Institutional Account Types
|Self-Directed IRA||A self-directed individual retirement account (SDIRA) is a type of individual retirement account (IRA) that can hold a variety of alternative investments normally prohibited from regular IRAs|
|Trust||A trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary|
|Solo 401k||A 401k is a company-sponsored retirement account that employees can contribute to|
|LLC / Corporation||An LLC is formed by one or more business people, as owners. A Corporation is formed by filing corporate organization documents (Articles of Incorporation or similar|
|Money Service Business||A money transmitter or money transfer service (Money Service Business) is a business entity that provides money transfer services or payment instruments|
|Investment Fund||An Investment Fund is a corporation or trust for investing the pooled capital of investors in financial securities|
|Hedge Fund||A Hedge Fund is a limited partnership of investors that uses high risk methods, such as investing with borrowed money, in hopes of realizing large capital gains|
|Other||If you do not see your business type above, please select other and we will work with you to identify your business type|
Please provide all documents in English or have official translations of the document in English.
|Document||Description||Is this Document required?
|Self Directed IRA||Trust/Solo 401k||LLC / Corporation||Money Services Business||Investment / Hedge Fund||Other|
|Paxos KYC Application Form *
||All Institutional account applications have to completed the KYC application form. (The form can be found here.) Please also refer here for a detailed guide on how to fill in and complete the form.||Yes||Yes||Yes||Yes||Yes||Yes|
|Organizational Documents||Certificate of Incorporation, Articles of Incorporation, Certificate of Formation, Articles of Organization, National/State Government Registry filings, or equivalent||Yes||No||Yes||Yes||Yes||Yes|
|Certificate of Good Standing||All Institutions that have been established for longer than 1 year must provide this document. This must be a document issued by a government authority and must be dated within the past year.||Yes||No||Yes||Yes||Yes||Yes|
|Evidence of Tax Identification Number / Registration Number||
Evidence of a TIN/Registration # issued by the Internal Revenue Service (for US entities) or relevant governing body (for international entities).
|Valid Passport / Driver's License / National ID for all Beneficial Owners, Authorized Users, and/or persons with management control||
You will need to provide this even if you provided this previously when you signed up for your Paxos account. For each person identified in Section 3 (pgs 3&4), please provide a Valid Passport / Driver’s License / National ID Scanned COLOR document.
|Proof of Residential Address for all Beneficial Owners, Authorized Users, and/or persons with management control||
You will need to provide this even if you provided this previously when you signed up for your Paxos account. For each person identified in Section 3 (pgs 3&4), please provide a scanned PDF, not older than 6 months (e.g., utility bill, cell phone bill, or bank statement)
|Proof of Funds - Recent corporate bank statement||Bank account statement or other equivalent documents clearing showing the ownership of the account under the Institution's name. This should be dated within the last 6 months. Please provide Proof of Funds that substantiate the request volume for trading.||Yes||Yes||Yes||Yes||Yes||Yes|
|Sample Invoice for the business||Customer Invoice Sample (If online business, please ensure you include website in the KYC form)||No||No||Yes||No||No||No|
|Operating Agreement||Signed copy of the Operating Agreement for your Self Directed or Roth IRA||Yes||No||No||No||No||No|
|Trust Agreement||Signed Copy of the Trust Agreement for your Trust||No||Yes||No||No||No||No|
|Explanation of Source of Funds||Details on the source of the funds that will be deposited into the Paxos account (e.g employment (role, company & salary), sale of property, company profits, customer funds,...) along with any supporting documents for this source of funds (e.g. payslip, bank statement, sales deed,...) where possible||Yes||Yes||Yes||Yes||Yes||Yes|
|Additional Documents for Investment/Hedge Funds||
- Prospectus, Offering Memorandum, or Private Placement Memorandum
-Fund Structure Chart/Organizational Chart (To show breakdown of shareholdings of the account holder, entities and relevant information of corporate shareholders (i.e. country of incorporation)
|Additional Documents for Money Service Business||
- State or Local MTL/MSB Licensing (US) or Evidence of local MSB/MTL licensing or registration, or evidence that such registration is not required (International)
*The Paxos KYC Application is only a requirement for institutions onboarding through Paxos Retail. This is not a requirement for institutions being onboarded via Paxos API's.