When initially navigating through the payments onboarding process, you will likely be asked for documents to validate you personally, or your business.
These items are being requested for security and risk management purposes. After all, you will be moving large amounts of money through the platform, so our payment processor wants to make sure your account is extremely secure and complies with anti money laundering laws.
You will not be asked for everything on the list below. However, we want to make you aware of what could be asked for during onboarding, so there are no surprises:
KYC (Know Your Customer):
Drivers License
SSN card
Utility bills to verify home address (rare)
KYB (Know Your Business)
SS-4 to verify Tax ID/EIN
Bank statements (up to 6-months)
Voided business check
Invoices to verify ticket amounts
Previous processing statements
Business financials
Profit & Loss Statement with matching Balance Sheet
Tax Returns (must include completed Schedule L)
Anti-Money Laundering (primarily requested to tie the signer to the business or to verify the legal business address). Typically only ONE of the following is required:
Articles of Incorporation
Government Issued Business License
Signed Articles of Association
Signed Limited Liability Corporation Agreement
Signed Limited Partnership Agreement (rare)