LLP Bank Account Opening Documents Checklist in India

Done with legally registering as an LLP? The next step is opening a bank account. Gathering the right LLP account opening documents is crucial to streamlining your business operations. Entrepreneurs often focus on registration but overlook the importance of securing a dedicated bank account. 

Banks follow strict documentation guidelines set by the Reserve Bank of India, with slight variations across institutions. Preparing the necessary documents in advance ensures faster account activation and saves valuable time. 

This blog outlines the core documents banks typically request, so you can be ready with a complete submission.

Key Documents for LLP Account Opening: Detailed List

Banks need specific documents before issuing an account to confirm your legal and tax compliance after LLP registration. They also verify partners and authorized signatories.

Now, let’s take a look at the essential documents required for opening your LLP’s bank account.

1. Basic Account Opening Forms and Declarations

Every bank begins the process by collecting mandatory application and compliance forms. These forms capture details about the LLP, partners, and account operating structure.

Commonly required forms include:

• Current account opening form, filled and signed by designated partners
• FATCA or CRS declaration with accurate residency and tax details
• Beneficial owner declaration with photograph, where applicable

These documents establish the foundation for opening your LLP bank account.

2. PAN and Tax-Related Documents of the LLP

PAN verification remains compulsory for opening any LLP bank account in India. Banks do not proceed without a valid PAN issued in the LLP’s legal name.

You generally need to submit:

• PAN card copy or PAN allotment letter of the LLP
• PAN intimation letter if the PAN was recently issued

These are also the essential documents required to open a company bank account without exception.

3. Certificate of Incorporation and Form 18

Banks require copies of the Certificate of Incorporation and Form 18 to verify that your LLP is legally recognized and authorized to operate.

• The Certificate of Incorporation proves the LLP’s legal existence.
• Form 18 documents the conversion from a Private Limited Company or Unlisted Public Company to an LLP. This is a case-related document required during conversions. 
• Both documents validate the LLP’s authorization to conduct business.

These documents help banks confirm that your LLP complies with regulations and is in good standing.

4. Proof of Address of the LLP Entity

Banks verify the official address where the LLP operates its business activities. They accept multiple government or statutory documents issued in the LLP’s name.

Commonly accepted address proof documents include:

• GST registration certificate showing the LLP address
• Labour license, professional tax certificate, or factory registration certificate
• Shop and Establishment certificate or trade license
• FSSAI, drug license, excise license, or other regulatory approvals
• Importer-Exporter Code certificate and approvals issued by Special Economic Zones, Electronic Hardware Technology Parks, or Export Processing Zones (Optional: Varies by bank-to-bank).

These LLP documents for account opening confirm the authenticity of your business location.

5. Rural and Alternative Address Proof Documents

Banks provide flexibility for LLPs operating from rural or semi-urban areas. Local authority certificates help confirm business existence in such locations.

Banks may accept:

• Certificate issued by the Village Administrative Officer or the Panchayat Head
• Letter from Talati, Mukhiya, or Village Development Officer
• Certificate confirming business existence on official letterhead

These documents serve as support documents required to open an LLP bank account in rural or semi-urban areas.

6. Identity and Address Proof of Authorized Signatories

Banks must verify individuals who will operate the LLP bank account. Authorized signatories usually include designated partners or appointed representatives.

Each signatory must submit:

• One valid identity proof, such as PAN, Aadhaar, passport, or voter ID
• One valid address proof matching the submitted identity document
• Recent passport-size color photograph

Banks verify authorized signatories using identity and address proofs to ensure secure account management.

7. Beneficial Owner and Shareholding Documents

Banks must identify individuals holding significant ownership or control in the LLP. This step ensures transparency and compliance with anti-money laundering regulations.

Typically required documents include:

• Ultimate Beneficial Owner (UBO) list holding the prescribed ownership percentage
• PAN or identity proof of identified beneficial owners
• Address proof of beneficial owners

The above list remains essential as LLP account opening documents across banks.

8. LLP Agreement and Partner-Related Documents

Banks review internal LLP governance before granting account access. The LLP agreement explains partner rights, responsibilities, and authority structure.

Banks generally ask for:

• Signed LLP agreement executed among designated partners
• Updated list of designated partners
• Official status proof showing LLP as active

Banks require the LLP agreement to confirm the roles, responsibilities, and authority structure among partners before granting account access.

9. Utility Bills and Property-Related Proof

Banks may accept recent utility or property-related documents as address proof. These documents must meet the validity conditions specified by the bank.

Accepted documents may include:

• Electricity, water, landline, or internet bills in LLP name
• Property tax receipt issued by municipal authorities
• Registered ownership deed of business premises
• Lease or rent agreement with supporting landlord utility bill

These documents strengthen verification under the documents required for LLP account opening.

10. Resolution for Opening Bank Account of LLP

A formal resolution authorizes account opening and operation authority. Banks rely on this resolution to confirm internal approval and signatory powers.

The resolution generally includes:

• Approval for opening a current account in the LLP name
• Names of authorized signatories
• Mode of operation and signing authority

This document is also referred to as a board resolution or an LLP resolution for opening a bank account. 

11. In-Person Verification (IPV)

In-Person Verification (IPV) is a crucial part of the LLP account opening process. Banks require the authorized signatories to visit the branch for physical verification before the account is activated. This step ensures the authenticity of the individuals who will be handling the business’s financial transactions.

During IPV, the bank verifies the identity of the signatories, matching the submitted documents with the actual person.

12. Initial Funding and Account Opening Cheque

Most banks require initial funding to activate the current account. This amount varies based on bank policy and the account variant selected.

Banks may request:

• Initial funding cheque
• Account opening cheque from an existing current account

These documents complete the financial requirements under LLP resolution for opening a bank account.

Common Reasons LLP Accounts Get Rejected & Important Points to Remember

Banks may reject an LLP account opening for several reasons. Understanding these common issues can prevent delays:

• Address mismatch with MCA records
• LLP agreement not notarised or stamped
• Incorrect partner PAN details
• Missing beneficial owner declaration
• Inactive LLP status on the MCA portal

Ensure all documents are accurate and up-to-date to avoid rejection. By addressing these common issues in advance, you can increase the chances of a successful LLP account opening.

To ensure a smooth bank account opening process, always submit self-attested copies of all documents and keep the originals ready for verification. Here are a few tips:

Keep these tips in mind:

• Address proofs should be recent and valid
• Names and spellings must match official records
• Confirm the final document list with your bank beforehand

Preparing the necessary documents in advance ensures a smoother and quicker LLP bank account opening process.

If you’re ready to open your LLP bank account, completing the required paperwork is crucial for a smooth process. If you’re unsure or need assistance in preparing the necessary paperwork, contact RegisterKaro. We can help guide you through every step, from collecting the documents to ensuring compliance with bank policies. 

Conclusion

Opening a current account is a vital operational step after LLP Registration. Proper preparation of LLP account opening documents ensures faster approvals and smooth banking. Although documentation varies slightly, core requirements remain similar across banks. Always confirm requirements with your bank relationship manager before submission.

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