By March 31, 2022, investors must link their Aadhaar to their PAN. If the PAN card is not connected to it by March 31, 2022, it will become ineffective. According to a 2017 amendment issued by the government, investors must link their Aadhaar with their PAN by March 31, 2022.
If the PAN card is not connected to Aadhaar by March 31, 2022, As a result, the KYC status is null and invalid. In a press release, Quantum Mutual Funds noted, “It’s not just investors’ mutual fund investments that would be halted, but if you fail to connect both, most of your investment-related actions will be halted.”
“It will be illegal to make new investments or redeem existing ones. Previous and continuing systematic investment plans (SIPs) will be terminated as well.”
To invest in mutual funds, you must have a valid PAN. Due to the lack of Aadhaar connectivity, investors would be unable to invest in mutual funds if their PAN becomes invalid. According to Quantum Mutual Funds, one can follow the below steps to link PAN with Aadhaar.
Investors can do so by:
1. Clicking on this link – Link Aadhaar, OR
2. Simply send an SMS from your registered mobile number to 567678 or 56161.
SMS format: <12-digit Aadhaar number> and <10-digit PAN>.
For example, UIDPAN 123456789012 ABCDE1234F
Published by – Kiruthiga K
Edited by – Kritika Kashyap
