AMFI directs fund house to freeze non FATCA compliant account with immediate effect
May 03 2017
News Category: Regulatory Updates
According to media notes, Association of Mutual Funds of India (AMFI) has asked fund houses to freeze non-FATCA (Foreign Account Tax Compliance Act) compliant accounts with immediate effect. This means, non-FATCA compliant investors cannot execute fresh mutual fund transactions. Earlier, the finance ministry had directed fund houses to comply with FATCA regulations before Apr 30, 2017.