What information and documents do I need to provide to open an account with Truly Financial? - Truly Financial

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What information and documents do I need to provide to open an account with Truly Financial?

Opening an account with Truly Financial is quite simple. Having the following on hand can help you complete the account application process in under seven minutes:

  1. Registered business name
    • if incorporated, this is your company name
    • if operating as a sole proprietor, this is your registered business name
    • if operating as a freelancer, this is your own name or a registered business name if you have one
  2. Trade name or Doing Business As (DBA) (if different from the registered business name)
  3. Company incorporation number – IRS (US)  or CRA (Canada) number
  4. EIN (US corporations only) number, if applicable
  5. Registered Business Address – address of incorporation
  6. Communication Address (if different from registered business address)
  7. Ownership details that include all owners/stakeholders having >= 25% ownership
  8. SSN number – for all US persons who are a large stakeholder or controlling party.
  9. In addition to the above you will need to provide:
    • Purpose of Account – confirm if the account is intended for operations, payment invoices/suppliers, repatriation of overseas earnings etc.
    • Source of Funds – select from the available choices
    • Industry category your company belongs to
    • Nature of Business (a brief description of the business you are engaging in)
  10. Verify Identity – Online ID verification is required for each Director holding 25%. or more and every Controlling party (e.g., CFO). This is done via email/sms sent to each individual.
  11. We may ask for the following information if we determine that
    • Company Financials or Bank Statement (only if requested by us after we receive your application)
    • Company Certificate of Incorporation and/or Articles of Incorporation (only if requested by us where we are not able to verify the Company information on our own).