Business
Overview
A business represents a legal entity that holds an account and may be associated with beneficial owners. Business records contain essential information required to identify, verify, and manage the entity within our infrastructure, supporting both the EDAS and Card Issuing Sponsorship programs.
This section includes the required fields for business records. Each business is uniquely identified and includes key attributes that support compliance, account management, and secure data exchange.
Business data includes:
- Unique identifiers for the business and its associated account
- Legal and DBA names, tax ID, and business type
- Address, contact, and registration details
- Ownership and exemption status for beneficial ownership
- Account status and lifecycle dates
These fields ensure that each business is accurately represented and validated, enabling regulatory compliance, operational efficiency, and integration with related entities such as Accounts and Beneficial Owners.
Field Definitions
| Field | Required | Description | Character Length | Example |
|---|---|---|---|---|
| BUSINESSID | Y | Unique ID identifying a business. | 20 | BUS789012 |
| BUSINESSNAME | Y | Full business name specified. | 50 | Acme Corporation |
| DBABUSINESSNAME | N | Doing Business As Name. | 255 | Acme |
| BUSINESSTAXID | Y | Tax ID associated with the applicable business. | 15 | 98-7654321 |
| BUSINESSTYPE | Y | Select one of the following business types: limited-partnership, trust, sole-proprietorship, corporation, LLC, general-partnership, professional-association, government, non-profit, other | 50 | corporation |
| BUSINESS IDENTITY TYPE | Y | How was the business identified? See the Business Identification Values table below, for a list of acceptable answers. | 100 | Business License |
| ADDRESS LINE 1 | Y | Business address specified. | 100 | 456 Elm St |
| ADDRESS LINE 2 | N | Listing of necessary address designators. | 100 | Suite 300 |
| CITY | Y | Business city location. | 50 | San Francisco |
| STATE | Y | Business State Location. | 2 | CA |
| ZIP CODE | Y | Business ZIP code location. | 10 | 94107 |
| COUNTRY | Y | Business country code. Use ISO 3166-1 Alpha-2 Country Code Standard. | 2 | US |
| PRIMARY PHONE NUMBER | Y | Primary phone number associated with the business. | 15 | 1-415-555-1234 |
| EMAIL ADDRESS | N | Email address of the business contact | 100 | [email protected] |
| BENEFICIAL OWNERSHIP EXEMPTION | Y | Indicates if the business is exempt from providing beneficial owner information. Use "YES" if exempt, else "NO". | 3 | YES |
| BENEFICIAL OWNERSHIP EXEMPTION REASON | Conditional | If the value of YES is provided in BENEFICIAL OWNERSHIP EXEMPTION field, then this field is required to be populated with an exemption reason from the Beneficial Ownership Exemption Reason Values table. Select a value from the Exemption Reason Values table below. | 100 | PUBLICLY_TRADED |
| BENEFICIAL OWNERS EXISTS | Y | Determines if Beneficial Ownership information is expected. | 3 | YES |
| NO 25 PERCENT OR MORE BENEFICAL OWNERS EXIST | Y | If no beneficial owners with 25%+ ownership exist, input "YES", else "NO". | 3 | YES |
| NAICS PRIMARY CODE | N | A six-digit code representing the company’s main line of business. Multiple codes allowed, separated by commas. | 100 | 123456, 654321 |
Business Identification Values
| IDENTIFICATION VALUE | DESCRIPTION |
|---|---|
| Credit Bureau | Business credit report from an authorized bureau. |
| Business License | Government-issued license to operate legally. |
| Cert Articles of Inc | Certificate of Incorporation proving company formation. |
| Certificate of Limited Partnership | Legal document for forming a limited partnership. |
| Articles of Organization | Document establishing an LLC. |
| Government Entity Articles of Incorporation | Formation document for government-owned entities. |
| FICA Statement | Payroll tax compliance statement. |
| Filed Tax Return | Copy of filed tax return for verification. |
| Tax Determination Letter | IRS letter confirming tax-exempt status (e.g., nonprofit). |
| Tax Identification Number | EIN (U.S.) or foreign TIN for tax purposes. |
| GIIN | Global Intermediary Identification Number for FATCA compliance. |
| Foreign TIN | Tax ID issued by a foreign jurisdiction. |
| Financial Statements | Audited or certified financial statements. |
| On-Site Visit | Physical verification of business operations. |
| Prtnrship/Trust Agrmt | Legal agreement for partnerships or trusts. |
| SEC Filing | Public filings for listed companies (e.g., 10-K, 10-Q). |
| Secretary of State | State registry record confirming business registration. |
| Third Party Verifactn | Independent verification by an external provider. |
| Publicly Traded | Listed on a recognized stock exchange. |
| Regulated Financial Institution | Bank or financial entity regulated by federal/state authorities. |
| Legal Entity Identifier (LEI) | 20-character code for financial entities. |
| Other | Any additional supporting documentation relevant to verification. |
Beneficial Ownership Exemption Reason Values
| BENEFICIAL OWNERSHIP EXEMPTION REASON VALUE | DESCRIPTION |
|---|---|
| PUBLICLY_TRADED | Entity whose equity securities are listed on a U.S. national securities exchange or registered under Section 12/required to report under Section 15(d). |
| NON_PROFIT_COMPANY | Tax-exempt organization under IRC §501(c) (e.g., charities, religious groups) with state-filed organizational documents. |
| PUBLIC_ACCOUNTING | Public accounting firm registered with the Public Company Accounting Oversight Board (PCAOB) per Sarbanes-Oxley Act §102. |
| BANK_REGULATED | Bank as defined under the Federal Deposit Insurance Act or similar statute, regulated by a federal/state banking authority. |
| INSURANCE_COMPANY | Insurance company defined in the Investment Company Act of 1940, supervised by state insurance regulators. |
| FINANCIAL_INSTITUTION | Any financial institution regulated by a federal functional regulator (e.g., Federal Reserve, FDIC, SEC, CFTC). |
| FEDERAL | Any department, agency, or instrumentality of the U.S. federal government. |
| STATE | Any department, agency, or instrumentality of a U.S. state or interstate compact entity. |
| LOCAL | Any political subdivision of a state (e.g., county, city, municipality). |
| GOVERNMENT_ACTIVITIES | Entity exercising governmental authority on behalf of U.S., a state, or political subdivision (e.g., public utilities). |
| HOLDING_COMPANY | Bank holding company as defined in the Bank Holding Company Act of 1956. |
| SAVINGS_LOAN_HOLDING | Savings and loan holding company under the Home Owners’ Loan Act. |
| EQUIPMENT_FINANCE | Entity engaged in equipment financing/leasing, registered and regulated under federal law. |
| FINANCIAL_MARKET | Securities exchange, clearing agency, or other market utility registered under the Securities Exchange Act. |
| FOREIGN_FINANCIAL | Foreign financial institution supervised by a foreign regulator with standards comparable to U.S. banks/credit unions. |
| ISSUER_SECURITIES | Issuer of a class of securities registered under Section 12 or required to file under Section 15(d) of the Securities Exchange Act. |
| SEC_REGISTERED | Broker, dealer, or investment adviser registered with the U.S. Securities and Exchange Commission. |
| CFIC_REGISTERED | Entity registered with the Commodity Futures Trading Commission (e.g., futures commission merchant, swap dealer). |
| POOLED_INVESTMENT | Pooled investment vehicle (e.g., mutual fund, hedge fund) operated or advised by an SEC- or CFTC-registered institution. |
Updated 7 days ago