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Required Documents

This page outlines the documents required for stakeholders, applicants, and various business types to onboard a corporate customer registered in the United States.

Business details

The following documents are required as part of the Know Your Business (KYB) identification and verification process.

Entity typeManual KYBeKYB
  • Corporations
  • Limited liability companies (LLC)
  • Limited liability partnership firms
  • Sole traders
  • Unincorporated associations
  • BUSINESS_REGISTRATION_DOCN/A
    EstateLOAN/A
    General partnershipPARTNERSHIP_DEEDN/A
    Limited partnership
  • BUSINESS_REGISTRATION_DOCUMENT
  • PARTNERSHIP_DEED
  • N/A
    Public companyPROOF_OF_EXISTENCEN/A
    TrustTRUST_DEEDN/A

    Additional business documents:

    • CERTIFICATE_OF_GOOD_STANDING: This document is required when the address.registeredAddress.state field is DE or NJ for both Manual KYB and eKYB.
    • PROOF_OF_BUSINESS: This document has to be submitted in case website is not provided. Any document that will help us validate the business of the customer. Proof of Business can be any one of the following documents:
      • Any document depicting the product catalogue such as company brochures or marketing material or detailed business plan. [Preferred]
      • Contracts or business agreements or vendor agreements.
      • Photo of store, in case of brick and mortar store.
      • Invoice containing clear description of business operations (issued within 1 year) [Not preferred]
    • Ownership Chart This document should be provided if the customer is a multi-layered company. Refer Multi-layered ownership structure to understand if the customer is a multi-layered company. Corporate structure can be drafted by the customer and contains the names of the shareholders, along with the percent of shares held which will help us to establish the ultimate beneficial owner. See below for an example. You can use a similar template, if you don't have one. Use documentType = OWNERSHIP_CHART to add the corporate structure document.
    Ownership Chart
    • BUSINESS_REGISTRATION_DOCUMENT: Any of the following could be submitted as business registration document. See Verifying Ownership to understand the documents that can be obtained for different businessTypes.
      • Articles of Incorporation
      • Certificate of Formation
      • Company Bylaws
      • Board resolutions
      • Any Operating Agreement
    • CERTIFICATE_OF_GOOD_STANDING: State issued Certificate of Good standing

    Stakeholders

    The following documents are required as part of the Know Your Business (KYB) identification and verification process for stakeholders.

    important

    Only individual stakeholders, not corporate stakeholders, require documents.

    Based on the address country of the stakeholder, client should pass either E_KYC or MANUAL_KYC.

    MethodDocument (documentType)
    eKYC (address.country=US)The last 4 digits of or the entire SSN to be passed as documentNumber (NATIONAL_ID)
    Manual KYC (address.country is not US)
  • Passport details (PASSPORT)
  • Driver License (DRIVER_LICENSE)
  • National ID (NATIONAL_ID)
  • ⚠️ IMPORTANT

    Also see Acceptable documents for PROOF_OF_ADDRESS

    US residents

    US residents need to use the KYC mode E_KYC with their national ID for verification.

    Fields nameNational ID
    documentTypeNATIONAL_ID
    documentNumberYes (The last 4 digits of or the entire SSN)
    documentIssuanceCountryYes (valid value is US for E_KYC)
    documentExpiryDateN/A
    document.fileNameN/A
    document.fileTypeN/A
    document.documentN/A

    Non-US residents

    Every non-US resident need to pass kycMode=MANUAL_KYC and submit one of the following information.

    ⚠️ IMPORTANT

    If the document doesn't contain an address, you need to submit an Acceptable document for PROOF_OF_ADDRESS which can verify the address with documentType = PROOF_OF_ADDRESS.

    If this additional document is not submitted, the compliance agent will raise an RFI for stakeholderAddress to which you can submit the additional document via the Respond to RFI API.

    Field namePassportDriver licenseNational IDAdditional document if the first document doesn't contain an address
    documentTypePASSPORTDRIVER_LICENSENATIONAL_IDPROOF_OF_ADDRESS
    documentNumberYes (Passport number)Yes (DL number)YesNo
    documentIssuanceCountryYesYesYesNo
    documentExpiryDateYesYesNoNo
    document.fileNameYesYesYesYes
    document.fileTypeYesYesYesYes
    document.documentYesYesYesYes

    For a complete list of business document types, see the values obtained from Fetch corporate constantsAPI with fieldName as documentType.

    NOTE: Photocopies or scanned documents in black-and-white are not accepted for Passport, National ID, or Driver's License.

    Applicants

    Nium offers E_KYC, E_DOC_VERIFY, and MANUAL_KYC modes for applicant KYC in the US.

    • E_KYC is applicable for US residents. Only document details are required for eKYC and upload of document files isn't required.
    • E_DOC_VERIFY is applicable for non-US residents. Applicant needs to complete KYC using the redirect URL.
    • MANUAL_KYC required document details along with upload of document files.

    E_KYC

    US residents need to use the KYC mode E_KYC with their national ID for verification.

    Fields nameNational IDIf applicant is not an officer
    documentTypeNATIONAL_IDLOA
    documentNumberYes (The last 4 digits of or the entire SSN)N/A
    documentIssuanceCountryYes (valid value is US for E_KYC)N/A
    documentExpiryDateN/AN/A
    document.fileNameN/AYes
    document.fileTypeN/AYes
    document.documentN/AYes

    eDocVerify

    Every individual applicant needs to submit one of the following information when kycMode = E_DOC_VERIFY

    Documents to be uploaded in Onfido formAPI documents
  • Live Selfie with Passport/National ID submitted in the form presented by Onfido (eDoc verification vendor)
  • Proof of address as presented by Onfido
  • In case applicant is not an officer LOA should be submitted in the API

    Manual KYC

    Every individual applicant needs to submit one of the following information when kycMode = MANUAL_KYC.

    note
    • If the document doesn't contain an address, you need to submit an Acceptable document for PROOF_OF_ADDRESS which can verify the address with documentType = PROOF_OF_ADDRESS.
    • If this additional document is not submitted, the compliance agent will raise an RFI for applicantAddress to which you can submit the additional document via the Respond to RFI API.
    Field namePassportNational IDDriver licenseAdditional document if the first document doesn't contain an addressIf applicant is not an officer
    documentTypePASSPORTNATIONAL_IDDRIVER_LICENSEPROOF_OF_ADDRESSLOA
    documentNumberYes (Passport number)YesYesNoNo
    documentIssuanceCountryYesYesYesNoNo
    documentExpiryDateYesNoYesNoNo
    document.fileNameYesYesYesYesYes
    document.fileTypeYesYesYesYesYes
    document.documentYesYesYesYesYes

    For a complete list of personal document types, see the values obtained from Fetch corporate constantsAPI with fieldName as documentType.

    NOTE: Photocopies or scanned documents in black-and-white are not accepted for Passport, National ID, or Driver's License.

    Additional applicant documents

    • Letter of Authorization: In case applicant is not an officer, LOA is required. You can upload it during application submission or Nium will request it in RFI.
    • Proof of address: In case the POI document doesn't contain address, POA should be uploaded as a separate document with documentType=PROOF_OF_ADDRESS. Proof of address should be issued not more than 60 days old while submitting. Acceptable documents for Proof of address are:
      • Utility bills (gas, electric, internet, phone)
      • Financial records (bank statement, mortgage statement)
      • Life, health, or other insurance statement (auto, home, boat)
      • Medical records (doctor, hospital, or clinical)
      • Pay-slip
      • Government-issued letter