The main aim of FATCA (Foreign Account Tax Compliance Act) declaration is that all fund houses must collect information whether mutual fund investors pay taxes or have a tax residency in a country other than India.
FATCA declaration is required to be provided by all individual investors, irrespective of whether you are a resident of India or not
Bank account holders, Mutual fund investors and NPS subscribers who are registered on or after July 1, 2014 are mandatorily required to submit FATCA Self–certification.
How to submit FATCA Declaration online in India?
Unfortunately, the FATCA declaration form is not uniform among all mutual fund institutions in India and investors are required to make the declaration separately for respective MF agents. The Association of Mutual Funds in India is working on a uniform procedure to make compliance easier for investors. Currently most of the MF agencies collects some basic information’s like PAN, Address TYPE, Place of Birth, Country of Birth, Nationality, Country of Tax Residency other than India, Whether Politically Exposed Person (PEP) or Not etc.
How to submit FATCA Declaration in CAMS online and offline?
It is very simple to submit your FATCA declarations online.
Any Investor who are invested in the following AMC’s like Birla Sunlife Mutual Fund, DSP Blackrock Mutual fund, HDFC fund, HSBC, ICICI Prudential, IDFC, IIFL, JP Morgan, Kotak, L&T, PPFAS, SBI, Shriram, TATA and Union KBC mutual funds can update/declare their FATCA in CAMS ONLINE.
Existing Investors: Visit the FATCA declaration link
Provide your PAN number with DOB or your PEKRN number (PEKRN is PAN Exempted KYC Reference Number) with DOB and click “GENERATE OTP” to receive ONE TIME PASSWORD on your registered mobile number and email ID. Kindly note that OTP will be generated only to registered Indian mobile numbers.
Once you submit this OTP – A declaration form will be visible on the next screen to fill.
Fill this FATCA declaration form and click on submit.
Once you submit this declaration, you would receive a message that KYC is successfully updated on mobile or by email. This declaration will be updated for all the AMCs serviced by CAMS.
FATCA declaration for New investors to CAMS serviced funds
Visit the same FATCA declaration link but fill the second part of form [screenshot attached below]
Select AMC name serviced by CAMS, provide PAN with DOB or PEKRN with DOB and click generate OTP. You will receive OTP (One Time Password) on the registered mobile number and registered email ID.
Fill mandatory information and submit the form.
After submitting the declaration you will receive a message that KYC is successfully updated on mobile or by registered email.
How to know your FATCA declaration status?
Visit the same link but go the third part of the form [screenshot attached below] and input your PAN to know your FATCA status.
After submitting your PAN, A form will be visible on bottom of the same page with your FATCA declaration details.
You can also submit physical declaration form, duly signed along with necessary documents to your nearest CAMS office.
If you have any doubts regarding FATCA Declaration, kindly leave as comments below. We would try our level best to address those.