The process for updating or performing KYC for a minor depends primarily on their age and when they transition into adulthood.

During Minority

• Minors below 10 years of age: Accounts for children under 10 must be operated by a natural or legally appointed guardian, such as a father or mother. Because the guardian operates the account, the KYC documents of the guardian are required.
• Minors above 10 years of age: The RBI allows minors older than 10 to operate their savings or deposit accounts independently. In these instances, the minor can complete the KYC process themselves.

Re-KYC Upon Turning 18 (Transitioning to a Major) The most critical Re-KYC event for a minor occurs when they turn 18. At this point, their legal status changes, and a mandatory fresh KYC is required to convert the account from minor to major status.

To complete this transition, the following steps must be taken:

• Advance Notification: Banks are required to communicate with the account holder well in advance of their 18th birthday to notify them about the upcoming changes and documentation requirements.
• Fresh Documentation: The new adult must undergo a fresh Customer Due Diligence (CDD) process to ensure their records meet current standards. This involves submitting fresh photographs, a PAN card (or Form 60), and an Officially Valid Document (OVD) in their own name, such as an Aadhaar card, Passport, Voter ID, or Driving License.
• New Operating Instructions & Signatures: The bank must collect fresh operating instructions and a new specimen signature from the erstwhile minor for all future account operations.
• Balance Confirmation: If the account was previously operated by a guardian, the new adult is required to formally confirm the existing account balance when they take over independent control.