Beneficial Ownership

Overview

A beneficial owner is a natural person who either owns a significant portion of a business or exercises substantial control over it. Beneficial ownership data is a critical component of regulatory compliance, particularly for Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. Each beneficial owner is uniquely identified and linked to a business and account, and includes detailed personal, identification, and ownership information.

This section defines the required fields and data specifications for beneficial owner records. A beneficial owner represents an individual with direct or indirect ownership or control over a business entity. Each record includes attributes necessary for identity verification, ownership validation, and compliance tracking.

Beneficial ownership data includes:

Unique identifiers for the owner, business, and associated account
Personal and government-issued identification details
Ownership percentage and control-related roles
Political exposure indicators and residency status
Address and contact information

These fields ensure that each beneficial owner is accurately identified, assessed, and reported in accordance with regulatory standards, supporting secure data exchange and risk management across our infrastructure.

Field Definitions

FIELDS	REQUIRED	DESCRIPTION	CHARACTER LENGTH	EXAMPLE
BENEFICIALOWNERID	Y	Unique ID	35	BENEOWN234
BUSINESSID	Y	Unique ID identifying a business associated with a customer.	20	BUS789012
FIRST NAME	Y	First name of the beneficial owner.	50	John
MIDDLE NAME	N	Middle name of the beneficial owner	50
LAST NAME	Y	Last name of the beneficial owner.	50	Doe
RESIDENCY STATUS	Y	If US Citizen then enter US , If Resident Alien then enter RA , If Non-Resident Alien then enter NA	4	US
SSN	Conditional	If residency status is US or RA then SSN value is required. If residency status is NA then SSN value is optional.Valid SSN required for Beneficial Owners residing in the US.	9	123456789
ID TYPE	Conditional	ID TYPE is optional if SSN is provided. ID TYPE is required if SSN is not provided. ID Type can be one of the following: DRIVERSLICENSENO (Driver's License Number) MATRICULACONSNO (Matricula Consular Number) PASSPORT (Passport) VISA (Visa) ALIENREG (Alien Reg. (Green Card)) STATEID (State ID) GOVERNMENTID (Government ID) OTHERID (Other Identification) USTAXID (US Tax ID)	16	SSN
ID NUMBER	Conditional	ID NUMBER is optional if SSN is provided. ID NUMBER is required if SSN is not provided. Government-issued identification value.	20	123-45-6789
ID ISSUE DATE	Conditional	ID ISSUE DATE is optional if SSN is provided. ID ISSUE DATE is required if SSN is not provided. Date when the identification was issued .	DATE(YYYYYMMDD)	20200101
ID EXPIRATION DATE	Conditional	ID EXPIRATION DATE is optional if SSN is provided. ID EXPIRATION DATE is required if SSN is not provided.		20200101
DATE OF BIRTH	Y	Date of birth of the beneficial owner.	DATE(YYYYYMMDD)	20200101
TITLE	Conditional	Only required for control persons. Position at the business, please use one of the following abbreviated options: CEO (Chief Executive Officer) COO (Chief Financial Officer) CFO (Chief Financial Officer) MGR (Managing Member) GP (General Partner) VP (Vice President) TR (Treasurer) OTH (Other) UNK (Unknown)	50	CEO
IS CONTROL PERSON	Y	Provide YES for this field. You can only provide one CONTROL PERSON PER BUSINESS.	3	YES
IS NATURAL AUTHORIZED PERSON	Y	Provide YES for this field. You can only provide one NATURAL AUTHORIZED PERSON PER BUSINESS.	3	YES
IS BENEFICIAL OWNERSHIP PERSON	Y	Answer YES or NO for this field.	3	YES
OCCUPATION	Y	Current position at company. Different from company title.	100	Director of Business Development and Finance
OWNERSHIP PERCENTAGE	Conditional	If YES was provided as a value in IS BENEFICIAL OWNERSHIP PERSON field Then ownership percentage must be provided. Percentage of ownership at the business. Must be a whole number.	3	25
FOREIGN SENIOR POLITICAL FIGURE	Y	Indicates if the person is a political figure. Please provide a "TRUE" Or "FALSE" answer.	5	TRUE
FOREIGN POLITICALLY EXPOSED PERSON	Y	Indicates if the person is politically exposed. Please provide a "TRUE" Or "FALSE" answer.	5	FALSE
ADDRESS LINE 1	Y	Valid address line 1 of the beneficial owner (no PO BOX, no special characters). Street address 1, City, and Country are required for all beneficial owners, regardless of residency status—including Non-Resident Aliens (NRA).	100	123 Main St
ADDRESS LINE 2	N	Valid address line 2 of the beneficial owner (if applicable).	100	Apt 4B
CITY	Y	City of the beneficial owner (no numeric values, no special characters).	50	New York
STATE	Conditional	Required for US Addresses only. State of the beneficial owner (no numeric values, no special characters).	2	NY
ZIP CODE	Conditional	Required for US Addresses only. Postal code of the beneficial owner (must be numeric for US addresses).	10	10001
COUNTRY CODE	Y	Country code of the beneficial owner. Use ISO 3166-1 Alpha-2 Country code standard.	2	US