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Account Opening

What are the documents required to open a society account?

A society account can only be opened offline, unlike resident individual accounts that can be opened online.

If the KYC of the society and the authorised signatory or member(s) are not registered, the following documents are required to open a society account:

Application form

Equity application form (PDF) and commodity application form (PDF).

Demat Debit and Pledge Instruction (DDPI) attached to the demat application form 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 about DDPI, see What is Demat Debit and Pledge Instruction (DDPI)?

FATCA Declaration

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

Supporting documents

  • A PAN copy of the society with the seal and signature of the authorised signatory or member(s).
  • Address proof in the society name with the seal and signature of the authorised signatory or member(s). Address proof can be any of the following: The latest month's transaction copy of the bank statement, utility bill, lease or rent agreement or registration certificate.
  • Self-attested individual PAN copies of all the authorised signatories or members.
  • Self-attested individual address proof of all the authorised signatories or members such as passport, Aadhaar, driving license etc. If an Aadhaar is being submitted as proof, ensure that a masked Aadhaar is submitted, To learn how to get the masked Aadhaar, see How to download masked Aadhaar?
  • Individual KYC form (PDF) filled and signed by the authorised signatory or member(s). The members have to sign without the stamp on individual KYCs and supporting documents.
  • Additional copy of PAN and address proof of the authorised signatories with the society's seal and signature.
  • The Memorandum of Association (MOA) of the society, with authorised signatory or member seal and signature on the first 4 pages of the MOA.
  • A true copy of the society rules and by-laws certified by the chairman or secretary.
  • A copy of the registration certificate under the Society Registration Act, with the seal and signature of the authorised signatory or member(s).
  • A copy of the balance sheet of the previous two financial years of the society with the seal and signature of the authorised signatory or member(s).
  • If the society is newly incorporated, then a net-worth certificate from the CA with the Unique Document Identification Number (UDIN) specified and income tax declaration (PDF) on the society letterhead with the seal and signature of the authorised signatory or member(s).
  • A bank account proof of the society for linking with the Zerodha account. The bank proof can be one of the following: A personalised cancelled cheque with the society name printed on it, 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:
    • The latest six months' bank statement or passbook of the society account.
    • Latest year audited Profit and Loss statements.
    • Last year's Income Tax Return (ITR) acknowledgement.
    • Net-worth Certificate from the CA with the Unique Document Identification Number (UDIN) specified.
    • DP Holding statement of the society.

Account opening annexures

  • Committee resolution on the society letterhead (PDF).
  • List of managing committee members on the society letterhead (PDF).
  • Annexure A on the society letterhead (PDF).

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.

Ultimate Beneficial Owner (UBO)

An individual is identified as an ultimate beneficiary if they have shareholding, capital or profits of 15% or more in the society. They are required to 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 15% or more.
  • A copy of the PAN and address proof with self-attestation of those holding 15% or more.

If an entity has more than 15% of the shareholding, capital or profits in the firm. In that case, the entity should identify as an ultimate beneficiary, and the following documents are to be submitted:

  • A copy of the UBO annexure (PDF) with the authorised person's seal and signature and signature of all the shareholders of such an entity holding 15% or more on the 3rd page.
  • A copy of the PAN and address proof with self-attestation of all the shareholders of such an entity holding 15% or more.

The latest shareholding pattern (PDF) of an entity holding 15% or more, with the signature of the whole-time director or individual promoters.

If the KYC of the society and the authorised signatory or member(s) are registered, the following documents are required to open a society account:

Application form

Equity application form (PDF) and commodity application form (PDF).

Demat Debit and Pledge Instruction (DDPI) attached to the demat application form 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 about DDPI, see What is Demat Debit and Pledge Instruction (DDPI)?

FATCA Declaration

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

Supporting documents

  • A copy of the balance sheet of the previous two financial years of the society with the seal and signature of the authorised signatory or member(s).
  • If the society is newly incorporated, then a net-worth certificate from the CA with the Unique Document Identification Number (UDIN) specified and income tax declaration (PDF) on the society letterhead with the seal and signature of the authorised signatory or member(s).
  • A bank account proof of the society for linking with the Zerodha account. The bank proof can be one of the following: A personalised cancelled cheque with the society name printed on it, 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:
    • The latest six months' bank statement or passbook of the society account.
    • Latest year audited Profit and Loss statements.
    • Last year's Income Tax Return (ITR) acknowledgement.
    • Net-worth Certificate from the CA with the UDIN specified.
    • DP Holding statement of the society.

Account opening annexures

  • Committee resolution on the society letterhead (PDF).
  • List of managing committee members on the society letterhead (PDF).
  • Annexure A on the society letterhead (PDF).

Sample copy and signature guidelines

Check the filled sample equity form (PDF), commodity form (PDF), sample FATCA form (PDF) and sample annexures (PDF) for reference. Refer to the signature guidelines (PDF) to learn how to sign the forms.

Need help? Call on 080 4680 5727 or create a ticket.

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 along with 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

It can take upto 72 working hours to open the account. To learn about the applicable charges, see What are the account opening, brokerage, and other transactional charges applicable to a partnership and society account at Zerodha?

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