Saturday, November 28, 2015

FATCA - Online Self Certification Facility offered by Registrars - links with my comments


 With effect from November 1, 2015 all investors will have to mandatorily provide  information and declarations pertaining to FATCA for all new accounts opened. For pre - existing accounts AMCs are reaching out to investors to seek the requisite information/declaration which has to be submitted by the investors before specified timelines.


For investor convenience, Registrars have allowed investors to submit the same through online mode for updates across Funds, serviced by them.

A look at the physical forms sent by Mutual Funds, shows that the data needs to be updated for ALL holders of the folio and links to sample forms are here MotilalOswal MF and Quantum MutualFund

I tried the online links and please make use of these and see my comments

Franklin Templeton Mutual Fund

The online updation link is here . Franklin handles its own RTA activity.

For FT, you need to know your folio number, input the same and go along till you submit. For Franklin Templeton, I was able to update the information for all holders. The PAN of the second holder was recognized and I could update the same.

CAMS

CAMS has provided the facility to update the information once and the same will be done across all Funds for which it is the RTA. The link can be accessed from here .

If an investor is only second holder in folios of CAMS Funds (and not the first holder in any scheme), the PAN is not recognized in the option - "I am an existing investor in CAMS"  I have mailed the Registrar a couple of weeks back and I hope this is fixed quickly. Else, second holders would have to use the physical form.

Karvy – the easiest and the best among all

The link for Karvy's Funds is here . Karvy has given us the additional facility to view and edit earlier submissions which is not there for the above two Registrars. I used this to view the earlier submission. 

This is the simplest link and the easiest one to fill in and kudos to the team for keeping it simple. If you are only a second holder in any of Karvy’s Funds, your PAN is recognized and you can very easily complete the process.

Sundaram BNP Paribas Fund Services

There is no online link at this website to update FATCA details for investors of the 2 funds for which they are the RTA – BNP Paribas MF and Sundaram MF

MF Utility CAN

If you have a CAN from MF Utility, you can update the FATCA declaration online here at one place for the 25 Funds which are participating in MFU. I have not tried this facility since I do not  have a CAN. Please try this and comment - I will add the comments





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