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What are the documents required to open an HUF account with Arihant?
A Hindu Undivided Family (HUF) account can only be opened offline, unlike resident individual accounts that have an online onboarding process. You need to provide a duly filled and signed application form along with required documents.
All the documents should be originally attested with seal of HUF by the Karta. Here's a list of documents you need to open a HUF account:
- Application Form (pdf)
- One photograph of Karta
- PAN card of karta and address proof of karta
- PAN card of HUF
- Bank pass-book/bank statement in the name of HUF (with latest transaction page)
- Deed of declaration of HUF/ Co –Parceners’s List with seal & signature of karta
- Signature of KARTA is required under seal of HUF at all places of signature
- Proof of financial details if client wants to work in Derivatives, Currency and Commodity any one of following:-
a | Copy of ITR acknowledgement | b | Copy of annual accounts |
c | Copy of Form 16 in case of salary income | d | Net worth certificate |
e | Salary slip | f | Latest bank account statement for last 6 months |
g | Copy of demat account holding statement. | h | Any other relevant documents substantiating ownership of assets. |
In-Person Verification (IPV)
IPV ensures that the individual opening an account and the documents submitted are of the same person. It is mandatory for all brokers to do a IPV of karta before opening their trading and demat account. Hence, matches the submitted documents. Karta, like all brokers, must complete this mandatory verification process. This can be done online or offline. Your Arihant advisor will guide you how to do the in-person verification during the account opening process!
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