I think all the AMCs / RTAs should dig out from their data & intimate the individual investors as well the IFAs / Distributors & ensure that maximum compliance is made within the due date.

All investors have stated their residence information at the time of making the investment. In the absence of any other information, it should be presumed that thie information provided by the investor is accurate. The CBDT or RBI have not applied the same rules to Bank accounts. Now with unified KYC being implemented, the RTAs should be tasked with matching the bank kyc with the MF KYC and block / freeze / redeem only the folios which are then not KYC compliant. This should alleviate the problem to some extent.

This is almost impossible to submit FATCA declaration before 31st of August. I am from the rural area and most of my clients are above 40 and dont use internet. During this rainy season it is very difficult to travel to their places. Some are NRIs, work in Gulf countries as construction workers, domestic servants and other low grade jobs and come to India once in two years. I kindly request SEBI and other authorities please extend this deadline up to one year. Or at least dont close their folios and let their SIPs to run uninterruptedly.

I am unable to understand why FATCA has to be given separately to all the registrars?? Inspite of FATCS gieven to Registrars many AMC are still not recognising the same in individual FOLIOs and same VICE VERCE .. which is very disgusting.. Secondly when KYC and FATCA taken by the BANKS and other financial institutions start sharing the data, will this fig of FATCA non compliant folios come down ?? There should be common ground some where..

The Folio may be frozed up, but what crime those earlier investor had done while investing in Mf when this requirement was not essential.