The Securities and Exchange Board of India, which serves as the local securities regulator, requires that clients with trading access to Indian exchanges update the financial documentation on record with their broker annually. This update requirement may be satisfied by submitting any one of the following:
- Bank statement showing the last six months activity (preferably of the bank account mapped to your IBKR account);
- Income Tax Return for the prior year;
- Recent liquid net worth certificate approved by a certified chartered accountant;
- Audited Balance Sheet (mandatory for accounts of non-natural persons).
IBKR will notify impacted clients of this requirement, generally with 60 days advance notice with instructions to return the documents to newaccounts.in@interactivebrokers.com (include ‘SEBI Annual update for Uxxxxxxx' (mention your account number) in the email subject line).
As this is a regulatory requirement, accounts which fail to comply are subject to restrictions.