Please clarify the FATCA impact on US NRI community with different scenarios. For example, If I have started a Systematic Investment Plan (SIP) in a mutual fund scheme as a resident Indian, should I stop the SIP or if I complete the new FATCA, additional KYC forms, can I continue with my investment. Many of us have this confusion and AMC s are not responding clearly on this.
- Chandrasekkar
Most mutual funds do not entertain investors based in US and Canada. And it is not going to change with the new FATCA and KYC update. It is not the law that is the problem. The problem is the compliance requirements. That is why funds refuse to entertain investors from these countries. If you have investments in mutual funds, you don't have any other option but to sell your investments.
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