KYC Requirement for Savings or Current Account in Banks

KYC DOCUMENTS REQUIRED FOR ASSOCIATION ACCOUNTS
Documents or papers required to open a savings account in name of an association are:
  • Copy of the Certificate of the Registration (if registered)
  • By-laws of the Association 
  • Copy of the resolution authorising the members concerned to open and operate the account
  • Power of attorney
  • Copy of PAN 
  • Tax Exemption Certificate from Income Tax if applicable
  • Recent colour Photographs and officially valid documents (Identity and Address proof) in respect of the person operating the account
  •  Such information as may be required by the bank to collectively establish the legal existence of such an association or body of individuals
DOCUMENTS REQUIRED FOR COMPANIES REGISTERD UNDER SEC 25 OF THE COMPANIES ACT
  • Documents or papers required to open a savings account in name of a company registered under sec25 of companies act are:
  • Copy of Memorandum and Articles of Association 
  • Copy of Certificate of Incorporation
  • Copy of certificate of commencement of Business(In case of Public limited companies)
  • Copy of the resolution authorising to open and operate the Account incorporating the list of officials authorised to operate the account
  • Copy of PAN 
  • Tax Exemption Registration Certificate from Income Tax if applicable 
  • Photographs and officially valid documents (Identity and Address proof) in respect of the person operating the account
  • Power of Attorney, if granted to its managers, officers or employees to transact business on its behalf.
DOCUMENTS REQUIRED FOR HUF ACCOUNT 
  • Documents or papers required to open a savings account in name of an HUF are:
  • Prescribed Joint Hindu Family Letter signed by all the adult coparceners. Name and date of the Birth of minor coparceners to be mentioned.
  • PAN Card /Form 60/61 in the name of HUF 
  • Photographs, Identity and Address proof of the Karta.
DOCUMENTS REQUIRED FOR SOCIETY ACCOUNT 
Documents or papers required to open a savings account in name of a society are:
  • Copy of Rules and Byelaws of the Society
  • Copy of Registration certificate from the office of the Registrar of Co-operative societies
  •  List of office Bearers
  •  Copy of the resolution passed by the society in accordance with byelaws, authorizing the opening of account with the bank and appointing operators
  •  Copy of PAN card/ Form 60 
  •   Tax Exemption Certificate from Income Tax, if applicable 
  •   Copy of Power of Attorney granted to its operators
  •   Recent colour Photographs and officially valid documents (Identity and Address proof) in respect of the person operating the  account.
DOCUMENTS REQUIRED FOR TRUST ACCOUNT
Documents or papers required to open a savings account in name of a trust are:
  • Copy of the Rules or Byelaws/ Trust Deed (If registered, Certificate of Registration) 
  • A copy of the resolution passed by the executive committee or a competent body regarding persons authorized to open and operate the account must be taken
  •  Power of attorney
  •  Copy of PAN card/ Form 60 
  •  Tax Exemption Certificate from Income Tax , if applicable 
  •  Recent color Photographs and officially valid documents (Identity and Address proof) in respect of the person operating the account.