PAN is now mandatory for transacting in Mutual Funds

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PAN is now mandatory for transacting in Mutual Funds
Dear Investor,

This is to update you on the requirements of Prevention of Money Laundering Act, 2002 and the subsequent notifications dated 27 April, 2007 and 25 June, 2007 issued by SEBI which made Permanent Account Number (PAN) as the sole identification number for all participants transacting in the securities market (which includes Mutual Funds) with effect from 2 July, 2007.

To ensure compliance with the requirements mandated by SEBI, it is now mandatory for all investors (including NRIs) to submit a copy of the PAN card while making a new / additional purchase transactions (including SIPs) of any amount. In absence of the above, such transactions will be liable for rejection by the mutual fund with effect from Jan 01, 2008.

Applicability of the new guidelines:

Only PAN card copy is accepted as PAN proof, effective January 1, 2008. No document would be accepted in lieu of the PAN. Thus form 49A / 60 or evidence of PAN other than a PAN card will not be accepted..


Submission of PAN card copy is mandatory for all existing as well as prospective investors (including joint applicants / holders, guardians and NRIs) for investing with Mutual Funds from January 1, 2008..


Existing investors who had earlier provided Form 49A or copy of application for issue of duplicate PAN card must submit a copy of their PAN card to us immediately, to continue transacting with us.

Verification of PAN Proof:

Investors are required to submit a copy of their PAN card. Please note that the PAN copy needs to be attested by any of the following :-.

 a.  At the Mutual Fund office (verification with original to be done by the
  person accepting the documents)
Your Financial Advisor
Your Bank Manager
Gazetted Officer
Notarized Copy
Judicial Authority

As mandated by the regulation, PAN details need to be verified from the Income Tax database by our Registrars.


Incase of existing investors in ICICI Prudential Mutual Fund, where PAN proof is available, verification will be carried out from the Income Tax Database.


Incase of mismatch between the details provided and Income Tax database, Investors will be notified about the difference and the investor's folio would be locked for additional purchases and future SIP registrations.


We request you to comply with the above mentioned mandated requirements to allow uninterrupted transactions. In case of any assistance required please call us at 1800222273 or visit your nearest ICICI Prudential Mutual Fund branch office.

Statutory Details: ICICI Prudential Mutual Fund (the Fund) was set up as a Trust sponsored by Prudential plc (through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) and ICICI Bank Ltd. ICICI Prudential Trust Limited (the Trust Company), a company incorporated under the Companies Act, 1956, is the Trustee to the Fund. ICICI Prudential Asset Management Company Ltd (the AMC) a company incorporated under the Companies Act, 1956, is the Investment Manager to the Fund. ICICI Bank Ltd and Prudential Plc (acting through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) are the promoters of the AMC and the Trustee Company. Risk Factors: Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Schemes will be achieved. As with any securities investment, the NAV of the Units issued under the Schemes can go up or down, depending on the factors and forces affecting the capital markets. Past performance of the Sponsors, AMC/Fund does not indicate the future performance of the Schemes of the Fund. The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes beyond the contribution of an amount of Rs.22.2 lacs, collectively made by them towards setting up the Fund and such other accretions and additions to the corpus set up by the Sponsors. Mutual Fund Investments are subject to market risks. Please read the Offer Documents carefully before investing.


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