Understanding and Completing HDFC Bank Extended KYC Annexure Form

Introduction

The Reserve Bank of India (RBI) has mandated all banks and financial institutions to conduct enhanced customer due diligence to prevent money laundering, terrorist financing, and other financial crimes. As part of this initiative, HDFC Bank has introduced an Extended Know Your Customer (KYC) Annexure Form.

Purpose of Extended KYC Annexure Form

The extended KYC annexure form aims to collect additional information from customers to better understand their financial activities, such as:

• Source of funds: Identifying the origin of the customer's income and wealth.
• Occupation and business activities: Gathering information about the customer's profession, business interests, and employment history.
• High-value transactions: Examining the customer's involvement in large financial transactions, including deposits, withdrawals, and investments.
• Risk assessment: Assessing the customer's potential risk level based on the information provided.

Who needs to submit the form?

The extended KYC annexure form is required for customers who meet certain criteria, such as:

• High-risk individuals: Individuals with a previously identified high risk of financial crime.
• Politically exposed persons (PEPs): Individuals holding or who have held prominent public positions or are closely associated with PEPs.
• Non-resident Indians (NRIs): Indian citizens residing outside India, except for those maintaining only NRO (Non-Resident Ordinary) accounts.
• High-value transactions: Customers who conduct frequent or substantial financial transactions, as defined by HDFC Bank.

Step-by-Step Guide to Completing the Form

Step 1: Obtain the form

The extended KYC annexure form can be obtained from any HDFC Bank branch or downloaded from the bank's website.

Step 2: Fill out the form

Provide all the requested information accurately and comprehensively. Use clear and legible handwriting or type the information.

Step 3: Submit the form

Submit the completed form along with the required supporting documents to your nearest HDFC Bank branch.

Required Supporting Documents

In addition to the completed form, you will need to submit the following supporting documents:

• Identity Proof: Copy of passport, driving license, Aadhaar card, or voter ID card.
• Address Proof: Copy of utility bill, bank statement, or property tax receipt.
• Financial Proof: Copy of salary slip, income tax returns, or bank statements.
• Occupation/Business Proof: Copy of business registration certificate, employment contract, or other relevant documents.

Consequences of Not Submitting the Form

Failure to submit the extended KYC annexure form may result in:

• Account freeze: HDFC Bank may freeze your account until the form is submitted.
• Restrictions on transactions: You may be unable to conduct certain financial transactions, such as large withdrawals or investments.
• Reporting to regulatory authorities: The bank may report you to the RBI or other regulatory bodies for non-compliance.

Tips for Completing the Form

• Be accurate and complete: Provide full and truthful information to avoid delays or complications.
• Use clear and legible handwriting or typing: Ensure that the form can be easily read by bank officials.
• Submit supporting documents on time: Delay in submitting supporting documents can hinder the verification process.
• Contact your relationship manager: If you have any questions or need assistance, do not hesitate to contact your HDFC Bank relationship manager.

Conclusion

Completing the HDFC Bank Extended KYC Annexure Form is a crucial step in meeting regulatory requirements and protecting against financial crime. By providing accurate and comprehensive information, customers can ensure that their accounts remain active and their financial activities are transparent.