As per recent amendments to Prevention of Money Laundering Act (PMLA) Rules, 2017, Financial Institutions like Mutual Funds are mandated to obtain Aadhaar Number from their customers and link the same to the respective accounts.To link your mutual fund investment to your Aadhaar, you need not go to each fund house in dividually, or do it with each fund house. Visit the registrars website, feed in your PAN and Aadhaar, which will generate a one time password (OTP) on your mobile. You will get a message e-mail from the registrar confirming the same.It is mandatory for all the holders in a mutual fund to link their Aadhaar. Hence the process has to be done for all holders.The government has directed fund houses to freeze MF folios not linked with Aadhaar post December 31, 2017.If you are holding mutual fund units in demat form, you need to approach your depository participant and link your Aadhaar to link your demat account. In this case you do not have to approach the registrars or fund house.

Source: Economic Times November 09, 2017 03:35 UTC