Guide on How to Update PAN Card KYC Verification

Updating your PAN card KYC verification is essential to ensure that your financial and investment activities comply with regulatory standards. This guide provides a comprehensive overview of the steps involved in updating your PAN card KYC verification, including online and offline methods.

Know Your Customer (KYC) is a verification process that banking and financial institutions use to get familiar with their customers. KYC helps banks verify a customer's identity, preventing fraud, money laundering, and identity theft.

You can complete your KYC by furnishing documents to prove your identity. These documents include your PAN Card, Aadhaar Card, Passport, and Voter ID, among others.

According to rules most banks follow, the KYC process must be done before you can avail of banking services. KYC must be completed when opening a new bank account, applying for a loan or a Credit Card, opening a locker in a bank or investing in mutual funds.

Your Permanent Account Number (PAN) is a unique identification number the Income Tax Department assigns to you. The PAN is proof of your identity as well as income. It also proves that you are a tax-paying citizen of the country. A PAN Card is, therefore, a mandatory document when completing your KYC process.

First, verify if you are KYC-compliant on the Central Depository Services Ltd (CSDL) website. If not, proceed with PAN update online, offline, or via Aadhaar biometric, with bank assistance available.

1. Offline method

• Step 1: Download the KYC form from the CSDL Ventures website [click here to access]. 
• Step 2: Complete and sign the form. 
• Step 3: Attach self-attested copies of your PAN and address proof (Aadhaar Card, Voter ID, Passport, or  other government documents). 
• Step 4: Include a passport-size photograph. 
• Step 5: Submit the signed form and attachments to your nearest bank branch. 
• Step 6: The bank will perform physical verification and update your KYC. 

2. Online method

• Step 1: Ensure you have an Aadhaar ID for KYC compliance.
• Step 2: Visit the SEBI website and access the KYC Registration Agency portal.
• Step 3: Create a profile and enter your Aadhaar and PAN details.
• Step 4: Upload a self-attested copy of your Aadhaar.
• Step 5: Submit the form online.
• Step 6: Verify your account using the OTP sent to your registered mobile number.
• Step 7: Complete your PAN Card update online.

3. Aadhaar-enabled biometric KYC

If you have an Aadhaar ID, you can complete your KYC using the biometric information. An executive from the bank will visit you at home or your office. You need to submit a copy of your Aadhaar card and PAN Card. The executive will scan your fingerprint and map your details with the match. Once you have completed your KYC process, you can track your PAN Card update status by visiting the CSDL website. Here’s the link to the page