1. Basics of Mutual Fund
You may change your bank account online:
• Update your bank Mandate online, instantly by clicking on
www.camsonline.com (only for folios that fall within the valuation limit of Rs 1.5 lakh)
•
If your folio valuation exceeds Rs 1.5 lakh, use the log-in section of www.unionmf.com
Alternatively, you may submit the physical form to any of our branches or CAMS service centres near you.
To change the bank account details using a physical form, the following documents needs to be submitted:
1. Bank Account Registration Form signed by all the unit holder(s) according to the mode of holding.
2. Proof of existing and new bank mandate – Self attested copy of any one of the following documents (originals should be produced for verification) or wherever the original documents cannot be brought for verification, a copy should be attested by the bank:
Cancelled original cheque of the new bank mandate with first unit holder’s name and
bank account number printed on the face of the cheque.
OR
Bank passbook with current entries not older than 3 months containing the first unit holder’s name and bank account number.
In the absence of originals / copy / bank attested documents of the old and new bank account, the investor will need to visit Union AMC or CAMS branches for an In Person Verification [IPV] along with the original PAN / photo Identification proof and new bank document.
Individuals, HUFs, Sole Proprietor firms can register up to 5 bank accounts and Non-Individuals can register up to 10 bank accounts in a single folio.
The bank account designated as the "default" bank account will receive the redemption and dividend proceeds.
You can only delete your bank account if more than one bank account is registered against the folio.
You must have at least one registered bank account in the folio, as it is mandatory for redemptions and dividend pay-outs.
Email ID or mobile number registered in the folio can be changed by the following modes:
• Online Process
1. Go to Investor Hub –
Update Personal Details
2. Change your email id or phone number using your PAN , folio number & OTP.
Note: Please note that this facility is limited to individual investors. Only one change is allowed at a time and it requires OTP verification at the time of change.
If both, your email ID and your mobile number are not updated in our records and you wish to provide both these details or if your email ID and your mobile number are registered in our records but you wish to update both of them together, then you need to follow the offline process as given below.
• Offline Process
1. Download the request form
2. Fill in the form
3. Submit the duly filled form at any of the Investor Service Centres (ISCs) of Union Mutual Fund or Computer Age Management Services Limited, Registrar and Transfer Agent of the Schemes of Union Mutual Fund.
1. Log in to our portal
2. Select the folio
3. Update nominee/ opt out of nomination by using OTP.
Alternatively, you may submit a duly signed Nomination Form at any of the Investor Service Centres (ISCs) of Union Mutual Fund near you.
Yes. You can change the nominee registered in the folio by following the same process as mentioned in "How can I register / opt out of nomination in my folio?" Once completed, the new nomination will replace the existing nomination in the folio.
You can register upto three nominees. If more than one nominee is registered, the percentage allocation/ share in favour of each of the nominees should be indicated against their name. Such allocation / share should be in whole numbers only, making a total of 100 percent. If no percentage is mentioned, all nominees will get equal weightage.
Only individuals and sole proprietors can register nominations.
Non-individuals, including societies, trusts, body corporates, partnership firms, Karta of Hindu Undivided Family, and holders of Power of Attorney, cannot register nominees.
Also, registering a nominee is not allowed in a folio held on behalf of a minor.
Nominees can be:
• An Individual
• A Minor. Minor(s) can be nominated and in that event, the name and address of the guardian of the minor nominee shall be provided by the unit holder. However, in such cases, the unit holder(s) cannot be the guardian of the nominated minor.
• Central Government, State Government, a local authority; any person designated by virtue of his/her office.
• Religious or charitable trust.
• A non-resident Indian subject to the exchange controls in force from time to time.
Nomination or declaration to opt out of nomination is mandatory.
If you do not want to add any nominee to your folio, you need to submit "Nomination Opt Out Form" to any of our branches or at any Investor Service Centres of CAMS near you.
Applications where neither nomination nor declaration for opting out of nomination is provided, are liable to be rejected.
To update address in the folio, the same has to be first updated in your KYC records. Please submit a KYC Form to any of our branches or CAMS Investor Service Centres near you.
Copies of all required documents must be self-attested and accompanied by originals for verification. If originals cannot be provided, copies should be attested/ verified by authorized entities as per KYC guidelines.
Once the address is updated in the KYC Registration Agency (KRA) records, it will automatically be updated in the folio.
Please send us an email from your registered email ID to investorcare@unionmf.com or call us on 18002002268 or 18005722268 from your registered mobile number.
Please submit “Change of signature/ Name: Request Form” along with the following required documentation at any of our Branches or at any CAMS Investor Service Centres near you.
• KYC – KRA Acknowledgement with New Name
• Self-attested copy of PAN card with the new name/ photo identity proof exempt cases.
• Duly attested copy of Marriage Certificate / Divorce Deed / Gazetted copy of name change.
The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all the holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.
You may submit the “Change of signature/ Name: Request Form” IN PERSON at any of our Branches or at CAMS Investor Service Centres along with:
• A PAN card copy, OR
• Banker's attestation Letter (mandatory in case of PAN exempt cases) & attested photo identity proof.
Bring the original documents for verification.
Multiple folios can be consolidated by submitting a form for consolidation of folios which you can submit at any of our Customer Service Centres of AMC/Registrar nearest to you.
Consolidation can occur only if all of the below-mentioned details are identical in the folios:
• Names of unit holders
• Order of unit holders
• Mode of holdings
• Tax status
• Bank details
• Nomination
Also, please ensure the following tasks are completed before you submit the request to consolidate:
• The form is signed by all unit holders irrespective of the mode of holding
• KYC is registered for all the holders
You can submit the Minor to Majority form at any of our branches or at CAMS Investor Service Centres along with the following documents:
• KYC acknowledgement
• Signature attestation by a guardian
• Original cheque with name and account number pre-printed
Change of Guardian form can be submitted at any of our branches or CAMS Investor Service Centres along with the following documents:
• KYC of the new guardian
• No Objection Letter (NOC) or Consent Letter from an existing guardian or a court order for new guardian
• Relationship proof with the guardian
• Bank attestation of the bank account of the minor where the new guardian is appended
• A notarized copy or attested copy of the Death Certificate of the deceased guardian
Please note, the new guardian must be a natural guardian (i.e., father or mother) or a court appointed legal guardian.
To update your tax status, you need to submit the following documents at any of our Customer Service Centres of AMC/Registrar:
• Non-Financial Transaction Form - Change in Tax Status
• Original cancelled cheque with pre-printed name & account number of the new bank account
Also note that if there is a change of tax status from Individual to NRI, we can update the same only if the new bank mandate is an 'NRO Account' as the investments had originally come from Savings or NRO account.
The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.
Power of Attorney is a written authority to act for another person in specified or all legal or financial matters to act on their behalf. Mutual fund investors can issue a power of attorney to a designated person in order to operate their folios and conduct transactions on their behalf. The POA holder may have only a limited set of powers as defined in the agreement.
Yes, provide the POA must be executed on stamp paper and registered in India.
A notarized copy of POA can be submitted along with the purchase application. Alternatively, you may submit Non -Financial Transaction Form and a notarized copy of the POA.
The documents required for POA registration are:
• KYC acknowledgement of POA holder
• FATCA details
Yes. The investor or POA holder will have to submit a written confirmation to cancel or revoke the POA.
No, the POA can neither make nor modify the nomination registered in the folio.
8. Tax Ready Reckoner
