How to Link Aadhaar with Mutual Funds?

Last Updated : Dec. 30, 2024, 4:14 p.m.

Linking your Aadhaar card with mutual funds is a mandatory process introduced under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. This step ensures compliance with government regulations and enhances the transparency of financial transactions. Whether you prefer the convenience of online methods or the reliability of offline processes, linking your Aadhaar card to your mutual funds is straightforward. By providing your Aadhaar and PAN details, you can seamlessly complete this process and ensure your investments remain compliant with the law.

You can easily get your Aadhaar card linked to your mutual funds. In this article, we will let you know, How to Link an Aadhaar Card with Mutual Funds Online/Offline.

Link Aadhaar with Mutual Funds Online Through CAMS

By using the CAMS website you can link your Aadhaar card to your mutual fund account. However, there are separate links for individuals and non-individuals as well as for HUF that you can use to link your mutual funds with your Aadhaar card. To link your Aadhaar with mutual funds you need to follow the steps given below:

• Visit the CAMS Aadhaar: Linking Portal: Access the official Aadhaar-linking portal of CAMS (Computer Age Management Services).

• Choose Your Investor Type: Select the appropriate option based on your investor category – Individual, HUF, or Non-Individual.

• Enter Your PAN Details: Input your PAN in the provided space and click on the “Submit” button.

• Provide Aadhaar Information: Enter your Aadhaar number, name, date of birth, gender, and registered mobile number.

• Generate OTP: Click on “Generate OTP.” An OTP will be sent to the mobile number registered with your mutual fund.

• Verify OTP and Submit: Enter the OTP, accept the disclaimer by ticking the checkbox, and click on the “Submit” button.

• Completion of Linking: Your request will be submitted. Once verified, all mutual funds associated with your PAN will be automatically linked to your Aadhaar.

Your Aadhaar link request will be submitted and after verification, your mutual funds associated with your PAN will automatically be linked with your Aadhaar card.

Link Aadhaar with Mutual Funds Through KARVY Website

If your mutual funds are registered with Karvy as the registrar, you can link your Aadhaar directly through their website. Follow these steps:

• Visit the official Karvy website.

• Click on the 'Link Your Aadhaar' tab.

• Enter your PAN and click on 'Generate OTP'. Ensure your mobile number is linked to Aadhaar to receive the OTP.

• Your registered email address or mobile number will receive an OTP.

• Select the mutual fund scheme you wish to link and check the consent confirmation box.

• Enter your Aadhaar number in the required field and click 'Submit.'

Once the process is complete, you will receive a confirmation message from Karvy regarding the successful linking of your Aadhaar.

Link Aadhaar with Mutual Fund Through SMS

Another method that you can use to link an Aadhaar card with a mutual fund is through SMS. All it takes is one SMS to link your mutual fund and Aadhaar card. The process for the same is as follows:

• Type a message in this format ADRLNKYour PAN NumberYour AadhaarY

• Send the SMS to +91 9212993399

• The ‘Y’ is the message format that provides your consent to Karvy to authenticate and link your Aadhaar card to a mutual fund.

• You will be notified of the successful linking of your Aadhaar card via a confirmation message.

However, it is important to understand that your mobile number should be linked with your mutual fund to be able to avail of this facility.

Link Aadhaar with Mutual Fund Via Email

Investors can link their mutual funds with their Aadhaar number by sending an email to the respective Asset Management Companies (AMCs). In the email, they need to provide their Aadhaar number and PAN details. After receiving the request, the AMC will conduct the necessary verifications and complete the Aadhaar linking process.

Link Aadhaar with Mutual Fund Through Offline Method

It is possible to get your Aadhaar card linked to a mutual fund via the offline method. Generally, investors who do not have their mobile number or email address linked with the mutual fund, avail of his facility.

Here's how to connect your Aadhaar card to a mutual fund using offline methods:

I - By Visiting the Branch

1. Get an Aadhaar linking form from your fund manager.

2. Fill your Aadhaar card and mutual fund details in the form.

3. A copy of your Aadhaar card that has been self-attested should be attached to the form.

4. Submit the form to your fund manager.

5. You will be notified of the successful linking of your Aadhaar card.

II - Through AMCs

Investors can also visit the offices of the relevant Asset Management Companies (AMCs) to link their Aadhaar with mutual funds offline. To do this, they need to collect the Aadhaar linking form, fill in the required details, and submit it along with a self-attested copy of their Aadhaar card.

The Aadhaar linking process will be completed after successful verification of the submitted details.

Key Points Should be Kept in Mind While Linking Your Aadhaar Card with Mutual Fund

There are a few points that you should remember while linking your Aadhaar card with a mutual fund. Some of those points are as follows:

• It is important for you first to link your mobile number with your Aadhar card to receive OTP and be able to complete OTP-based authentication.

• Additionally, the mutual fund account should be connected to your cellphone number.

• NRI is not eligible for Aadhaar linking.

• The details that you enter in the linking form should match the original information about your Aadhaar card, otherwise, you will not be able to link your Aadhaar card.

• You can link your mutual funds with Aadhaar with the help of your PAN card.

Who Should Link Aadhaar with Mutual Funds?

Individuals who should link their Aadhaar with mutual funds are as follows:

• All mutual fund holders, whether first holders, joint holders, guardians (for children), Power of Attorney (POA) holders, or contributors (Children's schemes), must provide their Aadhaar.

• NRIs are not required to link their mutual funds to Aadhaar because they are not Aadhaar qualified.

• Aadhaar seeding is also not required for residents of Jammu and Kashmir, Assam, and Meghalaya.

• Non-individuals, such as firms, corporations, and so on, must have all allowed signatories provide their Aadhaar data.

• In the event of HUF investments, the karta of the family must produce an Aadhaar card.

Why it is important to link Aadhaar Card with Mutual Funds?

Linking your Aadhaar card with mutual funds is important for several reasons, as mandated by the government and regulatory authorities. Here’s why:

1. Regulatory Compliance

Linking Aadhaar with mutual funds is a requirement under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. It ensures adherence to anti-money laundering regulations and promotes transparency in financial transactions.

2. Preventing Fraud

The Aadhaar linkage minimizes the risk of fraudulent activities by establishing a verified identity for investors, making it difficult for unauthorized individuals to operate or misuse accounts.

3. Streamlining Transactions

Linking Aadhaar with mutual funds simplifies verification processes for future transactions, making them quicker and more efficient. It eliminates the need for repeated KYC submissions, ensuring a hassle-free experience.

4. Consolidation of Records

By linking Aadhaar, all mutual fund investments associated with a single PAN can be consolidated, providing a unified view of investments and easier portfolio management.

5. Government Benefits and Subsidies

If applicable, Aadhaar-linked mutual fund accounts may be eligible for government benefits or subsidies under specific schemes.

6. Ease of Tax Filings

Aadhaar linkage helps in accurate reporting of investments and earnings, simplifying the process of tax filing and ensuring compliance with tax regulations.

In summary, linking Aadhaar cards with mutual funds enhances security, compliance, and convenience, benefiting both investors and regulatory bodies.

Conclusion

By going through this whole article you know about how to Link your Aadhaar Card with mutual funds , which is a simple yet essential step to comply with regulatory requirements and ensure seamless management of your investments. Whether you choose the convenience of online methods through portals like CAMS, the traditional offline approach by visiting AMC offices, or the quick email option, the process is straightforward and efficient. By completing the Aadhaar linking, you not only enhance the security of your investments but also streamline your financial transactions, making them more transparent and hassle-free. Ensure your Aadhaar is linked today to stay compliant and enjoy a seamless investment experience.