This is a detailed guide on how to complete the Institutional KYC application form. (The form can be found here.)
The first page of the KYC form will list the instructions as well as the documents that are to be provided by the applicant(s).
- Please refer here for more details on how to set up an institutional account
- Please refer here for more details on the Institutional Account types as well as the required documents
Page 2 (Section 1):
Please ensure that ALL the fields are filled up with the correct information. Failure to provide any of the required fields will result in full review of application to be delayed and potential for application to be voided. If an application is voided a new account must be signed up and a new KYC application form with requisite documents must be provided.
Please ensure that details of ALL Authorized Users are provided here. Additionally, please provide a Photo ID (front of ID will suffice) and Proof of Residence is provided for ALL Authorized Users. We will need it again even if you provided during the onboarding process previously. If your account has more than two Authorized Users you may add the additional person(s) to the Addendum section on page 8.
Page 4 and 5:
- Please provide the details of all Beneficial Owners with owns or controls 25% (10% for Money Services Businesses) or more of the equity interests of the Institution, including their ownership or control percentage.
- Please provide the details of one (1) individual with significant responsibility to manage, control or direct the legal entity, such as an executive officer or senior manager (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, or Treasurer) or any other individual who regularly performs similar functions.
- Please provide a Photo ID and Proof of Residence for ALL Beneficial Owners, Authorized Users, and/or persons with management control.
- Even if you provided an ID during the sign up portion of the onboarding process, you will need to provide all IDs again.
- If the institution's beneficial ownership structure includes intermediary entities, please provide a beneficial ownership chart, with percentage of ownership by each intermediary entity as well as individual beneficial owners of each intermediary entity
- If your account more than two Beneficial Owners you may add the additional person(s) to the Addendum section on page 9.
Page 6 (Section 4):
- Business Description - failure to provide a clear description of the business may result in a delay in the reviewing of your application
- Source of Funds for Trust/IRAs - Details of the original source of funds used to fund the IRA. Please select the source of funds from the drop down menu along with a brief description. For example if from salary, please provide a brief description with employer name, position/title, and industry
- When selecting your Wallet Withdrawal and Deposit range, please keep in mind this should be in line with the Proof of Funds submitted
Page 7 (Section 5)
Please ensure that the Completed KYC form is signed by a Beneficial Owner, an Authorized User, or a Person with Management Control as stated in Section 3. KYC forms that are signed by any other user will not be valid.
Please use the final two pages of the Institutional KYC form to add any additional Authorized Users or Beneficials Owners to your application.
Please submit the completed application form and as well as all relevant documents via the Institutional/Business Onboarding Document Submission form for our review. (Refer here for more details)