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Accounts & Parties
General
- Are there certain restrictions or implications of the different types of accounts?
- Why is it required to have a Primary Party for each Account?
- Is there a way to combine two accounts together?
- What to do if I don't have a Postal Code?
- How to remove a duplicate party on TAPI?
- Which address should be included in the createAccount address field?
Accreditation Verification
- Which documents are required for accreditation verification?
- How can an investor that was previously approved by North Capital be re-approved for accreditation?
- How long does it take to accredit an investor?
- What qualifies as the “past 2 years” for income accreditation?
- Why are the rules for irrevocable trusts different from those for revocable trusts?
- Can revocable trust assets be counted towards net worth?
- Do North Capital’s accreditation letters expire?
- The investor does not yet have W-2s and/or does not have a tax return done for the previous year. What is needed in this case?
- How are property and real estate holdings counted towards an investor’s net worth for net worth accreditation?
- Why is a trust document needed to accredit a trust?
- Why do you need ownership information to accredit an entity?
- Why do you need a Certificate of Formation to accredit an entity? Do you need an official copy of the Certificate of Formation?
- How can investors be accredited based on professional status?
- How can investors be accredited based on a professional letter or attestation?
- How can foreign investors be accredited?
- How do I retrieve an Accredited Investor letter from TransactAPI?
- When should the "aiRequestStatus" be set to "Updated Letter Requested" or "New Info Added" for UpdateAiRequest?
- What are the AI Request Statuses and what do they mean?
- How do I test Accredited Investor Verifications in the sandbox environment?
- How do I contact the team that reviews the accreditation verification requests?
- What types of files are accepted for the Accreditation Verification checks?
- How can I get notified in real time when an AI request status has been updated?
- What is "Self Accredited" ?
- How do I get an updated accreditation verification letter for an account that has already had an AI request performed?
- What should be uploaded for licensed individuals for the accredited investor verification?
Compliance
KYC & AML
- KYC / AML for Foreign Investors
- Can a user use a US Tax ID or TIN instead of a SSN for KYC checks?
- Are there different KYC/AML check options?
- How are failed AML scenarios handled?
- How close of a match does a name need to be to fail the AML check?
- What does the account level KYC/AML mean?
- Can performAml be performed on both individual parties and entity parties?
- What does {'results': {'key': 'result.no.match', 'message': 'ID Not Located'} response for the KYC/AML check mean?
- Is there a limit to the amount of times I can run a KYC/AML check on a party?
- Do I need to update the KYC/AML date after a check has been run?
- Are the KYC and AML statuses updated automatically?
- Is KYC/AML done at the party level or at the account level?
- How can I test KYC/AML in the sandbox environment?
- How do I integrate the challenge questions for the enhanced KYC/AML check?
- When would you use the updateKycAml method?
- Is it required to AML check all parties within an entity?
- Can North Capital manually review entity documents?
- What do the KYC/AML Statuses Mean?
- What does the error "Already requested" mean for requestKycAml? How can a KYC/AML re-review be initiated via API?
- How do I initiate a KYC/AML check from the TransactAPI Dashboard?
- What are the KYC/AML requirements you may have for any custodian, trust, IRA, and self-directed IRA accounts? How does your system handle these type of accounts?
- Is SSN required for KYC/AML?
- Will KYC/AML work if the investor provides an APO(Army Post Office) box or FPO(Fleet Post Office)?
- Can performKycAml or performKycAmlBasic be run on an entity?
- What AML rules should I be most concerned about?
- Can a P.O. Box be used as an investor address?