SEBI: Form & norms for furnishing PAN, KYC details & Nomination

Important aspects of the circular.: –

1. This circular will come into force with effect from April 01, 2023

2. Mandatory furnishing of PAN, KYC details, and Nomination by holders of physical securities.

3. The folios wherein any one of the above  cited details as prescribed are not available on or after October 01, 2023, shall be frozen by the RTA.

4. Frozen folios will be reverted to normal status upon receipt of all the details as mentioned above.

5. Folios if continue to remain frozen on /after December 31st 2025 will  be referred to the administrative authority under Baimani transactions Act/prevention of Money Laundering Act 2002.

6. Self-attested copies of documents will be accepted by the RTA for processing service requests.

7. The security holder/claimant may provide the documents/details to the RTAs for various service requests by way of ‘In Person Verification’ (IPV) or Post or electronic mode with e-sign

Action required  by RTA’S 

• RTAs shall disseminate the requirements to be complied with by holders of physical securities of their clients on their websites.
• RTAs shall provide a certificate of compliance from a practicing Company Secretary, within 30 days from April 1st 2023  ,certifying the changes carried out, /systems put in place / new operating procedures implemented  to comply with the provisions of this circular.
• RTAs shall submit a report to SEBI by May 31, 2023, on the steps taken by them towards sensitizing  their security holders regarding mandatory furnishing of PAN, KYC and nomination,

Action required  by Listed Companies

• Listed companies are required to directly inform  its securityholders about folios which are incomplete with regard to details on an annual basis within 6 months from the end of the financial year.
• For the Financial Year 2022-23, intimation shall be sent by the listed companies on or before May 31, 2023.

Annexures to the circular

• The Mandatory furnishing of PAN, KYC details, and Nomination by holders of physical securities – Annexure A
• Mode for providing documents/details by investors for service requests – Annexure B
• The Standardized, simplified, and common norms along with operating guidelines for processing investor service requests – Annexure C
• The Forms for availing various Investor services – Annexure D
• The Documents for Proof of Identity – Annexure E
• The documents for Proof of Address have been attached to Annexure F