For US businesses, the declaration of beneficial ownership is a requirement of the US Department of Treasury, which requires Yapstone to collect and verify specific information about the beneficial owners of your business (if your business is a legal entity e.g., incorporated entity, limited liability company, partnership) at the time of account application. The intent of the Beneficial Ownership Rule is to assist authorities in counteracting money laundering, tax evasion, and other financial crimes. The Beneficial Ownership document allows Yapstone to identify who controls a legal entity, removing the anonymity surrounding the ownership of properties.
You can download a Beneficial Ownership document to complete by clicking here.