Executive identification information
To ensure the executive information is authentic and accurate, we need to verify the business ownership. We require verification for the controllers and owners of the company.
A controller is a natural person who holds significant responsibilities to control, manage or direct a company or other corporate entity (i.e. CEO, CFO, General Partner, President, etc). A company may have more than one controller, but only one controller’s information must be collected.
A beneficial owner is a natural person who, directly or indirectly, owns 25% or more of a company. A beneficial owner cannot be another company (or other corporate entity), nor a nominee owner.No information needs to be collected if there are no natural persons who own at least 25% of the company.
Executive documents accepted:
Driver’s license (US only)
Passport
State ID (US only)
Quality guidelines:
Allowed file types: PNG or JPG
Must be a color copy
Must be a photo (we don’t accept scanned images)
Must have a valid date
Must be legible
Must show all 4 corners of the document
Business information
We must verify the business owner to ensure the business information is authentic and accurate. We require verification of the company’s current business nature.
Business documents accepted:
EIN Letter (IRS-issued SS4 confirmation letter)
Filed and stamped Articles of Organization or Incorporation
Sales/Use Tax License
Business License
Certificate of Good Standing
Quality guidelines:
Allowed file types: PDF, PNG, or JPG
Must be a color copy
Must be a photo (we don’t accept scanned images)
Must have a valid date, if applicable
Must be legible
Must show all 4 corners of the document
All data collected will only be used during the verification process to maintain regulatory compliance.
How are Public Traded Companies verified?
Public traded companies are exempt from providing the beneficiary owners and can move forward without that information.
In this case, we require verification for the controller from their entity directly (not a parent one).
A controller is a natural person who holds significant responsibilities to control, manage or direct a company or other corporate entity (i.e. CEO, CFO, General Partner, President, etc). A company may have more than one controller, but only one controller’s information must be collected.
Bank Account Verification
For information about bank account verification, please see this article.
Questions?
Please don't hesitate to contact us at support@plane.com or use Plane's in-app chat.