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What is the procedure to open an account with Zerodha as a Trust?

A trust account can only be opened offline. If the trust is publicly registered, the trading, demat and commodity account is opened in the name of the trust. If the trust is an unregistered private trust, the trading and commodity account is opened in the name of the trust, and the demat account is opened in the name of the managing trustee.

The documents required to open a Trust account depend on the KYC status of the Trust and the Trustees. To know how to check the KYC status, see What is Know Your Customer(KYC)? How can I check my KYC status?

If the trust and the trustees' KYC are not registered, the following documents are required to open a Trust account:

Application form

Demat Debit and Pledge Instruction (DDPI) form (PDF) is a document that allows a broker to debit the securities from the client’s demat account and deliver them to the exchange. The client does not have to enter the CDSL T-PIN and OTP to sell shares once the DDPI is submitted. However, DDPI is optional. If clients do not wish to submit the DDPI, CDSL T-PIN can be used for authorisation. To learn more, see What is Demat Debit and Pledge Instruction (DDPI)?

FATCA Declaration

Foreign Account Tax Compliance Act (FATCA) declaration (PDF).

Account opening annexures - To be printed on the trust letterhead.

Supporting Documents

  • A PAN copy of the trust with the authorised trustee or signatory seal and signature.
  • Address proof in the name of the trust with the authorised trustee or signatory seal and signature. Address proof can be any one of the following: Last month's transaction copy of bank statement, utility bill, lease agreement or rent agreement or registration certificate.
  • Self-attested individual PAN copies of all the authorised trustees or signatories.
  • Self-attested individual address proof of all the authorised trustees or signatories.
  • Individual KYC form (PDF) filled and signed by the authorised trustee or signatory without the seal.
  • A copy of the trust deed with the investment clause included, attested by a public notary. The first three pages of the trust deed (on all pages if lesser) should have the seal and signature of the authorised signatory.
  • 12-AA Registration certificate for public registered trust.
  • A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised trustee or signatory. The balance sheet must also be attested by a Chartered Accountant (CA) and have the CA's name, CA company name, member registration number (M. NO), UDIN, date and city. Refer to the sample balance sheet (PDF). The balance sheet has to be submitted every financial year after the account is opened.
  • If the trust is newly incorporated, a net-worth certificate from a CA with UDIN Number specified and Income Tax Declaration (PDF) on the trust letterhead with the authorised trustee or signatory seal and signature.
  • A bank account proof of the trust for linking with the Zerodha account. The bank proof can be one of the following: A personalised cancelled cheque with the trust name printed, a bank statement or bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
  • Any one of the following income proof:
    • Latest six months' bank statement or passbook of the trust account.
    • Latest year audited profit and loss statement.
    • Latest year Income Tax Return (ITR) acknowledgement.
    • Net-worth certificate from the chartered accountant with the UDIN number specified.
    • DP holding statement of the entity.

Ultimate Beneficial Owner (UBO)

If an individual has 10% or more of shareholding, capital or profits in the trust, the individual should be identified as an ultimate beneficiary and submit the UBO annexure (PDF).

In case no individual is identified, the senior managing official may be considered as the UBO, and the following documents are to be submitted:

  • A copy of the UBO annexure (PDF) with the UBO signature and the authorised person's seal and signature on the 3rd page if an individual holds 10% or more.
  • A self-attested copy of the PAN and address proof of those holding 10% or more.

Sample copy and signature guidelines

Check the filled sample equity form (PDF) , commodity form (PDF) , sample FATCA form (PDF) , sample UBO annexure (PDF) and sample annexures (PDF) for reference.

Refer to the signature guidelines (PDF) to learn how to sign all the forms.

In-person Verification (IPV)

As part of the mandatory IPV requirement for all brokers, the authorised person must complete the verification. The verification can be done online or offline. To learn how to do it online, see What is in person verification and why is it needed? To do it offline, the authorised person must visit a Zerodha branch office, or a representative of Zerodha would be required to visit the offices or residences of the client to complete the IPV procedure.

If the trust and the trustees' KYC are registered, the following documents are required to open a Trust account:

  • A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised trustee or signatory. The balance sheet must also be attested by a Chartered Accountant (CA) and have the CA's name, CA company name, member registration number (M. NO), UDIN, date and city. Refer to the sample balance sheet (PDF). The balance sheet has to be submitted every financial year after the account is opened.
  • If the trust is newly incorporated, a net-worth certificate from a Chartered Accountant with UDIN- Number specified and Income Tax Declaration (PDF) on the trust letterhead with the authorised trustee or signatory seal and signature.
  • A bank account proof of the trust for linking with the Zerodha account. The bank proof can be one of the following: A personalised cancelled cheque with the trust name printed, a bank statement or bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
  • Any one of the following income proof to activate the F&O and commodity segment:
    • Latest six months' bank statement or passbook of the trust account.
    • Latest year audited profit and loss statement.
    • Latest year Income Tax Return (ITR) acknowledgement.
    • Net-worth certificate from the chartered accountant with the UDIN number specified.
    • DP holding statement of the entity.
  • Authority Letter (PDF).
  • Annexure 4 (PDF).

Once all the documents are ready, e-mail the soft copy of all the forms to [email protected]. The forms will be reviewed in case any corrections are required. After the forms are reviewed, courier the documents and a cheque in favour of Zerodha Broking Limited for the following amount:

  • ₹500 towards Equity and Commodity trading account opening charges.

Courier all the documents to the following address:

Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

To learn the charges applicable to a trust account, see What are the account opening, brokerage and other transactional charges applicable to a Trust account at Zerodha?

Did you know? As per the CDSL guidelines (PDF), the nomination facility is available only for individual demat accounts. Therefore, non-individual account holders cannot add a nominee.