Onboarding - Sole Proprietorship Checklist

The individual who holds a contractual relationship with your marketplace is a sole proprietor. A sole proprietor exclusively owns a business, and their business is registered in the country they are operating in.

In general, to onboard an individual and their sole proprietorship, you must collect:

• The name of your business

• The registered address, and the principal place of business if different from your registered address

• The country of governing law

• VAT number, if the business has a VAT registration

• Registration number, if available.

TIPS:

• We suggest that you do not bypass any of the steps as this will result in needing to add additional information.  (ie.  Social security will require the full number instead of the last 4 numbers and/or you may have to provide additional proof of identify.)

• Work closely with your office manager or accountant to make sure that you have all the necessary information needed to prevent delays in processing and/or having to add additional information.

• Be sure to have these items in addition to what is listed....

  • Business Tax ID number (this is the one from the state) XX-XXXXXXX

  • Owners last 4 of the SSN and home address.

  • Anyone with signatory or decision-making capability will also need the last 4 of the SSN and their home address

  • If you have online banking, you'll need to be able to sign in or have a recent bank statement in PDF format that can be uploaded.