The Securities Exchange Board of India (SEBI) on May 15, 2026, notified regarding the Removal of difficulties for onboarding for FPIs - PAN allotment related issues.
The following has been stated:
• SEBI and the Central Board of Direct Taxes have issued clarifications to simplify PAN application requirements for Foreign Portfolio Investors (FPIs) under the Income-tax Rules, 2026. This follows difficulties faced after the new PAN forms introduced additional mandatory fields such as Taxpayer Identification Number, Representative Assessee/Authorised Representative details, and mobile numbers.
• To ease compliance, CBDT has allowed key relaxations: the Authorised Signatory (as per CAF) can be treated as the RA/AR for PAN purposes without additional documentation, and their contact details may be used. Where details like PAN, Aadhaar, or passport are unavailable, the FPI registration number may be provided. In jurisdictions where TIN is not applicable, a placeholder value “0000000000” can be used. If mobile numbers are unavailable, landline numbers may be given instead.
[PR No.30/2026]
