Union Bank of India Account Opening forms – Other than Individual from Download
Union Bank of India Account Opening forms – Other than Individual from Download
The new document provided in the PDF is the official Union Bank of India Account Opening Form for Other Than Individuals (Form AOF-2) (account op… p. 1). It is a bilingual application (Hindi and English) used to establish corporate, institutional, or organizational bank accounts (account op… p. 1).
1. Account Details & Entity Constitution
- Entity Categories: The form supports account creation across a wide variety of legal structures including Sole Proprietorships, Partnerships, HUFs (Hindu Undivided Family), Trusts, Limited Liability Partnerships (LLPs), Public/Private Limited Companies, Section 25 Companies, Associations, Societies, Clubs, and Government Departments/Local Bodies (account op… p. 1).
- Signatory Profiles: Provides dedicated data slots to record names, permanent account numbers (PAN), and internal bank Customer IDs for up to four distinct authorized signatories (account op… p. 1).
- Corporate Address Logging: Tracks both communication addresses and formal corporate registered office endpoints specifically for Private or Public Limited entities (account op… p. 1).
2. Entity-Specific KYC Document Framework
The application enforces strict Know Your Customer (KYC) documentation mapped exclusively to the legal structure of the organization (account op… p. 2):
- Companies (Pvt. Ltd / Public Ltd / Sec 25): Requires the Certificate of Incorporation, Memorandum and Articles of Association (MOA/AOA), a Board of Directors’ Resolution or Power of Attorney (POA), an updated current list of directors, and central licenses if applicable (account op… p. 2).
- Partnerships & LLPs: Demands the Partnership Deed, official registration certificates (if registered), a formal partnership declaration, and the Designated Partner Identification Number (DPIN) specifically for LLPs (account op… p. 2).
- Trusts, Associations & Societies: Mandates the Trust Deed or internal bye-laws, registration certificates, a listing of trustees/managing committee members, and a formal managing committee resolution to open and operate the bank account (account op… p. 2).
- Sole Proprietorships: Enforces a dual-document check requiring any two regulatory records, such as Shop/Establishment licenses, Municipal/CST/VAT registration certificates, or Sales/Income Tax returns (account op… p. 2).
- HUFs: Requires an official HUF letter signed comprehensively by all co-parceners along with an executed declaration from the Karta (account op… p. 2).
3. Operational Settings, Turnover Metrics & Declarations
- Introducer Protocols: Features a formal introduction block where an existing Union Bank customer (holding an active account for more than 6 months) must verify and attest to the applicant’s identity, occupation, and physical address (account op… p. 3).
- Turnover & Remittance Forecasting: Requires entities to declare their expected annual transaction turnover across tiered slabs (ranging from under ₹10 Lakhs up to over ₹100 Crores) and flag anticipated inbound or outbound foreign remittances (account op… p. 3).
- Term Deposit Auto-Renewal Mandate: Incorporates an automated rollover authorization clause that empowers the bank to automatically renew fixed deposits upon maturity along with accrued interest, matching the original tenure unless specified otherwise (account op… p. 3).
- Mode of Operation: Restricts transaction control via explicit checkbox designations specifying if the account is to be operated Singly, Jointly, or strictly “As per Resolution” (account op… p. 4).
- Legal Undertakings & Defaulter Penalties: Signing entities issue an absolute declaration certifying that all funds Routed through the account originate from legitimate legal sources (account op… p. 4). It grants the bank absolute discretion to modify or suspend automated digital banking suites (such as corporate internet or SMS alerts) without notice and debit standard operational fees directly (account op… p. 4). Signatories must sign inside designated signature panels across their attached physical passport photos (account op… p. 4).
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