How do I switch my DEMAT from IL&FS to Zerodha - LLP account?
To switch your DEMAT from IL&FS to Zerodha for an LLP account, follow the steps mentioned below:
- Download the IL&FS closure letter, print it out & fill it up. (Refer to this article to know how to fill the IL&FS closure form)
- Download, print, and fill up this Non-individual DEMAT form.
- Download, print and fill up this Board resolution, FATCA declaration.
- Along with these, submit PAN and address proof of Firm and Partners.
- Suppose an individual is a shareholder of the applicant, having more than 15% of the applicant's shareholding or capital or profits. In that case, the individual should identify as an ultimate beneficiary and is required to submit Annexure A.
- Suppose an entity is a shareholder of the applicant, having more than 25% of the applicant's shareholding or capital or profits. In that case, the entity should identify as an ultimate beneficiary and is required to submit Annexure A along with - self-attested copies of the KYC documents of the Whole Time Director/ Individual Promoters of such an entity holding 25% or more; AND shareholding pattern (with the company letterhead) of the entity holding 25% or more.
To check the KYC status, kindly follow the steps mentioned in this article.
If the Firm KYC is not registered, we require the following documents and the above documents.
- Non-individual KYC page.
- A copy of the Company's Balance Sheet for the last two financial years is to be submitted every year. (The balance sheet should have the seal and signature of the Authorised Signatory on all the pages)
- Copy of the LLP Agreement duly attested by a notary public (investment clause must be mentioned). The first 3 pages of the LLP agreement (on all pages if lesser) should have the seal and signature of the Authorised Signatory.
- Copy of Certificate of Registration (For Registered LLP Firms only) (Investment clause must be mentioned).
- Duly filled Annexures needed for an LLP (With the Firm's seal affixed and signed by the authorised partners).
- As part of the mandatory IPV requirement for all brokers, physical verification is required for non-individual accounts. Either a representative of the client would require to visit a Zerodha branch office, OR a representative of Zerodha would be required to visit the offices/residence of the client to complete the IPV procedure.
If any of the Partner's is a foreign national or an NRI, then the individual KYC required and documents (Pan, Indian & Overseas address proof) have to be notarised by Authorised officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrate, judge, or the Indian embassy/consulate general in the country that they
Note: Authorized Partner's signatures are required with a stamp on all the above documents except on the Partner's individual PAN & Address proof.
Send all of the documents to the address mentioned below -
#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore - 560078
Once we receive the forms, Zerodha will open your Demat account within 48 hours & your IL&FS DEMAT account will be closed in 15 working days.