What documents are required to open an account for Limited Liability Partnership (LLP) at 5 paisa?

What documents are required to open an account for Limited Liability Partnership (LLP) at 5 paisa?

Limited Liability Partnership (LLP) accounts can be opened using offline mode. The specific documentation requirements for initiating a Limited Liability Partnership (LLP) account depend on the KYC/KRA status. To conveniently check the status, please visit the website www.cvlkra.com and select the "KYC inquiry" option. Enter the PAN number of the Limited Liability Partnership (LLP) and Partners. If the KYC status is "KYC REGISTERED" with a status date within the past 2 years, then the following supporting documents listed as numbers 1 to 7 are not necessary. The necessary documents for opening an Limited Liability Partnership (LLP)account with 5paisa are as follows:

Equity application form 

Supporting documents 
  1. PAN card copy of the LLP: This should be stamped and signed by the authorized partner or signatory 
  2. Address proof in the name of the LLP Firm: The address proof can be the latest transaction copy of the bank statement or passbook with the stamp and signature, utility bill, lease and license agreement, or registration certificate. It should be stamped and signed by the authorized partner or signatory.
  3. Self-attested PAN and address proof copy of all the authorized partner or signatory: The address proof can be Aadhaar, driving license, voter ID, or passport. To download a masked Aadhaar online, visit the website myaadhaar.uidai.gov.in/ and select the "Do you want a masked Aadhaar?" option while downloading Aadhaar.
  4. Individual KYC form: This form should be filled and signed by all authorized partners and signatory. The partners should sign without using a stamp on the individual KYCs and supporting documents.
  5. Additional copy of the PAN and address proof of the all authorized partners and signatory: These copies should have the Partnership firm seal and signature.
  6. Copy of the LLP agreement : The LLP agreement should include the investment clause and should be attested by a public notary. The first 3 pages of the LLP agreement (or all pages if less than three) should be stamped and signed by the authorized partners and signatory.
  7. Copy of the certificate of registration of the LLP is registered.
  8. Copy of the balance sheet of the latest two financial years: The balance sheet should be stamped and signed by the authorized signatory or partner and attested by a Chartered Accountant (CA). It should contain the CA's name, CA company name, member registration number (M. NO), UDIN, date, and city. Please refer to the sample balance sheet (PDF). The balance sheet needs to be submitted every financial year after the account is opened.
  9. Bank account proof of the LLP account: This can be a personalized cancelled cheaque with the LLP name printed, bank statement, or bank passbook copy clearly showing the bank account number, MICR, and IFSC code.
  10. Net-worth certificate from a CA (if the LLP is newly incorporated): The certificate should include the specified UDIN number and an income tax declaration (PDF) on the LLP letterhead with the seal and signature of the authorized partners or signatory.
  11. Board Resolution, the latest shareholding pattern, list of partners with specimen signature and photograph. These annexures and board resolutions must be provided on the LLP letterhead. (Format on pg 25 of account opening form)
FATCA Declaration: Foreign Account Tax Compliance Act (FATCA) declaration (Attached below).

Ultimate Beneficial Owner (UBO)

An individual is classified as the ultimate beneficiary if they possess 25% or more shareholding, capital, or profits in the company. The submission of the UBO annexure (form) is required. If a non-individual entity is identified, the senior managing official may be considered as the UBO, and the following documents need to be provided:

For Individuals:
  1. A copy of the UBO annexure signed by the individual holding 25% or more. (Format available in AOF form - Page 26).
  2. A copy of the PAN and address proof, self-attested by the individual holding 25% or more.
For Non-Individuals:
If an entity holds more than 25% shareholding, capital, or profits in the company, it should be identified as the UBO, and the following documents should be submitted:
  1. A copy of the UBO annexure, signed by the authorized partner or signatory of the entity holding 25% or more.
  2. A copy of the PAN and address proof, self-attested by the authorized partner or signatory of the entity holding 25% or more.
  3. The latest shareholding pattern on the company letterhead, signed by the authorized partner or signatory of the entity holding 25% or more. 
Additional documents required for opening an LLP account where one partner is a company:
  1. A board resolution is necessary to verify the authorized signatories if the company is KYC registered.
  2. KYC of the company and the promoters or directors of the company. (Format available in AOF form - Page 6 to 8).
  3. Pan card and address proof of the company.
  4. Self-attested PAN card and address proof of the authorized partners or signatories without the company stamp.
  5. The company's Memorandum Of Association (MOA) and Articles Of Association (AOA). The company's MOA should authorize the LLP to be a partner in the company and must bear the seal and signature of the authorized director or signatories.
  6. A copy of the balance sheet of the latest two financial years, signed by the authorized signatory or director, and attested by a Chartered Accountant (CA). The balance sheet must contain the CA's name, CA company name, member registration number (M. NO), UDIN, date, and city. Please refer to the sample balance sheet (PDF). The balance sheet needs to be submitted every financial year after the account is opened.
  7. If the LLP is newly incorporated, a net worth certificate from a CA along with an ITR declaration annexure (PDF) is required.
  8. Board resolution, latest shareholding pattern (PDF), list of directors Annexure (PDF), Annexure-A (PDF) with specimen signature and photograph. These annexures and the board resolution should be provided on the company's letterhead.
  9. Certificate of incorporation with the seal and signature of the authorized partners or signatories.
To activate the F&O and commodity segment, one of the following income proofs is required:
  1. Latest six months' bank statement or passbook of the LLP account.
  2. Latest audited profit and loss statement for the previous year.
  3. Income Tax Return (ITR) acknowledgement for the latest year.
  4. Net-worth certificate from a chartered accountant with a specified UDIN number.
  5. DP holding statement of the LLP.
Once you have prepared all the required documents, please email the soft copies of the forms to accountopening@5paisa.com. The forms will be reviewed, and if any corrections are needed, you will be notified. After the review process, please courier all the documents to the following address:

5paisa Capital Ltd.
Sun Infotech Park,
Road No.16V, Plot No. B-23
Thane Industrial Area, Wagle Estate,
Thane - 400604.