
  • The offices of Canbank Mutual Fund or
  • Investor Service Centers of our Registrar & Transfer Agents or
  • Bank Manager or
  • Notary
  Please note that the original PAN card should be furnished to any of the above for certification.
• Investment applications without a certified copy of PAN should enclose:
  • For amount less than Rs. 50,000 - A copy of the evidence of having applied for PAN (acknowledged copy of Form 49A) until PAN is received.
  • For amount Rs. 50,000 or more - A copy of the evidence of having applied for PAN (acknowledged copy of Form 49A) and a completed Form 60/Form 61 along with address proof, until PAN is received

As soon as you receive your PAN, kindly register your PAN with us by providing your PAN card copy (along with the original for verification which will be returned across the counter).

Applications which do not comply with any of the above requirements are liable to be rejected w.e.f.02.07.2007.

Further, with effect from January 01, 2008, submitting a copy of the evidence of having applied for PAN / Form 60 / Form 61 will not be valid and it will be mandatory for all investors to provide a certified copy (as aforesaid) of the PAN card for all investments in the schemes of Canbank Mutual Fund.

All investors including guardians and power of attorney holders need to complete 'Know Your Customer' (KYC) formalities by completing a KYC application form along with photograph, PAN card and Proof of Address for individuals, or Corporate Documents for bodies corporate, in accordance with the Prevention of Money-Laundering Act, 2002 (PMLA), Rules issued thereunder and the guidelines / circulars issued by SEBI thereto. We request you to complete the said formalities at the earliest.

We have tied up with M/s CVL (CDSL Ventures Ltd) to increase reach and convenience for our investors. Applications for KYC along with PAN may be submitted at any "Point of Service" of CVL. All documents must be submitted in original along with a self-attested copy. The original will be returned across the counter after verification. Investors may also submit notarized copies of the requisite documents.

You will receive an acknowledgement which needs to be submitted to us along with a list of your folios numbers, as evidence of having completed these 2 important regulatory requirements.

As a majority of Mutual Funds have tied up with CVL, you only need to complete these formalities ONCE across all such participating Mutual Funds.

If you have previously completed your KYC formalities via CVL, please submit a copy of your KYC acknowledgement to us along with a list of your folio numbers for verification and update.

All investments in Canbank Mutual Fund need to comply with the PAN and KYC requirements as noted above.

KYC Requirements

Investors need to complete the 'Know Your Customer' (KYC) formalities by providing their proof of identity, proof of address and certain other information, in accordance with the Prevention of Money-Laundering Act, 2002 (PMLA), Rules issued there under and related guidelines / circulars issued by SEBI. As a reminder, KYC formalities must be completed for all Unit Holders, including Guardians and Power of Attorney holders, for any investment (whether new or additional purchase) of Rs.50,000 or more. You are requested to complete the said formalities at the earliest.

KYC Formalities – The process

For investor's convenience, a majority of mutual funds in India have appointed CDSL Ventures Ltd (CVL) as their agents to complete PAN verification and KYC formalities on their behalf. Investors need to submit their details only once for completion of formalities across all these mutual funds.

Please note that PAN is mandatory for completing KYC formalities with CVL. You are requested to carry your original PAN card or an attested copy (in original) of your PAN card to the Point-of-service for verification.

Investors will need to submit the following at the designated 'Point of Service (POS)' Centres of CVL for one-time completion of PAN and KYC formalities.

• Completed KYC application form:
  • Individual
  • Non Individual
• Recent passport-size photograph to be affixed on the form
• Copy of PAN card
• Prescribed documents for proof of address / constitution

Please note that the above documents need to be in the form of either:

• A self attested copy along with originals (originals will be returned across the counter after verification) or;
• A copy attested (in original) by a notary public / gazetted officer / manager of scheduled commercial bank (designation seal to be affixed).

Investors will be issued a KYC acknowledgement letter across the counter by the POS official after verifying the KYC documents. CVL will take 10 days to process the KYC application form. Therefore, the KYC acknowledgement letter will be valid only after 10 days from the date of acknowledgement.

Please do not use the KYC acknowledgement letter before 10 days from the date of acknowledgement.

This acknowledgement can be submitted to majority of mutual funds along with the fresh investment application form / additional purchase request or along with a covering letter containing your folio numbers for updation of PAN / KYC compliance.

Those of you have Completed KYC process with CVL and have been issued a KYC (erstwhile MIN) acknowledgement letter may kindly submit a copy of the KYC (erstwhile "MIN") acknowledgement letter along with the fresh investment application form / additional purchase request or alongwith a covering letter containing the folio numbers for updation of PAN / KYC compliance.

If, for any reason, the status of KYC registration at CVL is "Incomplete", please resubmit the required documents to your nearest Point-of-Service (POS) and obtain a fresh KYC acknowledgement letter.