faq
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1. Distributor

1. How can I empanel with Union Mutual fund as a distributor?

Individual distributors have the choice to empanel with us through both Online and Offline modes. Non-individual distributors can empanel with us only through offline mode.

Online:
Click on ‘Empanel with us’.

Offline:
Download the Empanelment form - Click here
Fill the Empanelment Form and send it to us or CAMS offices for review along with the supporting documents as prescribed in the form.

2. What is the brokerage structure and how is it paid?

Brokerage is a fee paid to the distributors empanelled for investments mobilized in the Schemes of Union Mutual Fund. Brokerage is calculated as a percentage of the investments mobilized. Only trail brokerage is paid. No upfront brokerage is paid. Brokerage differs from scheme to scheme.

Brokerage payment is made through NEFT/RTGS only. For distributors whose complete bank mandates are NOT available, the bank mandate along with a cancelled cheque or a copy of cheque needs to be submitted for processing the brokerage payment.

The brokerage is paid on a monthly basis which includes eligible trail commission. The payout is done on or before the 10th of the subsequent month.

3. What should I do to ensure that I continuously receive my brokerage for a particular month?

To receive the brokerage amount on a timely basis, please ensure that the following mandatory requirements are fulfilled:

a. ARN Renewal: your ARN is valid for 3 years. Please renew your ARN 6 months before the validity date of your ARN card expires.

b. Declaration of Self -Certification(DSC): Distributor must submit an Annual Declaration of Self Certification within three months of the end of the Financial Year (31st March) i.e. by June 30. (DSC should be dated any day after the financial year end) failing which the payment of all accrued commission is withheld. Further, a grace period of 3 months from June 30 is allowed for submission of DSC. If the DSC is not submitted by September 30, the commission withheld for non-submission shall be forfeited.

DSC Forms are available on the AMFI website - http://www.amfiindia.com/Themes/Theme1/downloads/circulars/cir-arn-17-14-15.pdf. The DSC form may be duly filled, signed and submitted at your nearest Investor Service Centre (ISC) of the AMC/RTA. To know the nearest CAMS Service Centres.

Alternatively,

Online Paperless DSC Submission Process ANNUAL DECLARATION OF SELF CERTIFICATION (DSC) (amfiindia.com)
a. Log onto AMFI website >> Distributors Corner >> online ARN renewal module with existing log-in & password
b. Click on the ‘Update Profile’ button
c. Choose the ‘Self Declaration’ icon
d. Select the mode of DSC submission as ‘OTP’ mode and click the ‘Next’ button.
e. Once the Self-Declaration contents are displayed on the screen, click on the check box against each paragraph and click the ‘Generate OTP’ button at the end of the page.
f. An OTP will be sent to the registered mobile number AND the registered email address by CAMS.
g. Enter BOTH the OTPs sent to your registered email id and the registered mobile number in the relevant boxes and click on the ‘SUBMIT’ button.
On successful submission of the correct OTP, the distributor will see the message “Annual Self-Declaration Form SUBMITTED successfully” on the screen, indicating that the DSC has been submitted successfully.

4. What are the GST details of Union Mutual fund & Union Asset Management Company Pvt. Ltd?

Below is the GST of Union Mutual Fund:
27AAATU4275B2ZJ

5. If the application for investments mobilized by you is reported without your EUIN, then what are the timelines within which the same can be rectified?

In case the investor forgets to mention your EUIN on the application form, the ARN has to get the same remediated within 30 days from the transaction date to receive the eligible commission.

6. As a distributor, how can I update my bank mandate?

Please fill in the Bank Mandate Form and submit it along with a cancelled cheque to the nearest ISC of the AMC/RTA.

7. In the case of an Individual status ARN, how do I update the nominee?

Please fill in the Form and submit it to the nearest ISC of the AMC/RTA.

8. What is the process to change the address, email id and contact details?

The request for change of address, email id and contact details need to be duly filled, signed and submitted at your nearest ISC of the AMC/ RTA. To know the nearest Service Center please Click

1. Basics of Mutual Fund

2. Know Your Customer

1. What is KYC?

KYC is an acronym for 'Know Your Customer'. KYC is commonly used to describe the 'Client Identification' process and it is a one-time requirement applicable for all unit holders, including guardians and Power of Attorney holders.

Certain requirements are prescribed under the Prevention of Money Laundering Act, 2002 as amended from time to time for Financial Institutions and Financial Intermediaries including Mutual Funds to 'know' their customers. The KYC process helps prevent money laundering and other suspicious transactions.

For units pledged in favour of scheduled banks, financial institutions (FI), non-banking finance companies (NBFCs) or any other body corporate for raising loans, the pledgee shall also be required to be KYC compliant, in addition to the pledgor.

For transmission (In case of death of the unit holder): If the deceased is the sole applicant, the claimant should submit his/her KYC acknowledgement along with the other relevant documents to effect the transmission in his/her favour.

CKYC refers to Centralized KYC (Know Your Customer). The main objective is to have a single platform which facilitates investors to complete their KYC only once before interacting with various entities across the financial services sector.

2. How can I get KYC complied?

If you are an Individual Investor, you can complete your KYC process online through our website click here (eKYC).

Alternatively, you may submit the physical form to any of our branches or CAMS Investor Service Centres near you.

3. What documents are required to be KYC compliant?

A detailed note on the documentation is mentioned in the application form.

Individuals refer here (KYC Individual form)
Non-Individuals refer here. (KYC Non- Individual form)
Copies of all documents & In-Person Verification (IPV) shall be attested by an authorized official of the Mutual Fund or its Registrar & Transfer Agent, your distributor or a manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy). All documents need to be self-attested by the applicant.

4. How to check KYC Status online?

You can check your KYC status online at the websites given below by entering the PAN:
www.camskra.com

5. KYC is applicable for which type of transactions?

KYC is mandatory for all types of transactions

• New / Additional Purchases
• Redemption
• Switch Transactions
• Systematic Investment Plan (SIP)/MICRO SIP Registrations
• Systematic Transfer Plan (STP) Registrations
• Systematic Withdrawal Plan
• Transfer of Income Distribution cum Capital Withdrawal Plan Registrations

6. How does an investor transact in Mutual Funds after completing the KYC process?

Investors must attach their KYC acknowledgement along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio. Applications Forms / Transaction Slips not accompanied by KYC acknowledgement are liable to be rejected by the Mutual Fund.

7. Is there a fee I need to pay to be KYC compliant?

At present, KYC is being done free of cost.

8. How does a Non-Resident Indian (NRI) / Person of Indian Origin (PIO) get KYC compliant?

For NRI/ PIO investors, a self-attested True copy of the passport, certified true copy of the overseas address and permanent address along with In-Person Verification (IPV) is required along with the KYC application form. These documents can be attested by authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Notary Public, Court Magistrate, Judge, Indian Embassy/ Consulate General in the country where the investor resides.

The person permitted to attest documents can also conduct the In-Person Verification and confirm this on the KYC form.

The requirements applicable to an NRI will also apply to a PIO. However, additionally, the PIO is also required to submit a certified true copy of the PIO card.

The duly filled-in KYC form along with mentioned supporting documents, need to be submitted to any of our branches, your Distributor or CAMS Investor Service Centres near you.

9. How can investment be made in the name of a minor?

In case of investments made in the name of a minor, the parent/ legal guardian should be KYC compliant and attach their KYC acknowledgement while investing in the name of the minor. The minor, upon attaining majority, should immediately be KYC compliant and intimate the concerned Mutual Fund(s) to be able to transact further in his/her own capacity.

10. How to change or update tax status/ address / contact details in KYC?

Intimate change of Name/Address/Contact Details/Status/Signature etc. to the Point of Service (POS) of the KRA or the AMC’s office.

Individuals can submit a KYC form along with the required documents.
Non-Individuals need to submit a fresh KYC form along with the required documents.

11. How to invest in Mutual Funds if PAN is not issued?

A PAN exempted KYC (PEKRN) would be needed to invest in Mutual Funds. An identity proof in lieu of PAN needs to be provided. (Refer to the application form for the list of documents). Individuals, Minors, Sole Proprietors, Joint Holders and NRIs (excluding PIOs & U.S. Persons and Residents of Canada) can invest with a PAN exempt KYC.

The total investment (including fresh purchase, additional purchase, switches and SIP instalments) in a rolling 12 months period or financial year i.e., April to March, should not exceed Rs. 50,000 for a PAN exempt KYC.

12. I am KYC complied. How can I update my KYC status in folio/s with Union Mutual Fund?

You can send an email from your registered email ID to investorcare@unionmf.com or call us on 022-6748 3333 from your registered mobile number to update your KYC Status.

3. Financial Transactions

Purchase

1.How can I purchase units of Union Mutual Fund?

You must complete the "Know Your Customer" (KYC) verification before investing in mutual funds.

Please click here to check if you are compliant with KYC regulations. If you have not completed the KYC process, you can do the same online through our website click here.

Once you have completed your KYC verification, you may invest by visiting www.unionmf.com

Alternatively, you may submit the physical form to any of our branches or CAMS service centres near you.

2.Who can transact online?

• Adult Resident Indian Individuals with folios under individual name or joint name (not exceeding three).

• Non - Resident Indians and Persons of Indian Origin residing abroad, on a non-repatriable/full repatriation basis, excluding investors residing in the US, Canada and non-compliant FATF Countries.

• Parents / Lawful guardians on behalf of Minors

Please Note: Only investors who are KYC compliant as per the latest KYC norms can invest.

3.What payment modes can I use to purchase a Union Mutual Fund scheme?

• eNACH (NACH = National Automated Clearing House)
• Cheque: Cheque should be drawn in favour of the scheme
• Funds Transfer or RTGS/NEFT: Our bank details will be shared on request
• UPI (UPI = Unified Payments Interface)
• One Time Mandate

4.My account was debited while making an online purchase, but the transaction failed. What should I do?

This usually happens because of a payment failure at your bank’s end or, sometimes, due to poor internet connectivity.

Rest assured, if your bank account has been debited, we will definitely allot you the units after receiving a confirmation from your bank.

If your units are not allotted within 2-3 days, please email us at investorcare@unionmf.com or call us on the Toll-Free number: 18002002268 or 18005722268 (Monday to Friday - 9:00 am to 6:00 pm, Saturday - 9:00 am to 1:00 pm)

Redemption

1. How can I redeem my units with Union Mutual Fund?

You may redeem your units online.(Click Here)

Alternatively, you may submit a duly filled and signed Transaction Form to any of our UNIONMF branch or at any CAMS Investor Service Centres near you.

2. Once I redeem, how soon will the redemption proceeds be credited to my bank account?

Funds will usually be credited to your registered bank account within 1-3 business days, depending on the scheme you have redeemed from.

• Liquid/Debt schemes: T+1
• Equity & Hybrid Schemes: T+3

'T' here stands for transaction day (So 'T +1' means 1 day after the day you made the transaction). 'Business Day' is a day other than Saturday and Sunday or a day on which the banks in Mumbai or BSE/NSE/RBI are closed.

3. How will I receive my redemption proceeds?

The redemption proceeds are paid directly to your registered bank account through RTGS/NEFT, provided we have complete core banking account details registered in the folio.

4. What can I do if I want to change my bank details along with redemption?

Unfortunately, this is not possible in one single step. As per regulations, a change of bank mandate request and a redemption request cannot be processed together. There has to be a gap of 10 days between these two specific requests. This regulatory gap is for the protection of investors, to reduce fraud and other operational risk.

Instant Access Facility

1.What is an Instant Access Facility?

Instant Access Facility is a facility which allows the investor to place a redemption request in the specified scheme and have the amount credited into the registered bank account using the Immediate Payment Services (IMPS) facility.(Click Here)

2.This facility is available for which schemes?

The Instant Access facility is only available under the Growth Option of Union Liquid Fund (i.e. Union Liquid Fund - Direct Plan - Growth Option and Union Liquid Fund -Growth Option). Investors of this scheme only will be allowed to avail this facility.

3.What are the prerequisites for placing a successful redemption request under the Instant Access Facility?

a) This facility is available only for Resident Indian individuals;
b) The investor should have the complete CBS (Core Banking System) account number registered in the folio along with the IFSC code; and
c) The Investor’s bank should be Immediate Payment Service (IMPS) enabled.
In addition to the above, the investor should not have placed a Change of Bank request in the folio for the past 10 days.

4.From where and when can the request for availing the Instant Access Facility be placed?

A request under Instant Access Facility can be placed through the Link from any place, at any time, as per the investor’s convenience.

5.Can I place a physical request for the Instant Access Facility?

No. A physical request cannot be placed for the Instant Access Facility. This Facility is available only for transactions through online mode.

6.What are the maximum and minimum amounts for which a redemption request under the Instant Access Facility can be made?

The maximum per day redeemable amount would be Rs 50,000 or 90% of the current value of available units with the investor, whichever is lower. The minimum redemption amount is Rs 1000/-, and in multiples of Re. 1/- thereafter.

7.Can I place a redemption request in terms of units?

Under the Instant Access facility, investors can submit redemption request only in terms of amount, and not in terms of units.

8.How would the NAV be applied to these instant redemption requests?

1) If the request is received up to 3.00 pm, the applicable NAV would be the lower of:
a) The NAV of the previous calendar day; and
b) The NAV of the calendar day on which the Instant Redemption request is received.

2) If the request is received after 3.00 pm, the applicable NAV would be the lower of:
a) The NAV of the calendar day on which such application is received, and
b) The NAV of the next calendar day.

9.Are there any charges for using this facility?

No. For using this facility, there are no additional fees or costs.

10.Is the Instant Access Facility available for units held in dematerialized mode?

No, the Instant Access Facility is not available for units held in dematerialized form. It is available only for units held in physical mode.

Switch transactions

1. Can I switch my investment from one Union MF scheme to another Union MF scheme?

Yes, you may switch your units by visiting our website.(Click Here)

Alternatively, you may submit a transaction form to any of our branches or at any CAMS Investor Service Centres near you.

2. Is exit load applicable on switching?

A switch from one scheme to the other is treated as a redemption from the switch-out scheme and a purchase into the switch-in scheme. Therefore, relevant entry or exit loads will apply.
All the information pertaining to the scheme loads is available on the relevant scheme pages on our website.

3. Is exit load applicable while switching from Direct Plan to the Regular Plan or vice versa?

No. There is no exit load applicable for switching from the Direct Plan to the Regular Plan. However, such a switch would be taxable, wherever capital gains tax applies.

4. Systematic Transactions

Systematic Investment Plan

General

1. What is a Systematic Investment Plan (SIP)? Who can invest in an SIP?

A Systematic Investment Plan or an SIP is a facility that allows an investor to invest a particular amount on a regular basis in a disciplined manner. An investor who opts for an SIP facility must submit the required forms either online or offline. Based on the mandate provided by the investor, a particular amount is deducted from the investor's bank account on the set frequency and invested in the scheme selected by the investor.

Any person with a valid KRA-KYC (Know Your Customer) can invest in Mutual Funds. Please click here for detailed information on who can invest in Mutual Funds.

2. What are the benefits of investing through an SIP?

SIP offers many benefits. A few of them are:-
a) Regular and disciplined investment approach
b) Rupee cost averaging
c) Fund manager's professional experience and expertise.

3. Which is the best fund to invest in through an SIP?

There is no particular Scheme that will suit all types of investors. The selection of the scheme would depend on your risk profile, investment goals and the set time horizon to meet your investment goals.

4. What are the various modes through which I can invest in an SIP?

Investment in an SIP can be made through both online and offline modes.
For Offline mode (NACH/One-time Mandate (OTM)/Debit Mandate), the investor is required to submit the following documents: -

For New Investors:
1. Common application form (SIP OTM / NACH/ Debit Mandate Form)
2. Original cancelled cheque of the same bank where an SIP debit is to be initiated. The cheque should have the name and account number pre-printed on the face.
3. KRA-KYC acknowledgment for the sole holder/ all joint holders, as applicable.

For Existing Investors:
If you are an Existing Investor with a pre-registered OTM, then you need not fill the OTM form again. Instead, you just need to fill the SIP details, tick on OTM and submit the same to the nearest CAMS ISC or Union AMC branch.
The entire SIP registration process takes around 30 days. Hence, the first auto SIP debit will start on the date selected by the investor post completion of 30 days from the receipt of the SIP form.

Whereas for online mode registering an SIP is very simple, quick and convenient. Just login to our portal unionmf.com/investorlogin/ and follow the instructions. Complete the process by registering the Unique Registration Number (URN) at your bank site by following the instructions mentioned in the confirmation mail. SIP will be registered within 10 days post the successful registration confirmation received by your bank. Online mode is a preferred mode of investment since this eliminates all the hassles of paperwork.

5. What is a One Time Mandate (OTM) Facility?

OTM is a one-time registration process that will make your investment process simple, convenient and paperless. Without having to sign a cheque or send money online, OTM is an authorization you give to your bank to debit your account up to a certain limit each day as and when you invest with Union Mutual Fund.

6. For a new SIP, do I need to fill a new SIP form?

Investors who have already registered for an OTM facility or filed an OTM form do not need to do so again because OTM registration only need to be done once for each bank account. However, such investors may fill out the form if they want to add a new bank account to the OTM facility.

7. What is the minimum application amount and the minimum no. of instalments required for an SIP investment?

For most schemes, you can start an SIP with a minimum amount of Rs. 1000 each month for a minimum of 6 months. However, the same would differ basis the scheme you have selected and the frequency at which you choose to invest. Below is a snapshot for quick reference.

SIP Frequency#SIP Minimum Amount#Minimum PeriodDefault Date/Day
(Applicable to Schemes other than Union Long Term Equity Fund)Union Long Term Equity Fund
DailyRs. 300 and in multiples of Re.1 thereafterNot applicable1 Month -
WeeklyRs. 500 and in multiples of Re. 1 thereafterRs. 500 and in multiples of Rs. 500 thereafter12 WeeksWednesday
MonthlyRs. 1000 and in multiples of Re. 1 thereafterRs. 500 and in multiples of Rs. 500 thereafter6 Months8th of the month
QuarterlyRs. 5000 and in multiples of Re. 1 thereafterRs. 1500 and in multiples of Re. 500 thereafter2 Quarters8th of the month
# SIP Frequency refers to the frequency at which SIP triggers shall be presented to your bank account for debit. Example: Monthly, Quarterly, Weekly, Daily. In case the chosen date/day falls on a non-business day or on a date which is not available in a particular month/week, the SIP will be processed on the immediate next business date/day.

Daily Frequency is available only for Union Flexi Cap Fund.

Weekly Frequency is available under all existing open-ended schemes except Union Liquid Fund and Union Overnight Fund. Any day between Monday to Friday is to be specified for weekly frequency. In case of any discrepancy, “Wednesday” shall be considered as the default day.

SIP Frequency: SIP frequency has to be specified. In case none of the available frequencies have been selected, then monthly frequency shall be treated as the default frequency, provided the monthly frequency's minimum instalment size criteria is met. In case the SIP day/date is not indicated, the default SIP day/date will be Wednesday for weekly* frequency and 8th of every month for monthly and quarterly frequency.

 

8. Whether all the schemes of Union Mutual Fund offer an SIP Facility?

Yes. Most of the open- ended schemes of Union Mutual Fund offer an SIP facility.

9. Will there be any penalty if my SIP instalment fails for any reason?

There will be no penalty levied by Mutual Fund. However, the banker might charge you on account of debit instructions/instrument being dishonoured for any specified reason. The AMC reserves the right to terminate the SIP registration after 3 consecutive reversals due to any reason.

10. What is an SIP top-up facility?

An SIP Top Up facility is one where an investor can increase the SIP amount at regular intervals without having to submit a fresh SIP mandate every time. This facility is available in half-yearly and yearly frequencies and the top-up amount has to be a minimum of Rs. 100 and in multiples of Rs. 100 thereafter. For complete details about the facility, please refer to the Scheme Information Document and Key Information Memorandum of the respective scheme.

11. What is an SIP pause facility?

An SIP pause facility is one which enables an investor to pause his/her existing SIP for a specified period. Later, on the expiry of the specified period, the SIP would restart automatically. For complete details about the facility, please refer to the Scheme Information Document and the Key Information Memorandum of the respective scheme.
Click here for the SIP pause form.

Alternatively, an investor can pause his/her SIP online by clicking here.

12. What is the procedure for renewing my SIP?

In case an investor intends to renew his/ her SIP in the same scheme or any other scheme, the following documents need to be submitted to the AMC 30 days prior to the last instalment date:

• SIP mandate form (SIP OTM / NACH mandate form),
• Original cancelled cheque of the same bank where SIP debit is to be initiated
• KRA-KYC acknowledgment for the sole holder/ all joint holders, as applicable.

Alternatively, you can renew your SIP online, by simply clicking on this link and following the instructions.

Online SIP FAQs

1. What is an online SIP?

An ISIP or an internet-based SIP is a completely paperless way of setting up an SIP. It takes away the cumbersome process of paperwork and replaces it with a simple and convenient way of registering the SIP online using internet banking and biller addition.

2. What does it mean to add a biller?

Once you have registered your SIP on our website, a Unique Registration Number (simply referred to as URN) is generated. This URN will act as your transaction reference number.

The next step is to login to your net banking, add Union Mutual Fund as a biller, and confirm the transaction by entering the URN number. Please note that the URN has to be entered in the same format as it appears in the SIP confirmation email sent by Union MF. Also, this URN is valid only up to 7 days and therefore needs to be registered with your bank within these 7 days. Any queries regarding ISIP application / registration can be resolved promptly based on the URN.

3. Through which banks can I invest using online SIP (ISIP)?

Union Mutual Fund offers you Online SIP (ISIP) through the banks mentioned below. Please note that you need to have your net banking and bill pay registration facility availed with your bank for using the ISIP facility. Click Here

4. Who can avail of the Online SIP (ISIP) facility?

An existing individual investor with Union Mutual Fund who is KYC compliant and has a username and password for the Invest Online section can apply, register and invest through our Online SIP (ISIP) module.

However, if you do not have a Union Invest Online username and password but wish to avail this facility, please visit our website to generate the online username and password and then apply for Online SIP (ISIP). (Click Here)

5 What is the difference between “Auto Pay” and “View and Pay” option in net banking?

Two options are available when registering any biller on Net Banking, viz. "Auto pay" and "View and Pay" options. "Auto Pay" ensures that the SIP amount is directly debited from your bank account on the SIP due date without any manual intervention. However, under the "View & Pay" option, you need to manually authorize the payments on or before the SIP due date. If the investor fails to authorize this debit, the scheduled SIP transaction shall be reversed.

6. Can I register for the OTM facility digitally?

Yes. You can opt for the OTM Facility by clicking on the below link www.camsonline.com and following the steps given in the link. The OTM will be updated folio-wise. All the details required to update the OTM, like bank details, maximum amount to be debited, SIP tenure, etc., need to be filled in and validated by logging into net banking. This completes the OTM registration from the investor's side. The bank would take 3 - 4 days to validate and update the online SIP mandate details in the system.
You can then make one-time purchases or SIP transaction basis the OTM registered.

7. If I have an existing OTM, can I start an SIP?

Yes. Basis an existing OTM, you can make one-time purchases and conduct SIP transactions online and offline.

8. Can I modify or cancel my online SIP ? If so, how?

You can cancel your online SIP by logging into to our website with your username and password. Post login, under the SIP tab, select the specific SIP you need to cancel and confirm your request. (Click Here)

Presently, you cannot modify an existing SIP. You will have to cancel the existing SIP and register a new SIP as per your requirement.

Systematic Transfer Plan

1. What is a Systematic Transfer Plan (STP) Intello Facility?

STP Intello ("the facility") is a facility wherein unit holder(s) can opt to transfer variable amount(s) from designated open-ended scheme(s) of Union Mutual Fund (Source Scheme) to the designated open-ended scheme(s) of Union Mutual Fund (Target Scheme) at defined intervals. The unitholder would be required to provide a Base Instalment Amount that is intended to be transferred to the Target Scheme.

Please refer to the STP Intello form uploaded on our website www.unionmf.com for complete details about the facility.

2. What is the benefit of investing through an STP?

STP provides all the benefits that one would get in the case of an SIP. However, if you have a lumpsum amount at your disposal, you may consider investing in one scheme and then systematically transferring the amount to another scheme through the STP facility. This transfer will also benefit you from earning interest income in the transferor scheme until the entire money is systematically transferred to the transferee scheme.

3. What is the procedure for setting up an STP?

An investor having an existing folio can register for an online STP. To register an STP online, go to www.unionmf.com Log-in section

Then follow the below-given steps-
• Click on transact
• Click on STP
• Select Folio
• Choose the scheme you wish to switch from
• Select the scheme you want to switch into
• Enter units or amount
• Click on continue to confirm the transaction
• Enter OTP, which is sent on your registered email id/mobile number
After the above step, the transaction will be processed.

If the investor is unfamiliar with an online system and does not have an existing folio, the investor can fill the physical STP registration form. The details like Folio number, Transferor & Transferee scheme, STP amount, Frequency & Tenure in the enrolment form need to be clearly mentioned. Then, the duly filled-in STP form must be submitted to the nearest CAMS, ISC or AMC office.

4. How many days will it take to register my STP?

A minimum period of 8 days shall be required for registration under STP. If the required time of 8 calendar days is not met, then the STP will be processed from the next STP cycle.

5. What is the minimum amount, minimum number of instalments and the frequency available in the STP facility?

The minimum amount, minimum number of instalments and the frequencies available are as follows:

FrequencyCycle Day/Date*Default Day/DateMinimum Installment Amount (in Rs.)^Minimum Installments
DailyDaily(Only Business Day)Not ApplicableRs. 100 and in multiples of Re. 1/- thereafter6
WeeklyMonday to FridayEvery WednesdayRs. 100 and in multiples of Re. 1/- thereafter6
FortnightlyEvery Alternate WednesdayEvery Alternate WednesdayRs. 100 and in multiples of Re. 1/- thereafter6
Monthly/ Quarterly/ Half YearlyAny date of the month8th of the monthRs. 100 and in multiples of Re. 1/- thereafter6
*In case any of these days fall on non-business day, the transaction will come into effect on the next business day of the scheme.
^For STP from Union Long Term Equity Fund, the minimum instalment amount will be Rs. 500 & in multiples of Re.1 thereafter.

6. What will happen if my STP transactions fail for any reason?

If the minimum required balance is not available in the source scheme (switch-out scheme) for 3 consecutive attempts, the STP registered will be terminated. Similarly, the STP will be automatically terminated if all units are liquidated or withdrawn from the source scheme or pledged or upon receipt of intimation of death of the unitholder.

7. Can I modify my STP details like STP amount, STP frequency, etc.?

Yes. You can modify your existing STP details (amount and/or frequency). A written request duly filled with whatever modifications are required needs to be signed by all the unit holder(s) according to the mode of holding and sent to the Customer Service Centres (CSC) Customer Service Centres (CSC) of the AMC or its Registrar 8 days prior to the next STP date.

8. What is the online procedure to discontinue, my existing STP online?

You can cancel an existing STP, registered online or offline, by using the online portal. You must first login using your credentials, then under the quick links option, select the ongoing STP that you seek to cancel and click on 'Cancel STP'. This should be done at least 2 days prior to the next STP due date.

Alternatively, investors may discontinue the STP at any time by sending a written request to the Customer Service Centres (CSC) of the AMC or its Registrar. But in this case, the STP cancellation request must be submitted at least 8 days before the next STP due date.

Systematic Withdrawal Plan

1. What is a Systematic Withdrawal Plan (SWP)?

A Systematic Withdrawal Plan is a facility through which investors can withdraw fixed amounts (subject to exit load and tax deduction at source, if applicable) at a specified frequency by giving a single instruction. For example – monthly/ quarterly/ yearly withdrawal from the investments held in any mutual fund scheme. The amount shall be automatically withdrawn from the selected scheme and credited to the investor's bank account basis pre-defined SWP frequency.

Illustration:
Assume a person has registered an SWP with monthly frequency for an amount of Rs. 2000.
Total units held by the person in the scheme = 8000 units.
The Net Asset Value (NAV) of the Scheme at the time of first instalment is Rs. 20.
Units equivalent to the instalment amount shall be withdrawn = Rs. 2000/ Rs. 20 = 100 units. The amount of Rs. 2000 (subject to exit load and tax deduction at source, if applicable) shall be credited to the investor's bank account.
Units remaining after the first instalment = 8000 -100 = 7900.

2. What is the benefit of opting for SWP?

SWP is beneficial for investors seeking regular cash flows from their investments. The SWP facility provides the investor the convenience of auto-withdrawal without having to place a redemption request every time the investor wants some amount at his/her disposal.

3. What is the procedure to register for an SWP?

SWP can be registered by various modes:
Online - Log in to unionmf.com/investorlogin/
Physical – You can register an SWP by submitting a duly filled and signed SWP registration form at any of our branches or CAMS Investor Service Centres.

4. How many days will it take to register an SWP request?

A minimum period of 8 days shall be required for registration under SWP. If the required time of 8 days is not met, then the SWP will be processed from the next SWP cycle.

5. Is SWP available in all Schemes?

Yes. An SWP is offered in all schemes of Union Mutual Fund.
However, the SWP facility will not be available under demat mode of holding units.

6. What is the minimum amount, minimum number of instalments and the frequency available in the SWP Facility?

The SWP frequencies available under various scheme(s) are as follows:
FrequencyCycle Day/Date*Default Day/DateMinimum Installment Amount (in Rs.)Minimum Installments
DailyDaily (Only Business Day)Not ApplicableRs. 1000 and in multiples of Re. 1/- thereafter6
Monthly/Quarterly/Half-Yearly and YearlyAny day of the month8th day of the monthRs. 1000 and in multiples of Re. 1/- thereafter6
*In case any of these days fall on a non-business day, the transaction will take effect on next business day of the month.

7. Is exit load applicable for an SWP?

An exit load will be charged as per the applicable load structure for the specific scheme at the time of registering the SWP.

8. Will there be any penalty if an SWP transactions fail for any reason?

There will be no penalty if an SWP transaction fails for any reason. However, if the minimum required balance is not available in the scheme for 3 consecutive attempts, the SWP registration will be terminated. The SWP will automatically be terminated if all units are liquidated or withdrawn from the scheme or pledged. Termination will also occur upon receipt of intimation of the death of the unitholder.

9. What is the procedure to discontinue an existing SWP?

An SWP can be discontinued by various modes:
Online - Log in to www.unionmf.com
Physical – You can cancel an SWP by submitting the SWP registration form at any of our branches or CAMS Investor Service Centres. This should be done at least 8 days prior to the next SWP due date.

10. Is there any end date that applies to an SWP?

The date specified by the investor in the application form shall be the end date of an SWP. If the investor does not select the SWP end date, then the SWP will continue till all units are liquidated or withdrawn from the account or pledged. If a unit holder passes away, the SWP will continue until the AMC receives a notification of the death of the unit holder.

11. Can an investor register multiple SWPs under the same folio or same the scheme?

Yes, an investor can register multiple SWPs in the same folio/ scheme.

12. What happens if an investor makes an additional investment in the scheme?

If an investor makes additional investment in the scheme, the additional amount will increase the number of units available for SWP. The SWP will continue until units are available in the source scheme.

13. What if the amount available in the scheme is less than the minimum withdrawal amount at any given time?

Investors may consider making additional investments in the Scheme to keep the SWP active. However, if for some reason, the balance in the source Scheme falls below the minimum withdrawal amount, the SWP will not be processed and on 3 consecutive failures the SWP will stand cancelled.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Statutory Details: Constitution: Union Mutual Fund has been set up as a Trust under the Indian Trusts Act, 1882; Sponsors: Union Bank of India and Dai-ichi Life Holdings, Inc.; Trustee: Union Trustee Company Private Limited, [Corporate Identity Number (CIN): U65923MH2009PTC198198], a company incorporated under the Companies Act, 1956 with a limited liability; Investment Manager: Union Asset Management Company Private Limited, [Corporate Identity Number (CIN): U65923MH2009PTC198201], a company incorporated under the Companies Act, 1956 with a limited liability. Registered Office: Unit 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai - 400059. Toll Free No.18005722268/ 18002022268 Non Toll Free. 022-67483333 Fax No: 022-67483401. Copy of all Scheme Related Documents can be obtained from any of our AMC offices/ Customer Service Centres/ distributors as well as from our website www.unionmf.com

5. Non-financial Transactions

Change of bank details

1.How do I update my bank account details in my folio?

You may change your bank account online:

• Update your bank Mandate online, instantly by clicking on www.camsonline.com (only for folios that fall within the valuation limit of Rs 1.5 lakh)
• If your folio valuation exceeds Rs 1.5 lakh, use the log-in section of www.unionmf.com

Alternatively, you may submit the physical form to any of our branches or CAMS service centres near you.

2.What documents are required to change my bank account details using a physical form?

To change the bank account details using a physical form, the following documents needs to be submitted:

1. Bank Account Registration Form signed by all the unit holder(s) according to the mode of holding.
2. Proof of existing and new bank mandate – Self attested copy of any one of the following documents (originals should be produced for verification) or wherever the original documents cannot be brought for verification, a copy should be attested by the bank:

Cancelled original cheque of the new bank mandate with first unit holder’s name and bank account number printed on the face of the cheque.
                                                                                                            OR
Bank passbook with current entries not older than 3 months containing the first unit holder’s name and bank account number.

In the absence of originals / copy / bank attested documents of the old and new bank account, the investor will need to visit Union AMC or CAMS branches for an In Person Verification [IPV] along with the original PAN / photo Identification proof and new bank document.

3.How many bank accounts can I register against one folio?

Individuals, HUFs, Sole Proprietor firms can register up to 5 bank accounts and Non-Individuals can register up to 10 bank accounts in a single folio.

4.If a folio has multiple bank accounts registered against it, to which account will the redemption or dividend proceeds be transferred?

The bank account designated as the "default" bank account will receive the redemption and dividend proceeds.

5.Can I delete any of my registered bank accounts from the folio?

You can only delete your bank account if more than one bank account is registered against the folio.
You must have at least one registered bank account in the folio, as it is mandatory for redemptions and dividend pay-outs.

Update contact details

1.How can I change the email ID / mobile number registered against my folio?

Email ID or mobile number registered in the folio can be changed by the following modes:

• Online Process
1. Go to Investor Hub – Update Personal Details
2. Change your email id or phone number using your PAN , folio number & OTP.

Note: Please note that this facility is limited to individual investors. Only one change is allowed at a time and it requires OTP verification at the time of change. If both, your email ID and your mobile number are not updated in our records and you wish to provide both these details or if your email ID and your mobile number are registered in our records but you wish to update both of them together, then you need to follow the offline process as given below.

• Offline Process
1. Download the request form
2. Fill in the form
3. Submit the duly filled form at any of the Investor Service Centres (ISCs) of Union Mutual Fund or Computer Age Management Services Limited, Registrar and Transfer Agent of the Schemes of Union Mutual Fund.

Nomination

1.How can I register/opt out of nomination in my folio?

1. Log in to our portal

2. Select the folio
3. Update nominee/ opt out of nomination by using OTP.

Alternatively, you may submit a duly signed Nomination Form at any of the Investor Service Centres (ISCs) of Union Mutual Fund near you.

2.Can I change the nominee registered in my folio?

Yes. You can change the nominee registered in the folio by following the same process as mentioned in "How can I register / opt out of nomination in my folio?" Once completed, the new nomination will replace the existing nomination in the folio.

3.How many nominees can I register in a folio?

You can register upto three nominees. If more than one nominee is registered, the percentage allocation/ share in favour of each of the nominees should be indicated against their name. Such allocation / share should be in whole numbers only, making a total of 100 percent. If no percentage is mentioned, all nominees will get equal weightage.

4.Who can register a nominee?

Only individuals and sole proprietors can register nominations.

Non-individuals, including societies, trusts, body corporates, partnership firms, Karta of Hindu Undivided Family, and holders of Power of Attorney, cannot register nominees.

Also, registering a nominee is not allowed in a folio held on behalf of a minor.

5.Who can be appointed as a nominee?

Nominees can be:

• An Individual
• A Minor. Minor(s) can be nominated and in that event, the name and address of the guardian of the minor nominee shall be provided by the unit holder. However, in such cases, the unit holder(s) cannot be the guardian of the nominated minor.
• Central Government, State Government, a local authority; any person designated by virtue of his/her office.
• Religious or charitable trust.
• A non-resident Indian subject to the exchange controls in force from time to time.

6.Is nomination mandatory?

Nomination or declaration to opt out of nomination is mandatory.

If you do not want to add any nominee to your folio, you need to submit "Nomination Opt Out Form" to any of our branches or at any Investor Service Centres of CAMS near you.

Applications where neither nomination nor declaration for opting out of nomination is provided, are liable to be rejected.

Address Change

1. How do I update my address in the folio?

To update address in the folio, the same has to be first updated in your KYC records. Please submit a KYC Form to any of our branches or CAMS Investor Service Centres near you.

Copies of all required documents must be self-attested and accompanied by originals for verification. If originals cannot be provided, copies should be attested/ verified by authorized entities as per KYC guidelines.

Once the address is updated in the KYC Registration Agency (KRA) records, it will automatically be updated in the folio.

2. My address is updated on the KYC records, but not updated in my folio. What should I do?

Please send us an email from your registered email ID to investorcare@unionmf.com or call us on 18002002268 or 18005722268 from your registered mobile number.

Name & Signature Change

1. How do I change my name in the folio?

Please submit “Change of signature/ Name: Request Form” along with the following required documentation at any of our Branches or at any CAMS Investor Service Centres near you.

• KYC – KRA Acknowledgement with New Name
• Self-attested copy of PAN card with the new name/ photo identity proof exempt cases.
• Duly attested copy of Marriage Certificate / Divorce Deed / Gazetted copy of name change.

The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all the holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.

2.What is the process to update Signature in folio? (Applicable to Individuals/ NRIs/ Sole Proprietors/ HUF Karta)

You may submit the “Change of signature/ Name: Request Form” IN PERSON at any of our Branches or at CAMS Investor Service Centres along with:

• A PAN card copy, OR
• Banker's attestation Letter (mandatory in case of PAN exempt cases) & attested photo identity proof.
Bring the original documents for verification.

Consolidation of Folios

1.How can I consolidate my multiple folios?

Multiple folios can be consolidated by submitting a form for consolidation of folios which you can submit at any of our Customer Service Centres of AMC/Registrar nearest to you.

Consolidation can occur only if all of the below-mentioned details are identical in the folios:

• Names of unit holders
• Order of unit holders
• Mode of holdings
• Tax status
• Bank details
• Nomination

Also, please ensure the following tasks are completed before you submit the request to consolidate:
• The form is signed by all unit holders irrespective of the mode of holding
• KYC is registered for all the holders

Minor Attaining Majority

1.I have turned 18. How do I update my 'Minor' status in the records?

You can submit the Minor to Majority form at any of our branches or at CAMS Investor Service Centres along with the following documents:

• KYC acknowledgement
• Signature attestation by a guardian
• Original cheque with name and account number pre-printed

2.How can a new 'Guardian' be updated in my folio?

Change of Guardian form can be submitted at any of our branches or CAMS Investor Service Centres along with the following documents:

• KYC of the new guardian
• No Objection Letter (NOC) or Consent Letter from an existing guardian or a court order for new guardian
• Relationship proof with the guardian
• Bank attestation of the bank account of the minor where the new guardian is appended
• A notarized copy or attested copy of the Death Certificate of the deceased guardian
Please note, the new guardian must be a natural guardian (i.e., father or mother) or a court appointed legal guardian.

Tax Status Change

1.How do I change my tax status from NRI to Resident Indian or from Resident Indian to NRI?

To update your tax status, you need to submit the following documents at any of our Customer Service Centres of AMC/Registrar:

• Non-Financial Transaction Form - Change in Tax Status
• Original cancelled cheque with pre-printed name & account number of the new bank account

Also note that if there is a change of tax status from Individual to NRI, we can update the same only if the new bank mandate is an 'NRO Account' as the investments had originally come from Savings or NRO account.

The mutual funds industry regulator, SEBI, has made KYC (Know Your Customer) mandatory for all holders in a folio. This means a transaction request will not be processed if KYC is not updated for all the unitholders in the folio.

Power of Attorney

1. What is a Power of Attorney (POA?)

Power of Attorney is a written authority to act for another person in specified or all legal or financial matters to act on their behalf. Mutual fund investors can issue a power of attorney to a designated person in order to operate their folios and conduct transactions on their behalf. The POA holder may have only a limited set of powers as defined in the agreement.

2. Can investment be done through a Power of Attorney (POA)?

Yes, provide the POA must be executed on stamp paper and registered in India.

3. How do I register a POA in the folio?

A notarized copy of POA can be submitted along with the purchase application. Alternatively, you may submit Non -Financial Transaction Form and a notarized copy of the POA.

The documents required for POA registration are:
• KYC acknowledgement of POA holder
• FATCA details

4. Can a POA be cancelled or revoked? What are the steps that need to be taken to cancel or revoke the POA?

Yes. The investor or POA holder will have to submit a written confirmation to cancel or revoke the POA.

5. Can a POA make or modify the nomination registered in the folio?

No, the POA can neither make nor modify the nomination registered in the folio.

6. Transmission

1.What needs to be done in the event of death of a unitholder?

Please inform us in case you were close to the unitholder.

A ready reckoner matrix of various documents and the common set of forms required under different situations is available: Click Here. You may submit the duly filled form at any the of Customer Service Centers of Union Mutual Fund or Computer Age Management Services Limited, Registrar and Transfer Agent of the Schemes of Union Mutual Fund.

2.What is Transmission?

Transmission is the process by which the Mutual Fund units of a deceased unit holder are transferred to the claimant. The claimant can be the second holder, the nominee registered in the folio, or the legal heir.

3.How long does it take to complete transmission?

The process can take up to 10 business days after submission of the complete set of required documents.

Note :

• Investors are requested to note that AMC shall not accept any "Transmission-cum-Redemption Request" and shall first accept and process the request for transmission of units with proper documentation and thereafter accept and process the redemption request.

• While the list of documents mentioned in the ready reckoner will be taken in all cases, AMC may consider seeking additional documents depending upon the amount involved in transmission on a case to case basis.

• It shall be noted that only on receipt of the complete documentation, transmission request will be processed.

For any transmission related queries, investors can contact us at email: investorcare@unionmf.com

Contact number: 022 67483333 or Toll Free number : 18002002268 or 18005722268

7. NRI Corner

1. Can a Non-Resident Indian (NRI) /Person of Indian Origin (PIO) /Foreign Portfolio Investors(FPI) /Overseas Corporate Body (OCB) invest in Mutual Funds in India?

Yes, an NRI/ a PIO can invest in Indian Mutual Funds on a Repatriable/Non-Repatriable basis. However, OCBs (Overseas Corporate Body) cannot invest in mutual funds in India. However, NRIs would have to comply with all regulatory requirements such as completion of KYC before investing. However, a few countries such as US and Canada have restricted investments by NRIs in Mutual Funds without relevant disclosures. NRIs from these countries should therefore first discuss the feasibility of investing in Indian funds with their advisor before doing so.

2. How will NRIs invest in Indian MFs?

A pre-requisite for an NRI to invest in Mutual Funds, is to maintain an NRE, NRO or FCNR bank account in India:

Non-Resident (External) Rupee (NRE) Accounts: These are rupee accounts on a repatriable basis. They can be opened with either funds remitted from abroad or local funds, which can be remitted abroad.

Ordinary Non-Resident Rupee (NRO) Accounts: These are rupee accounts and can be opened with funds either remitted from abroad or generated in India. The amount in such accounts is non-repatriable.

Fully Convertible Non-Rupee (FCNR) Accounts: These are similar to NRE account except that the funds are held in foreign currency like Yen, Euro, etc.

3. How does an NRI invest in Schemes of Union Mutual Fund?

There are several ways to start investing in a scheme(s) of Union Mutual Fund:

1) Log in to www.unionmf.com

2) Email: Existing investor can transact by sending an email from their registered email id to our official email id transact.mail@unionmf.com. The same needs to be supported with a fund transfer receipt and signed application form.

3) Chatbot: Investors can visit Unionmf (website link) and access the chatbot. The chatbot has a separate journey for both existing investors and new investors. So accordingly, the investor will proceed on the bot.

4) Whatsapp Bot: The investors can send “Hi” to us on our website link on Whatsapp and access various features available therein.

5) Alternatively, investors can opt for Physical mode by submitting the following documents - –

     a. A Common Application Form (New Investor)/ Transaction Slip (Existing Investor) duly completed along with cheques / fund transfer proof should be submitted at the nearest Customer Service Centre of Union Mutual Fund/ Computer Age Management Services Limited. All cheques/fund transfer proofs accompanying the application form must be made in favour of the scheme’s name in which the investor wishes to invest.

     b. KYC acknowledgement.

     c. To invest on a repatriable basis: The investment amount should be from cheques drawn on the NRE/FCNR account  of the investor, payable at the city where the application form is to be submitted.

     d. To invest on a non-repatriable basis: The investment amount should be from cheques drawn on the NRO account of the investor, payable at the city where the application form is to be submitted.

     e. FPIs may pay from funds held in a Foreign Currency account or Non-resident Rupee account maintained in a designated branch of an authorised dealer. The Indian Rupee cheques should be made payable at the city where the application form is to be submitted.

4. For NRIs and FPIs what would be the set of documents required for KYC and subsequent investment?

Since your KYC documents will be in the custody of KRA, for the AMCs records, you are requested to submit the below-mentioned documents to the AMC independently.
Types of EntityKYC Documents requiredInvestment documents required
NRI
  • KYC Form
  • Colored Photo
  • PAN Card - Self Attested
  • Address Proof (Indian if Any) - Self Attested
  • Address Proof (Overseas) - Self Attested
  • Passport Copy (1st two pages & Last 2 Pages) - Self Attested
  • Common Application Form
  • Investment Cheque - with A/C Type Mentioned
  • Bank Account Proof
FPIs
  • KYC Form
  • Pan Card of FPIs
  • Address Proof of FPIs
  • Copy of SEBI Registration Certificate
  • Authorized signatories list with specimen signatures
  • Resolution/ Authorization to invest
  • Common Application Form
  • Investment Cheque - with A/C Type mentioned
  • Copy of the Board Resolution for investment in the securities market
  • Authorized signatories list with specimen signatures
  • FATCA and UBO

5. What documents are acceptable as valid overseas address proof in the case of NRIs?

The following documents can be submitted as valid overseas address proof in the case of NRIs. For a detailed and more updated list of documents acceptable, please refer to the instruction section of the CKYC form.

1. Photocopy of valid passport mentioning the overseas address.
2. Photocopy of overseas bank statement not more than 3 months old.
3. Photocopy of bank statement or passbook of a Non Resident account
4. Photocopy of credit card bill not more than 3 months old.

6. How does an NRI investor redeem his/her funds?

Online: Logon to our website www.unionmf.com

Physical: Alternatively, in the case of open-ended mutual fund schemes, investors should fill up the redemption slip and submit it to the Customer Service Centres of AMC/Registrar. In the case of close-ended mutual fund schemes, the redemption slip has to be submitted at the stock exchange where the scheme is listed through a registered stock exchange member.

Chatbot: Investors can visit Unionmf and access the chatbot to place the redemption request.

7. Is nomination by NRIs allowed in the schemes of Union Mutual Fund?

Yes. An NRI can nominate.

8. Can an NRI have a joint account in a scheme of Union Mutual Fund with a resident Indian?

Yes. An NRI investor can have a joint holding with a Resident Indian or a Non-Resident when investing in Union Mutual Fund.

9. What is the procedure to change the tax status from NRI to Resident Indian?

The investor needs to duly fill in the section on ‘Change in Tax Status’ given in the Non-Financial Transaction form and clearly mention the change in the tax status along with the subsequent change in bank details from NRE/NRO to Resident Indian. In addition, the investor needs to attach the cancelled cheque leaves of the NRI bank account from where the earlier investment was done and the new bank account.

Please refer to the Non-Financial Transaction Form available at www.unionmf.com for complete details.

10. Can a Power of Attorney (POA) holder invest on behalf of the NRI investor?

Yes, provided the POA submitted by the investor should contain a clause entrusting the POA holder to invest in securities on behalf of the NRI. Basis this clause the POA holder can invest, redeem, switch and do any other financial transaction on behalf of the investor both in online as well as offline mode. However, the POA holder cannot nominate on behalf of the NRI.

11. Can an investor redeem his/her MF units and change the bank mandate simultaneously?

No, please note that a request for change in bank details cannot be submitted along with a redemption request. Redemption payments will be processed and the last registered bank account information will be used for such payments. Further, if the Change/Updation of Bank Mandate/Multiple Bank registration has been made ten days, prior to the submission of the redemption request, then the redemption payments will be made to the new bank mandate. For such cases the payments will be made within the regulatory time limit and the normal scheme specific payment timelines will not be applicable.

12. What is the tax implication for NRI investors?

Under Section 2(42A) of the Income Tax Act, units of the fund held as a capital asset for a period of more than 12 months immediately preceding the date of transfer will be treated as a long-term capital asset for the computation of capital gains, thus qualifying for the long-term capital gains tax rate. In all other cases, it would be treated as a short-term capital asset and would be taxed at the short-term capital gains tax rate. For complete details in this regard please check the Tax Ready Reckoner.

13. What is the proof of the Tax Deduction at Source?

A TDS certificate is issued in the name of the investor mentioning the details of the transaction and the tax deducted.

14. What is the TDS deducted for NRIs in case of dividend income received from mutual funds?

The income distributed to Non Resident Unit Holders, will be subject to TDS @ 20% plus applicable surcharge and Health and Education Cess.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Statutory Details: Constitution: Union Mutual Fund has been set up as a Trust under the Indian Trusts Act, 1882; Sponsors: Union Bank of India and Dai-ichi Life Holdings, Inc.; Trustee: Union Trustee Company Private Limited, [Corporate Identity Number (CIN): U65923MH2009PTC198198], a company incorporated under the Companies Act, 1956 with a limited liability; Investment Manager: Union Asset Management Company Private Limited, [Corporate Identity Number (CIN): U65923MH2009PTC198201], a company incorporated under the Companies Act, 1956 with a limited liability. Registered Office: Unit 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai - 400059. Toll Free No.18005722268/ 18002022268 Non Toll Free. 022-67483333 Fax No: 022-67483401. Copy of all Scheme Related Documents can be obtained from any of our AMC offices/ Customer Service Centres/ distributors as well as from our website www.unionmf.com

8. Tax Ready Reckoner

9. Others

Lien Marking

1.What documents are required to mark lien in the folio/s?

Lien can be marked on either full or partial units available in the folio(s) by submitting the following documents at any of our branches or at Investor Service Centres of Computer Age Management Services Limited (CAMS):

• Lien Request Letter from Unitholder
• Letter from Bank / Financial Institution
• Board Resolution + Authorized Signatory List (in case the investor is non-individual)
• Board Resolution + Authorized Signatory List of Financer

In the case of a lien, the institution in whose favour the lien has been marked also needs to be KYC compliant, in addition to the unitholder whose units have been lien marked

2.Can lien be marked for a specific amount?

No. Lien can be marked only on available units.

3.Can I mark lien on my investment in Union Long Term Equity Fund and Union Retirement Fund?

Yes. A lien can only be marked on clear units when 3 years/lock in period has been completed.

4.How can I remove the lien in the folio?

Lien can be removed by submitting a lien removal letter from the financier clearly specifying the scheme and units' details. The request can be submitted at any of our branches or Investor Service Centres of CAMS.

5.How can I invoke Lien?

A lien invocation letter should be submitted by the Financier with an updated Authorized Signatory List at any of our Branches or at Investor Service Centres of CAMS.

The redemption will be processed after verifying the documents and payment will be made to the financier as per the bank mandate provided in the Lien Invocation letter.

Tax Deducted at Source (15G / 15H)

1. What is the difference between Form 15 G & 15 H?

Form 15H is only for Resident Senior Citizens, aged 60 years or above, while Form 15G is for Resident Individuals (below 60 years of age) or any person other than a company or a firm.

2. What is the validity of Form 15 G & 15 H?

Form 15G and Form 15H are valid for one financial year. Therefore, investors need to submit these forms every year at the beginning of the financial year. A Financial year is a period of 12 months, starting on April 01 and ending on March 31.

3. Can an investor submit Form 15 G & 15 H anytime?

Investors can submit the forms anytime. However, the TDS deduction would stop from the subsequent quarter. Hence, it is advised to submit Form 15 G or 15 H every year, preferably at the beginning of the financial year, i.e., in April.

4. What are the conditions that investors must fulfil to submit Form15G?

An individual or HUF or trust or any other assesse but not a company or a firm can submit form 15 G.

An individual availing this facility must fulfil the following conditions:
• He/she must be a Resident Individual.
• He/she should be less than 60 years of age.
• Tax calculated on the investor’s total income should be Nil.
• The total income for the year is less than the basic exemption limit of that year after deduction(s) under Chapter VI‐A, if any, for which the declarant is eligible.

5. Conditions you must fulfil to submit form 15H?

A Resident Indian Individual can submit form 15H only.

A Resident Indian Individual availing this facility must fulfil the following conditions:
• The investor must be a senior citizen attaining the age of 60 years and more during the financial year for which he/she is submitting the form.
• Tax calculated on the investor’s total income should be Nil.
• The total income for the year is less than the basic exemption limit of that year after deduction(s) under Chapter VI‐A, if any, for which the declarant is eligible. (For the current FY 2022-23 (AY 2023-24), the basic exemption limit is Rs. 2.5 lakhs)

6. What are the provisions for an investor who forgets to submit Form 15G or Form 15H within the given time?

The investor will have to file an income tax return to claim the credit of the TDS amount. Mutual Fund would not be able to refund Tax Deducted at Source (TDS) to the investor, as the deductor is required to deposit TDS at the income tax department on a monthly basis.

7. How can I submit Form 15G/H?

An Investor can submit form 15G/H online by clicking on the below given link - CAMS 15G/H Form Mutual Fund Service Request Form camsonline.com
Alternatively, investors can submit a physical form 15G & 15H to any of our branches or at any CAMS Investor Service Centres near them.

8. Will I get a statement from Union Mutual Fund reflecting the TDS paid?

Yes, a TDS Certificate will be issued quarterly after the Fund files the TDS return. The TDS amount will also reflect in your form 26AS at the Income Tax Return e-Filing portal.