DOCUMENTS REQUIRED FOR ACCOUNT OPENING OF PARTNERSHIP FIRM | Identification proof | Provide all of the following documents: - - PAN card copy of Partnership firm( with seal and sign of authorized partner/signatory)
- The latest partnership deed covers all the mandatory clauses.
- Individual PAN copies of all partners (self-attested)
- Any OVD proof for all the partners.
- Individual KYC forms (PDF) (self-attested)
- Copy of certificate of registration of Firm (for registered firms only).
| Bank proof | Anyone from the following: - Personalized cancelled cheque with the firm’s name pre-printed on it.
- Bank passbook/statement (should not be older than 3 months) with all the details clearly visible, such as holder Name, Bank logo and seal, IFSC code, MICR Code, and Account Number.
| Address Proof of Partnership Firm | Any of the following address proof in the name of the partnership firm with seal and signature of the authorized signatory or partner: - the latest transaction copy of the bank statement,
- utility bill,
- lease or rent agreement or
- registration certification
| Address Proof of Partners | Self-attested address proof of all the authorized partners/signatories as an Aadhar card (only masked Aadhar cards are allowed), voter ID, passport, or driving license. | Income Proof (to activate F&O segment)
| Anyone from the following: - Partnership Firm Bank a/c’s Passbook / Bank statement of the last 6 months.
- Latest Year audited profit and loss statement or
- Latest Year Income Tax return (ITR) Acknowledgement or
- Net-worth certificate from the CA (Chartered Accountant) with the UDIN number or
- DP holding statement of the Entity.
| Demat details (if opening a demat a/c) | - Mapping of Demat Account.
- Opening of Demat account
| Certificates and Declarations | - The UBO (Ultimate Beneficial Owner) declaration form needs to be filled to provide details of those having controlling ownership of more than 10%, along with complete KYC( self-attested PAN and Aadhar card of UBO).*
- Last 2-year Audit report.
- Partnership’s partner details
- Partnership Profit Sharing.
- Partnership Letter (should not be older than 6 months)
| FATCA Declaration | FATCA Declaration is Mandatory (PDF): As per current regulatory compliance, submission of the FATCA (Foreign Account Tax Compliance Act) declaration is compulsory for all account holders, including NRIs and residents. This ensures global tax transparency and is required at the time of account opening or updating KYC. To view Sample filled form of FATCA (PDF). |
Attachments: Jainam's forms | Jainam's Sample filled form | | |
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RELATED FACTS: - If the firm has been created for less than two years, then instead of the last two-year audit report, the concern can provide the net worth certificate from the chartered account with the UDIN number specified and income tax declaration on the partnership firm’s letterhead with the authorized partner's seal and signature.
- If the partnership account is being opened for the first time and the partnership deed has been modified, both the original (old) and the latest (revised) deeds must be submitted, as there is no limit on how old the previous deed is and submission of all relevant deeds is required.
- Only 3 partners are allowed to open a partnership account at Jainam.
- As per the regulations, a beneficiary account cannot be opened with a depository participant in the name of a partnership firm, and the same has to be opened as a joint account (maximum 3) in the names of the partners of the firm. Demat account can be opened with the partner’s name only.
- The trading a/c is always in the name of the partnership firm.
- For registered addresses, only those address proofs can be provided that are approved by any government authority. For example, registration certificates of the concern, GST registration documents, export-import certificates, drug licenses, or any other document that can be verified from a government website.
- correspondence address is where the documents will be sent. proof for correspondence address can be any of the following: the latest copy of the bank statement, utility bills, rent agreement (income tax acknowledgment Return), etc.
- To make changes in partners, first you must close your existing Demat account and then open a new Demat account under the new partner’s name.
If director details are already captured in the MOA and AOA and the company’s MCA status is active, then submission of Form DIR-12 and Form 32 is not mandatory for demat account opening.
ULTIMATE BENEFICIAL OWNER (UBO) - As per the master circular of SEBI about anti-money laundering dated 6th, June 2024(WEB) page no. 10/11,
- An individual is identified as an ultimate beneficiary if they have shareholding, capital, or profits of 10% or more in the partnership firm.
- In case no individual is identified, the senior managing official may be considered as the UBO.
- The following documents are to be submitted:
- UBO declaration form with the UBO signature and the authorized person's seal and signature.
- A copy of the PAN and address proof with self-attestation of those holding 10% or more.
- If an entity has more than 10% of the shareholding, capital, or profits in the firm, then the entity should identify as an ultimate beneficiary, and the following documents are to be submitted:
- UBO declaration form with the UBO signature and the authorized person's seal and signature of all the shareholders of such an entity holding 10% or more
- A copy of the PAN and address proof of, with self-attestation, all the shareholders of such an entity, those holding 10% or more.
- The latest shareholding pattern of such entity holding 10% or more, with the signature of the whole-time director or individual promoterS
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