Understanding the CAMS FATCA online & FATCA KARVY

FATCA means Foreign Account Tax Compliance Act is a tax law endorsed by the USA (United States of America) government in 2010 as part of the Hiring Incentive to Restore Employment (HIRE).
The Government of India agreed to implement the FATCA in 31st August 2015.
As per the agreement between India and US, Indian tax officials require to obtain particular detail from US investors.
The GOI (Government of India) made it necessary for all NRI investors from the US to self-declare FATCA compliance via Form 61B, as per Rules 114H,114F of the Income Tax Act, 1962.
In mutual fund as well as any other financial transactions like NPS also you require to submit FATCA declarations with Financial Institutes or Banks.
In this article, I will guide you about CAMS FATCA online as well as FATCA KARVY declaration.

This law requires certain international financial institutions to report details of financial accounts held by US taxpayers to the IRS (Internal Revenue Service).
These institutions are also needed to report instances of tax evasion.
A financial institution is empowered to withhold tax if an individual does not obey with any document requirements.

Eligibility

  • A Citizen/Resident of the United States of America including a green card holder.
  • A partnership, estate, corporation, trust incorporated or created under US law (US incorporated entity).
  • A non-US incorporated entity having shareholding of 10% or more or ownership (Substantial Ownership).

FATCA declarations

CAMS and KARVY are 2 leading registrars and transfer company.
The main objective of these companies is to register and mandate a detail record of investor’s transaction on behalf of the MFH (Mutual Fund House).

CAMS FATCA online

Cams Fatca Online is a way via which an investor declares its investment outside the country.

Eligible Mutual Funds

  • Birla Sun Life Mutual Fund
  • DSP BlackRock Mutual Fund
  • HDFC Mutual Fund
  • HSBC Mutual Fund
  • ICICI Prudential Mutual Fund
  • IDFC Mutual Fund
  • IIFL Mutual Fund
  • JP Morgan Mutual Fund
  • Kotak Mutual Fund
  • L&T Mutual Fund
  • PPFAS Mutual Fund
  • SBI Mutual Fund
  • Shriram Mutual Fund
  • Tata Mutual Fund
  • Union KBC Mutual Fund

In order to do so, one needs to

  • Visit the CAMS website.
  • Provide your PAN, Date of Birth details as shown in the image below.
  • Click on Next button.
  • You will get OTP on the register mobile number.
  • For field country to income tax residency other than India.
  • if you are a resident of India, then Select NO.
  • In a condition, if your selection is YES, fill out the information there.
  • After submission at CAMS request, you get the submission details.

CAMS FATCA offline

Download the below form for print, fill and submit at CAMS branch.

Note: Franklin Templeton option is unavailable.

FATCA KARVY

Karvy Data Management Services (KDMS) is one of leaders in providing business and knowledge process services.
It mostly focuses on the delivery of the business related services through an innovative strategy.
Karvy provides two types of FATCA declaration form for download.
FATCA form for individual and non-individual (to verify regular KYC).
Download the below form for print, fill and submit at KFintech branch.
As of now, Online option is not available for submission of FATCA request.

Eligible Mutual Funds

  1. AXIS Mutual Fund
  2. Baroda Pioneer Mutual Fund
  3. BOI AXA Mutual Fund
  4. Canara Robeco Mutual Fund
  5. Deutsche Mutual Fund
  6. Edelweiss Mutual Fund
  7. Goldman Sachs Mutual Fund
  8. IDBI Mutual Fund
  9. Indiabulls Mutual Fund
  10. JM Financial Mutual Fund
  11. LIC Nomura Mutual Fund
  12. Mirae Asset Mutual Fund
  13. Motilal Oswal Mutual Fund
  14. Peerless Mutual Fund
  15. DHFL Pramerica Mutual Fund
  16. Principal Mutual Fund
  17. Quantum Mutual Fund
  18. Reliance Mutual Fund
  19. Religare Invesco Mutual Fund
  20. Sahara Mutual Fund
  21. Taurus Mutual Fund
  22. UTI Mutual Fund.

KARVY FATCA form for non individual

KARVY FATCA form for Individual

You can send the hard copies of the filled and signed declarations along with PAN Card copy to the below KFintech address:

KFintech, Selenium Building, Tower B.
Unit – FATCA / CRS / UBO / Supplementary KYC.
Plot Nos. 31 & 32 | Financial District |Nanakramguda.
Serilingampally Mandal | Hyderabad – 500032 | India.

KARVY FATCA Check Status

FATCA Declaration for Franklin Templeton Mutual Fund

  • Visit the Franklin Templeton Mutual Fund FATCA Declaration.
  • Enter your folio number and then click on Next.
  • Enter your PAN Number, Bank account details, Date of Birth and click on Next.
  • Post OTP verification, you need to enter Gross annual income,
    Net worth details, Occupation and PEP Status and then click on Next.
  • Verify the information entered and click on Submit to complete.
  • You will get a transaction number for reference.

Source KARVY & CAMS

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