Institutional Account Types
| Institutional Types | Description |
| 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 |
Institutional Documents
Please provide all documents in English or have official translations of the document in English.
| Document | Description | Is this Document required? |
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| 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). |
Yes | Yes | Yes | Yes | Yes | Yes |
| 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. |
Yes | Yes | Yes | Yes | Yes | Yes |
| 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) |
Yes | Yes | Yes | Yes | Yes | Yes |
| 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) |
No | No | No | No | Yes | No |
| 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) |
No | No | No | Yes | No | No |
*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.