> ## Documentation Index
> Fetch the complete documentation index at: https://docs.conduit.financial/llms.txt
> Use this file to discover all available pages before exploring further.
# Compliance Requirements
> A comprehensive list of required documents and checks for Know Your Business (KYB) & Know Your Customer (KYC) verification processes.
## **Before You Start**
Before starting the onboarding process, ensure you have the following ready:
**(Accepted formats: PDF, JPEG, PNG)**
### Minimum Required Documents
* [ ] Certificate of Incorporation or Registration
* [ ] Articles of Association / Memorandum of Association
* [ ] Tax Registration (EIN Letter or Tax Certificate)
* [ ] Shareholder Registry
* [ ] Proof of Registered Address
* [ ] Proof of Operating Address (dated within 90 days)
* [ ] Bank Statements (last 90 days)
* [ ] Corporate Resolution or Power of Attorney
### For Financial Institutions (additional)
* [ ] Regulatory License
* [ ] Flow of Funds Diagram
* [ ] Independent AML/Compliance Audit Report
### For Each Control Person
* [ ] Government-issued ID (passport, driver's license, resident card or national ID)
* [ ] Proof of Address (dated within 90 days)
* [ ] Liveness check (for authorized representatives only)
## **1. Business Documents (KYB)**
To verify a business entity, specific documents are mandatory. Please ensure you provide the correct document types as listed below.
### **Mandatory Requirements**
The following documents are explicitly required for **all** business verifications:
| Document Type | Code & Condition | Description |
| :--------------------------------------------------------- | :--------------------------------------------------------------------------------------------------------------------- | :---------------------------------------------------------------------------------------------------------------------------------------------- |
| Certificate of Incorporation / Certificate of Registration | `certificate_of_incorporation`, `certificate_of_registration`
*(Required)* | Document proving your company is legally registered in its country of incorporation. |
| Articles of Association / Memorandum of Association | `article_of_association`
*(Required)* | Articles of Association (AoA) or Memorandum of Association (MoA) highlighting the company's rules and regulations. |
| Tax Registration | `ein_letter`, `tax_certificate`
*(Required)* | Official IRS letter assigning the Employer Identification Number (US) or any other valid form of Tax Registration / Certificate (non-US) |
| Shareholder Registry | `shareholder_registry`
*(Required)* | Comprehensive record of all equity holders, their ownership percentages, and any special rights or restrictions associated with their holdings. |
| Proof of Registered Address | `proof_of_registered_address`
*(Required)* | Document that confirms your company’s registered legal address, as listed in official company registry filings. |
| Proof of Authorized / Operating Address | `proof_of_operating_address`
*(Required)* | Document (dated within last 90 days) showing your company’s operating location (utility bill, lease agreement, etc). |
| Terms of Service | `terms_of_service`
*(Conditional)* | Conduit's Terms of Service acknowledged or signed by the end customer is required to be uploaded for account opening. |
| Bank Statements | `bank_statement`, `proof_of_funds`
*(Required)* | Company’s three most recent bank statements, covering the last 90 days. |
| Authorization to act on behalf of Company | `corporate_resolution`, `power_of_attorney`
*(Required)* | Document confirming the applicant is legally authorized to act on behalf of the company (Board Resolution, POA, etc). |
| Proof of Regulatory Authorization or License | `financial_regulatory_license`
*(Required if `isFinancialInstitution` is `true`)* | Documentation confirming your company’s regulatory status (e.g., regulatory license, operating license). |
| Flow of Funds | `flow_of_funds`
*(Required if `isFinancialInstitution` is `true`)* | Diagram or document outlining the entire flow of funds for your customers and company. |
| Independent AML or Compliance Program Audit Report | `independent_aml_audit_report`, `compliance_audit_report`
*(Required if `isFinancialInstitution` is `true`)* | Independent AML or Compliance Program Audit reports. |
| Supporting documentation for institutional investors | `institutional_investors_shareholder_registry`, `cap_table`
*(Required if `hasInstitutionalInvestors` is `true`)* | Documentation verifying the ownership of any institutional investors holding **5% or more equity** (Shareholder registry, Cap table). |
***
### **Business Onboarding Form**
A comprehensive onboarding form is required to be filled out by the end customer. This form is used to assess the risk of the account and the customer.
#### **Business Classification**
| Question | Description | API Field & Condition | Options / Notes |
| :-------------------------------------------------------------- | :----------------------------------------------------------------------- | :--------------------------------------------------------------------------- | :-------------------------------------------------------------------------- |
| What is your company's legal structure? | Choose the legal form of your business. | `businessEntityType` (enum)
*(Required)* | [See Enum Values](/api-reference/customer-enums#param-business-entity-type) |
| When was your company legally incorporated or registered? | Enter official date from formation documents. | `registeredDate` (string)
*(Required)* | Format: `YYYY-MM-DD` |
| What industry best describes your company's core operations? | Helps assess business model and risk category. | `industry` (enum)
*(Required)* | [See Enum Values](/api-reference/customer-enums#param-industry) |
| Please describe your industry | Industry description when "Other" is selected. | `describeIndustry` (string)
*(Required if `industry` = `Other`)* | String |
| Does the company have a registered trade name (DBA)? | Trade name used different from legal name. | `hasDBA` (boolean)
*(Required)* | `true` or `false` |
| What is the DBA Name? | Please provide the registered DBA name | `businessTradeName` (string)
*(Required if `hasDBA` = `true`)* | String |
| Is your company publicly listed on a recognized stock exchange? | Whether your company is publicly listed. | `isStockExchangeListed` (boolean)
*(Required)* | `true` or `false` |
| Which StockExchange? | Which StockExchange (s) is the company listed in? | `stockExchange` (enum)
*(Required if `isStockExchangeListed`= `true`)* | [See Enum Values](/api-reference/customer-enums#param-stock-exchange) |
| Please specify the stock exchange | Custom stock exchange name when "Other" is selected. | `stockExchangeOther` (string)
*(Required if `stockExchange` = `Other`)* | String |
| What's the ticker symbol? | What's the company's ticker symbol? | `tickerSymbol` (string)
*(Required if `isStockExchangeListed`= `true`)* | String |
| What's your business email address? | Primary business contact email. | `email` (string)
*(Required)* | Valid email format |
| What's your business website? | Company website URL. | `website` (string)
*(Required)* | Valid HTTP/HTTPS URL |
| What's your business phone number? | Primary business contact phone number. | `phone` (string)
*(Required)* | E.164 format recommended |
| What is your company's tax identification number? | Tax ID or EIN number. | `taxIdentificationNumber` (string)
*(Required)* | String |
| What is your company's business entity ID? | Official business registration or entity identifier. | `businessEntityId` (string)
*(Required)* | String |
| Is your company a subsidiary? | Whether your company is a subsidiary of another entity. | `isSubsidiary` (boolean)
*(Required)* | `true` or `false` |
| Is your company currently operating? | Whether your company is currently in operation. | `isOperating` (boolean)
*(Required)* | `true` or `false` |
| What is your company's registered address? | Official registered legal address. | `registeredAddress` (object)
*(Required)* | Address object with `streetLine1`, `city`, `state`, `postalCode`, `country` |
| What is your company's operating address? | Primary physical operating address. | `operatingAddress` (object)
*(Required)* | Address object with `streetLine1`, `city`, `state`, `postalCode`, `country` |
| What is your company's mailing address? | Mailing address if different from registered/operating address. | `mailingAddress` (object)
*(Optional)* | Address object |
| What is your NAICS code? | North American Industry Classification System code (US businesses only). | `naicsCode` (string)
*(Required for US-based businesses)* | 6-digit code |
| How is your entity taxed? | Tax classification of your entity. | `entityTaxedAs` (enum)
*(Optional)* | [See Enum Values](/api-reference/customer-enums#param-entity-taxed-as) |
| What is your tax classification? | Additional tax classification information. | `taxClassification` (string)
*(Optional)* | String |
#### **Business Activity & Risk Profile**
| Question | Description | API Field & Condition | Options / Notes |
| :--------------------------------------------------------------------------------------------------------------------------- | :---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | :------------------------------------------------------------------------------------------------------------ | :-------------------------------------------------------------------------- |
| Terms of Service | Passing the acceptance of Conduit's Terms of Service (ToS) programmatically. | `termsOfServiceAcceptance` (object)
*(Required)* | Object requiring: `date`, `ipAddress`, `isAuthenticated` |
| What type of entity is your company? | The type of financial entity if applicable. | `entityType` (enum)
*(Optional)* | [See Enum Values](/api-reference/customer-enums#param-entity-type) |
| What is the purpose of this account with Conduit? | Intended use case(s). | `accountPurpose` (enum)
*(Required)* | [See Enum Values](/api-reference/customer-enums#param-account-purpose) |
| Please describe the goods or services you intend to pay for | Short description of payments. | `accountPurposeDescription` (string)
*(Required if `accountPurpose` = `Payments for Goods or Services`)* | String |
| Describe your business activities | Description of operations, products, services, and customer base. | `businessDescription` (string)
*(Required)* | String |
| What products or services does your company offer? | Categories reflecting business model. | `productsOrServices` (array of enums)
*(Required)* | [See Enum Values](/api-reference/customer-enums#param-products-or-services) |
| Does your company operate in or have exposure to high-risk industries? | Involvement or exposure to high-risk industries. | `highRiskIndustry` (enum)
*(Required)* | [See Enum Values](/api-reference/customer-enums#param-high-risk-industry) |
| Please provide additional details about your business activities | Relevant context on high risk activities. | `highRiskIndustryDetails` (string)
*(Required if `highRiskIndustry` != `None`)* | String |
| Is your company regulated, licensed, or providing financial services? | Includes money transmission, lending, etc. | `isFinancialInstitution` (boolean)
*(Required)* | `true` or `false` |
| What is the name of your regulatory authority? | Regulatory body that licenses or regulates your company. | `regulatorName` (enum)
*(Required if `isFinancialInstitution` is `true`)* | [See Enum Values](/api-reference/customer-enums#param-regulator-name) |
| Please List provide "other" Regulatory Body | If regulatory body is not listed in options. | `regulatoryAuthorityOther` (string)
*(Required if `regulatorName` = `Other`)* | String |
| License Number or Registration ID | Official registered license number. | `regulatoryLicenseNumber` (string)
*(Required if `isFinancialInstitution` is `true`)* | String |
| Does your company have an independent AML or Compliance Program Audit? | Boolean question about independent audit report | `hasIndependentAmlAuditReport.answer` (boolean)
*(Required if `isFinancialInstitution` is `true`)* | `true` or `false` |
| Please explain why an independent AML or Compliance Program Audit has not been conducted | Explanation for lack of audit. | `hasIndependentAmlAuditReport.explanation` (string)
*(Optional - displayed if answer = `false`)* | String |
| Please confirm if you are intending to obtain one | Expected timeline for audit. | `hasIndependentAmlAuditReport.timeline` (string)
*(Optional - displayed if answer = `false`)* | String |
| Do you certify that the financial accounts being opened will be used exclusively for your company’s own treasury management? | Certification that accounts will not be used to process or hold third-party or customer funds without written approval. | `certifiesOwnTreasuryUse` (boolean)
*(Required)* | `true` or `false` |
| Do you operate or transact on behalf of customer accounts, clients, vendors, contractors, or any other third parties? | Includes client funds, vendor payouts, escrow, pooled accounts. | `hasNestedFlows` (boolean)
*(Required)* | `true` or `false` |
| Flow of Funds | Description of fund flow. | `flowOfFundsDescription` (string)
*(Required if `isFinancialInstitution` is `false`)* | Financial institutions must upload a document instead. |
| Source of funds (primary driver) | Where funds flowing through the account primarily come from. | `sourceOfFunds` (enum)
*(Required)* | [See Enum Values](/api-reference/customer-enums#param-source-of-funds) |
| Please briefly describe the types of accounts or flows you manage | Please describe the nature of the flows you are facilitating for your customers (e.g. collecting funds from their end users, paying out to vendors, holding funds in escrow). | `nestedFlowDescription` (string)
*(Required if `hasNestedFlows` is `true`)* | String |
| In which countries do you anticipate conducting 20%+ of your business? | Key geographic business activity. | `keyGeographicBusinessCountries` (array of strings)
*(Required)* | Array of ISO 3166-1 alpha-3 country codes |
| Does your company have an advisor? | Whether your company has a financial or business advisor. | `hasAdvisor` (boolean)
*(Optional)* | `true` or `false` |
#### **Transaction Volume, Financials & Operations**
| Question | Description | API Field & Condition | Options / Notes |
| :--------------------------------------------------------- | :------------------------------------------------ | :--------------------------------------------------------------------------------------------------------- | :------------------------------------------------------------------------------------------------- |
| Anticipated average monthly transaction volume (USD) | Estimated monthly flow of funds. | `anticipatedMonthlyVolume` (number)
*(Required)* | Numeric value |
| Expected average daily balance (USD) | Estimated average daily balance. | `expectedAverageDailyBalance` (number)
*(Required)* | Numeric value |
| Estimated number of transactions per month | Approximate monthly transaction count. | `anticipatedTransactionsVolume` (number)
*(Required)* | Numeric value |
| Will your company use blockchain wallet addresses? | Whether crypto/blockchain addresses are used. | `usesBlockChainWallets` (boolean)
*(Required)* | `true` or `false` |
| Blockchain Wallets | List of blockchain wallet addresses. | `blockchainWallets` (array of objects)
*(Required if `usesBlockChainWallets` is `true`)* | [See Enum Values](/api-reference/customer-enums#param-blockchain-wallets-associated-platform-type) |
| Are you currently generating revenue? | Revenue status. | `isGeneratingRevenues` (boolean)
*(Required)* | `true` or `false` |
| If yes, revenue covers: | Revenue coverage as percentage of expenses. | `revenueCoverage` (enum)
*(Required if `isGeneratingRevenues` = `true`)* | [See Enum Values](/api-reference/customer-enums#param-revenue-coverage) |
| Please provide a brief explanation | Explanation for low revenue coverage. | `revenueCoverageExplanation` (string)
*(Required if `revenueCoverage` = `Less than 25% of expenses`)* | String |
| Does your company have institutional investors (VC or PE)? | Any VC, PE, or institutional investor owning ≥5%. | `hasInstitutionalInvestors` (boolean)
*(Required)* | `true` or `false` |
| How many months of financial runway do you currently have? | Duration company can operate without new capital. | `runwayDurationMonths` (enum)
*(Required)* | [See Enum Values](/api-reference/customer-enums#param-runway-duration-months) |
| Please provide a brief explanation for financial runway | Eg: upcoming fundraise. | `runwayDurationExplanation` (string)
*(Required if `runwayDurationMonths` is less than 12 months)* | String |
| What is your company's current cash on hand? | Estimated total liquid cash reserves (USD). | `cashOnHandUsd` (number)
*(Required)* | Numeric value |
## **2. Control Person Documents (KYC)**
Verification is required for each control person associated with the business.
### **Identity Verification**
Each control person must submit at least **one** of the following valid identity documents:
| Document Type | Code & Condition | Description |
| :------------- | :------------------------------------------------ | :---------------------------------------------- |
| National ID | `national_id`
*(Optional - one required)* | Government-issued national identification card. |
| Passport | `passport`
*(Optional - one required)* | Valid international passport. |
| Resident Card | `resident_card`
*(Optional - one required)* | Official residency permit or card. |
| Driver License | `driver_license`
*(Optional - one required)* | Valid driver's license. |
| Visa | `visa`
*(Optional - one required)* | Valid visa document. |
### **Proof Of Address**
**In addition**, each control person **MUST** also provide a `proof_of_address` document dated within the last 90 days, such as a utility bill, lease agreement, vendor invoice, or bank statement.
### **Role-Based Requirements**
Additional documentation and verification steps may be required based on the control person's specific role.
**Authorized Representatives:** If a control person is designated with the role `authorized_representative`, the following additional requirements apply:
2. **Liveness Check**: A liveness check is **required** to verify the physical presence of the authorized representative.
**Liveness Check** are required **in addition** to the standard identity document for Authorized Representatives.
***
## **3. Non-US Onboarding Requirements**
For businesses and control persons based outside the United States, specific additional information is required to ensure compliance with international regulations.
### **Business Requirements**
| Requirement | API Field & Condition | Description |
| :--------------------- | :----------------------------------------------------------------------------------------------- | :------------------------------------------------------------------------------------------------------------------------------------------------------ |
| US Bank Account Status | `hasUsBankAccount` (boolean)
*(Required for non-US businesses, Optional for US businesses)* | You must declare whether the business has an existing US bank account. Required for non-US businesses. |
| Denied US Bank Account | `deniedUsBankAccount` (object)
*(Required if `hasUsBankAccount` is `false`)* | You must disclose if the business has ever been denied a US bank account. If yes (`answer`=`true`), an `explanation` is required. |
| Business Audit History | `businessAuditHistory` (object)
*(Required)* | Must disclose any history of tax audits, regulatory sanctions, or law enforcement actions. If yes (`answer`=`true`), an `explanation` is required. |
| Owners Audit History | `ownersAuditHistory` (object)
*(Required)* | Must disclose any personal audit or sanction history for owners, directors, or officers. If yes (`answer`=`true`), an `explanation` is required. |
| PEP Involvement | `pepInvolved` (object)
*(Required)* | Must disclose if any owner, director, or officer is a Politically Exposed Person (PEP). If yes (`answer`=`true`), a detailed `explanation` is required. |
### **Control Person Requirements**
| Requirement | API Field & Condition | Description |
| :----------------- | :------------------------------------------------ | :------------------------------------------------------------------------------------------------------------------------------ |
| Tax Residency | `taxResidencyCountry` (string)
*(Mandatory)* | The field is **mandatory** for all non-US control persons. Must be a valid ISO 3166-1 alpha-3 code (e.g., `GBR`, `FRA`, `DEU`). |
| SSN Restrictions | `ssn`
*(Forbidden)* | Non-US control persons **must not** provide a Social Security Number (SSN). |
| Immigration Status | `immigrationStatus`
*(Forbidden)* | The field **must not** be populated for non-US control persons. |
Ensure that all country codes provided (e.g., for `taxResidencyCountry`, `nationality`) are valid **ISO 3166-1 alpha-3** codes (e.g., `GBR`, `FRA`, `DEU`).