KYC Checklist - What are the elements?

Posted on Apr 15, 2019 12:22:02 PM

Many industries are becoming heavily legislated around getting to know your customer from a legal perspective. KYC or Know Your Customer, forms part of the due diligence process for AML/CFT.

But just what are the main elements of a KYC document checklist?

 

Banner: What's in a KYC checklist?

  KYC Checklist - Know your customer to protect your business.

A basic KYC Checklist will include:

  1. Company trading name
    1. Address
    2. Status
    3. Company Number
    4. VAT/GST Number
  2. Details of present Directors/Partners/Proprietors
    1. Name
    2. Address
    3. Mobile Number
    4. Email
    5. VAT/Tax File/IRD Number
  3. Company Bank Details
    1. Name of the bank
    2. Branch Address
    3. Account Number
    4. IBAN/Swift Code
  4. Primary Contact
    1. Full Name
    2. Address
    3. Mobile Number
    4. Email
    5. VAT/Tax File/IRD Number

 

Supporting files for KYC

As part of the KYC process you will also need to request as verification copies of these KYC documents:

 

  • Certificate of Incorporation (for Companies, LLP, Trusts)
  • GST/company tax number
  • Confirmation of company address (Telephone bill/Electricity Bill)
  • Passport/Driver's License of Primary Contact and Directors
  • Tax file/IRD Number of Primary Contact and Directors

 

With FileInvite you can request a client completes a KYC document checklist and supplies supporting files in seconds

 

sample kyc checklist

 

As always, we recommend consulting a lawyer to ensure you are collecting the right KYC data and supporting documents for your industry

Auditors and legislative bodies are clamping down to capture illegal activities and ensuring purchases are lawful. Acronyms like KYC (Know Your Customer) CDD (Customer Due Diligence) and AML (Anti Money Laundering) have placed added focus on clearly verifying the identity of your customers and the source of their funds for purchases of property and businesses.

 

Try our KYC template

Completing a kyc checklist with FileInvite will ensure that you have all your supporting files in one system should you be required to provide them.

Our secure client portal also gives a good first impression. Users can complete and e-sign or digitally sign your KYC form, and upload supporting documents from any device. Start your trial today

 

Topics: KYC, KYC Checklist, KYC Supporting Files, KYC Form

Nick Allen

Written by | Head of Marketing at FileInvite