Financial Representative Information Requirements:

Financial Representatives are key individuals responsible for business operations and decision-making. This typically includes owners, officers, directors, and authorized signers who have operational control. Federal regulations require identification of all financial representatives or individuals who own 25% or more of your business. This "Know Your Customer" (KYC) requirement helps prevent money laundering and ensures regulatory compliance. 

01. Who Qualifies as a Financial Representative

Financial Representative Categories:

• Executive Officers: CEO, President, CFO, COO, Secretary, Treasurer
• Directors: Board members with decision-making authority
• General Partners: In partnership structures
• Managing Members: In LLC structures
• Authorized Signers: Individuals authorized to bind the company
• Sole Proprietors: Individual business owners

02. Who Must Be Identified as Beneficial Owners

25% Ownership Rule:

1. Direct Ownership: Individuals owning 25%+ of business equity
2. Indirect Ownership: Through trusts, other entities, or complex structures
3. Control Person: Individual with significant control (CEO, President, etc.) even if less than 25% ownership
4. Family Ownership: Combined family member ownership counts toward 25%

03. Required Financial Representative/Owner Information

Personal Details for Each Financial Representative or Owner:

• Full Legal Name: First and last name as on government ID
• Job Title/Role: Official position within the company
• Ownership Percentage: Percentage of business ownership
• Contact Information: Phone number and email address
• Home Address: Current residential address as listed on government ID
• Date of Birth: Full date of birth
• Social Security Number: Full 9-digit SSN

04. Financial Representative Documentation

Required Documents in Event Additional Clarification is Needed:

• Government-Issued Photo ID: Driver's license, state ID, or passport
• Proof of Authority: Corporate resolution, operating agreement, or partnership documents
• Resume or Bio: Professional background and qualifications
• Background Check Authorization: Signed consent for background verification
• Ownership Documentation: Stock certificates, operating agreements, or partnership papers