Important details for investor’s transactions-Indian Citizen and NRI

We wish to update you on investor information that is mandatorily required with the investment to
avoid transaction rejection before 31st Dec 2023.

Please find below the details:

✅ Income Slab :

Income Declaration is mandatory; we want to highlight that investment applications are submitted with the assumption that the information will be updated from KRA. However, KRAs do not capture this information and hence if income slab values are not available on the investment application form, transactions will be liable for rejection.

✅ Tax Identification Number (TIN) for all NRI Categories :

TIN is mandatory, wherever investor has declared the country of tax residency other than India in FATCA/CRS Declaration.

✅ For all NRI Tax Categories :

Overseas address is mandatory on the application form.

✅ IFSC code:

IFSC code is mandatory for all folios, this also enables to complete the bank account verification and third-party validation through penny drop mechanism.

✅ Nominee Declaration :

Folios where investors have not registered their nomination or no opt out declaration is submitted for nomination on or before Dec 31, 2023, the folios will be frozen for any debits including redemption. With effect from 01 January 2024, for such freezed folios, Redemption, Transactions of already registered Systematic Transfer Plans (STP) / Systematic Withdrawal Plans (SWP) will not be allowed.

To facilitate seamless processing of your transactions, we request you to update on these key details to be provided for all new folios and investments.

Looking forwrad to support you on continued business and partnership.

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By Team WM

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