For unregistered partnerships or nonprofits, go to the Settings Checks page of your dashboard and click the first tab in your division. Then click on the option under “Business Number” if you don`t have one available. If you don`t have this option on your dashboard, please contact Stripe Support. If you or your users are unsure of their entity type, the information may be found in that entity`s incorporation or tax documents. Even after Stripe verifies a user, platforms need to monitor and prevent fraud. Platforms should not rely on Stripe`s verification to meet independent legal requirements for know-your-customer or verification. For all types of businesses, except individuals, you can further classify your user`s business by identifying its legal (business) structure. A business structure describes the details of a business unit, such as day-to-day operations, tax burden, responsibility, and organizational pattern. You can classify it by using company[structure] in the Account object.

See the list of requirements for different types of companies by country. If you know what information needs to be collected, you can learn more about managing identity verification with the API. The Connect Platforms collect the required information from users and make it available to Stripe. This may include information about the legal entity and personal information about the company`s representative, as well as those who own or control the company. Stripe then tries to check. In some cases, Stripe may verify an account by confirming some or all of the information entered. In other cases, Stripe may request additional information, such as a scan of a valid government-issued ID, proof of address, or both. If your business was acquired by a legal entity in another country, the process is different.

For more information, see Company acquired by a legal entity in another country. You can also find the list of document types on the Settings Revisions page of your dashboard. Click the first tab in your division. A list of accepted documents for your country is displayed at the bottom right. The specific KYC information depends on the type of business entity. You are: Stripe recommends using Connect Onboarding. If you decide to perform account verification yourself, read on to learn more about the options of the verification process, translating API fields in businesses and individuals, and locating information requests. You should also read the Managing Identity Verification with API guide to learn how to programmatically provide information and handle requests. If this information is spread across multiple pages of your document, please upload a PDF containing all the relevant pages and each country has its own requirements that accounts must meet in order for Stripe to disburse funds to individuals and businesses. These are usually referred to as Know Your Customer (KYC) requirements. Regardless of the country, Stripe must globally meet the following requirements: This page explains the verification options to meet Stripe`s KYC requirements, but the easiest way to manage verification is to integrate Connect Onboarding, which allows Stripe to support the complexities of basic KYC obligations associated with an account`s capabilities.

Handling the details of account verification is initially complex and requires vigilance to keep up with ever-changing regulatory changes around the world. Verification requirements for connected accounts vary from account to account, depending on the following: The following table describes the different business structures that you can use to classify a business. For more information about requirements, see About verification requirements in the United States. For example, instead of asking your users for a tax ID number, regardless of country, ask for the following: Documents must be valid and representative of the current registration You need to collect and verify certain information to enable fees and payments. For example, for a business in the United States, you need to collect the following: The email address listed as the Stripe account holder You can find country-specific recommended labels as well as other required verification information. As a platform, you need to decide whether you want to capture the required information from your pre-connected accounts or incrementally (incremental integration). Some advantages and disadvantages of each method are listed below. When you provide this information to Stripe, you get the most accurate business classification for compliance purposes. Although this information is not required, it may indicate that you need to collect fewer integration requests. For example, owner information is required for private companies, but not for public companies. By default, a company is considered private if no information about the company [structure] is provided.

Business information displayed on receipts sent to your customers. To determine which flow to create, review the information required for the countries where your connected accounts are located. While Stripe tries to minimize the impact on users, keep in mind that requirements may change over time. Some variable thresholds – usually when a certain amount of time has passed or a certain volume of fees has occurred – you may need to collect and verify additional information. Stripe will temporarily suspend fees or payments if information is not provided or verified in accordance with required information thresholds. Additional information may include, for example, verification of the company`s tax identification number. The handle and phone number that appear on credit card statements From there, you can change the following information in your account settings: Company representative or owner information (Note: Do not send new owner details to Stripe; Stripe allows editing in your Stripe account directly for this information) Connect platforms can work with three different types of accounts. If you support users in multiple countries, consider internationalization and location when requesting information. Creating a user interface that uses not only the user`s preferred language, but also the right localized terminology allows for a smoother onboarding experience.

If you are the current owner of a Stripe account and want to transfer ownership of your account to someone else, such as if you are selling or have acquired your business, you should first contact Stripe Support to confirm which, if not all, of the following information will change: .