As part of our standard compliance and onboarding process, we’re required to complete Know Your Business (KYB) verification for your organization.
What is KYB?
KYB stands for Know Your Business. It’s a business verification process used to confirm that a company is legitimate, properly registered, and operating in compliance with legal and regulatory requirements.
KYB is the business equivalent of KYC (Know Your Customer), which is used for individuals.
Why do we require KYB for onboarding?
KYB helps protect our platform, our partners, and our customers. Here’s why it’s important:
Confirms the Client Is a Legitimate Business
KYB allows us to verify key business details such as:
Legal business name and registration
Business address
Corporate structure
Active operating status
This ensures your platform is onboarding a real, legally recognized company—not a shell entity or fraudulent operation.
Helps meet regulatory and compliance requirements
KYB supports compliance with regulations and standards including:
Anti-Money Laundering (AML) regulations
Sanctions screening
Financial and corporate governance requirements
For platforms that process payments or manage financial transactions, KYB is often a regulatory requirement.
What are some acceptable forms of KYB documentation?
Typically, two documents are required to complete KYB verification. Please provide one document from each list below.
List 1: Tax / EIN verification
Completed Form W‑9
IRS CP‑575 EIN Confirmation Letter
IRS Form 147C EIN Verification Letter
Federal tax return
IRS online portal screenshot
List 2: Business registration
Certificate of Incorporation, Formation, or Registration
Certificate of Good Standing (also called Certificate of Existence or Status)
Recent state registry extract or excerpt
Tip: Make sure your business name and EIN match exactly across all submitted documents. This helps avoid delays in verification.
In Simple Terms
KYB helps software companies answer one critical question before onboarding a client:
“Do we know who this business really is, and can we trust them to use our platform responsibly?”
By collecting and verifying this information upfront, onboarding becomes safer, smoother, and more compliant—for everyone involved.
Have any questions?
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