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Do I need to undergo the FATCA compliance with all fund houses individually?

Here's what you need to know about the FATCA compliance mail you might have got

Like the KYC compliance, if we undergo the FATCA compliance with one mutual fund house, does it apply for all fund houses or do we have to do it individually for all?
- Ashish, Gurugram

Transcript: Yes, it is a one time procedure. If you do FATCA declaration with one mutual fund house, it is applicable for all mutual fund houses.

Under the Income Tax Rules, the financial institutions had to get self-certification from account holders by 30 April of all individual and entity accounts opened between 1 July 2014 and 31 August 2015. If self-certification isn't provided till 30 April 2017, the accounts will be blocked. You can check your FATCA status online by entering your PAN number and complete the 'One Time Password' and act on it if not done already. You have to submit a FATCA self-declaration form to the Registrar or any of your mutual fund house. You can also do it online.

If you have an NPS account, you will need to fill and send the FATCA self-declaration form (which has been mailed to you) to Central Recordkeeping Agency of NPS.

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