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Business Profile Identity Verification Documents

  • Updated

Venmo uses a national database to confirm your business entity or personal information when you create a business profile. Sometimes, this database is missing information or lacks your current name or address.

If we can't verify your information, we will ask you to send us documents that confirm your business entity. Below is a complete list of documents we can accept for registered businesses.

For business profiles created with an SSN or ITIN, we’ll verify your personal information instead. Learn more about the identity verification documents accepted for individuals.

Table of Contents

 

Identity Verification

Proof of Business Identity 

A document that confirms your business entity’s Employer Identification Number (EIN). The business name on this document must match the full business name on your Venmo account. 

Acceptable Proof of Business Identity documents: 

  • Copy of IRS Letter assigning EIN
  • Screen print of EIN assigned real-time during online application
  • Previous year’s business tax return, prepared and signed by 3rd party preparer
  • Current bank statement displaying truncated EIN (Dated within last 12 months)
  • Current credit card statement displaying truncated EIN (Dated within last 12 months)
  • Other government-issued documents displaying full business name and 9-digit EIN (Dated within last 12 months)

Unacceptable documents: 

  • Self-completed applications
  • Self-prepared tax documents
  • Expired, partial or obscured documents

Proof of Business Address

A proof of address document that confirms your business entity’s correspondence address. We can only verify physical addresses, not PO Box addresses. All documents must be dated within the last 12 months.

Acceptable Proof of Business Address documents:

  • Current utility or phone bill (from the past 12 months)
  • Current insurance or tax statement (from the past 12 months)
  • Government-issued business license/permit (must have been issued in the last 12 months)
  • Current Certificate of Good Standing (Active Status)
  • Current bank statement displaying full business name (from the past 12 months)
  • Current credit card statement displaying full business name (from the past 12 months)
  • Other registration document filed with Secretary of State (i.e. Certificate of Incorporation, Partnership Agreement, or comparable business registration document)

Unacceptable documents:

  • Envelopes
  • Invoices, receipts, all waybills
  • Expired, partial or obscured documents

Proof of Business Existence

A current document issued by the Secretary of State (or equivalent agency) showing that a business entity has complied with the applicable provisions of the laws of the state, is in good standing, and is authorized to transact for business. The business name on this document must match the full business name on your Venmo account.

Acceptable Proof of Business Existence documents:

  • Government-issued business license/permit
  • Current Certificate of Good Standing (Active Status)
  • Other registration document filed with Secretary of State (i.e. Certificate of Incorporation, Partnership Agreement, or comparable business registration document)

Note: All documents must be dated within the last 12 months.

 

Commercial Entity Agreement & Beneficial Owner Verification

Commercial Entity Agreement

The Commercial Entity Agreement is a requirement of our bank partners to process Visa card-funded payments for businesses under the card network rules. No additional documents are required to complete this agreement, but registered businesses will be asked to read and agree to the Commercial Entity Agreement in addition to providing Beneficial Owner information.

 

Beneficial Owner

For affected registered businesses, the following information is required for each individual that falls under the definition of Beneficial Owner:

  1. Full name
  2. Date of Birth
  3. Residential/Home Address
  4. Nationality
  5. Percentage of Ownership >25% (does not apply to Control prong)
  6. Social Security Number (or passport/ID number for non-US citizens)
  7. A Photo ID for each beneficial owner

Acceptable forms of photo ID:

  • U.S. passport
  • Driver license
  • U.S. government-issued ID
  • DHS card
  • Tribal ID card

Acceptable Proof of Address documents:

Note: Documents must display a date within the last 36 months

  • Utility bill
  • Credit card statement
  • Insurance document
  • Tax statement

 

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