Generate UBO/Reg GG

PATCH User to create an ultimate beneficial ownership Reg_GG form.

This API call allows you to automatically create and upload an Ultimate Beneficial Ownership (UBO) and REG GG form as a physical document under the Business’s base document. This physical document is called REG_GG.

What is this form?
To help the government fight financial crime, Federal regulations require that we obtain, verify, and record information about the beneficial owners of businesses opening deposit accounts. Requiring beneficial owner & key individual information helps law enforcement investigate and prosecute crimes, such as terrorist financing, money laundering, tax evasion, corruption, fraud, and other financial crimes.

What information do I need to provide?
When you open a new deposit account (DEPOSIT-US) on behalf of a business, we ask for beneficial owner information. Beneficial owners are:

  1. Each individual, if any, who owns, directly or indirectly, 25 percent or more of the equity interests of the legal entity customer (e.g., each natural person that owns 25 percent or more of the shares of a corporation; and
  2. An individual with significant responsibility for managing the legal entity customer (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, or Treasurer).

The number of individuals that satisfy this definition of “beneficial owner” may vary. Up to ten individuals (but as few as zero) may need to be identified. Regardless of the number of individuals identified, you must provide the identifying information of at least one controlling person. In some cases, the beneficial owner is also the controlling person.

API ENDPOINT

https://uat-api.synapsefi.com/v3.1/users/:user_id/ubo

PATH PARAMETER

user_id :
required
string

The user ID of the user you wish to retrieve

BODY PARAMETER

signer.document_ID :
required
string

Document ID of individual completing the form

signer.relationship_to_entity:
required
string

Signer's title at the business

entity_info.document_ID :
required
string

Document ID of business opening DEPOSIT-US Account

entity_info.gambling :
required
boolean

FALSE if business does not engage in the internet gambling business

primary_controlling_contact.document_ID :
required
string

Document ID of business’s primary controlling contact. This is typically an executive officer or senior manager (ex: CEO or CFO) OR an individual who regularly performs similar functions

primary_controlling_contact.relationship_to_entity :
required
string

Primary controlling contact's title at the business

compliance_contact.relationship_to_entity :
required
string

Compliance contact's title at the business

compliance_contact.document_id :
required
string

Document ID of business’s compliance contact

entity_info.cryptocurrency :
required
boolean

FALSE if the business is not involved with crypto

entity_info.msb :
required
object

FALSE if the business is not registered as a Money Servicing Business

entity_info.msb.federal :
required
boolean

FALSE if the business does not have Money Transmission Licenses (MTL) in any states

entity_info.msb.states :
required
string

states that business has Money Transmission Licenses (MTL) in

entity_info.public_company :
required
boolean

FALSE if this not a public company

entity_info.registered_SEC :
required
boolean

FALSE if business is not registered with U.S. Securities and Exchange Commission (SEC)

entity_info.majority_owned_by_listed :
required
boolean

FALSE if business not majority owned (50% or more) by a public company

owners.document_ID :
required
string

Document ID of beneficial owner

owners.title :
required
string

Owner's title in relation to the business

owners.ownership :
required
string

Percentage of owner's ownership of the business ( only required if higher than 10%)

EXAMPLE REQUEST

PATCH /v3.1/users/5bda4a1314c7fa00a808f6a6/ubo HTTP/1.1
Host: uat-api.synapsefi.com
X-SP-GATEWAY: client_id_2bb1e412edd311e6bd04e285d6015267|client_secret_2bb1e714edd311e6bd04e285d6015267
X-SP-USER-IP: 127.0.0.1
X-SP-USER: oauth_1mtgLwhYHDVKop04XOEjyWJSsnQqZbGkfRF5ux9v|e83cf6ddcf778e37bfe3d48fc78a6502062fc
Content-Type: application/json

{
  "entity_info": {
    "cryptocurrency": true,
    "msb": {
      "federal": true,
      "states": [
        "AL"
      ]
    },
    "public_company": false,
    "majority_owned_by_listed": false,
    "registered_SEC": false,
    "regulated_financial": false,
    "gambling": false,
    "document_id": "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8"
  },
  "signer": {
    "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
    "relationship_to_entity": "CEO"
  },
  "compliance_contact": {
    "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
    "relationship_to_entity": "CEO"
  },
  "primary_controlling_contact": {
    "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
    "relationship_to_entity": "CEO"
  },
  "owners": [
    {
      "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
      "title": "CEO",
      "ownership": 95
    }
  ]
}
body = {
   "entity_info": {
      "cryptocurrency": true,
      "msb": {
         "federal": true,
         "states": ["AL"]
      },
      "public_company": false,
      "majority_owned_by_listed": false,
      "registered_SEC": false,
      "regulated_financial": false,
      "gambling": false,
      "document_id": "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8"
   },
   "signer": {
      "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
      "relationship_to_entity": "CEO"
   }
   ....
}

user.create_ubo(body)
const body = {
   "entity_info": {
      "cryptocurrency": true,
      "msb": {
         "federal": true,
         "states": ["AL"]
      },
      "public_company": false,
      "majority_owned_by_listed": false,
      "registered_SEC": false,
      "regulated_financial": false,
      "gambling": false,
      "document_id": "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8"
   },
   "signer": {
      "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
      "relationship_to_entity": "CEO"
   }
   ....
}

user.generateUboForm(body);
body = {
   "entity_info": {
      "cryptocurrency": true,
      "msb": {
         "federal": true,
         "states": ["AL"]
      },
      "public_company": false,
      "majority_owned_by_listed": false,
      "registered_SEC": false,
      "regulated_financial": false,
      "gambling": false,
      "document_id": "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8"
   },
   "signer": {
      "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
      "relationship_to_entity": "CEO"
   }
   ....
}

user.create_ubo(payload: body)
$entity = (object) [
   "cryptocurrency" => True,
   "gambling" => False,
   "document_id" => "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8"
];

$client->create_ubo($entity);
body = `{
   "entity_info": {
      "cryptocurrency": true,
      "msb": {
         "federal": true,
         "states": ["AL"]
      },
      "public_company": false,
      "majority_owned_by_listed": false,
      "registered_SEC": false,
      "regulated_financial": false,
      "gambling": false,
      "document_id": "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8"
   },
   "signer": {
      "document_id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
      "relationship_to_entity": "CEO"
   }
   ....
}`

data, err := user.CreateUBO(body)

EXAMPLE RESPONSE

{
  "_id": {
    "$oid": "5bda4a1314c7fa00a808f6a6"
  },
  "client": {
    "id": "5a4d5a7805f18c00240bb488",
    "name": "Platform Name"
  },
  "doc_status": {
    "physical_doc": "MISSING|INVALID",
    "virtual_doc": "MISSING|INVALID"
  },
  "documents": [
    {
      "entity_scope": "Arts & Entertainment",
      "entity_type": "M",
      "id": "dd09124227effbeae576fb18ff7859e508a89e08d6789c275ce027349d51e0c7",
      "name": "John Smith",
      "permission_scope": "UNVERIFIED",
      "physical_docs": [
        {
          "document_type": "GOVT_ID",
          "id": "acd8420c558d8fb88062359263213784cf0bc88557895f93bf42d5897f5c4fe0",
          "id_score": 0.95,
          "last_updated": {
            "$date": 1541033002528
          },
          "status": "SUBMITTED|REVIEWING"
        }
      ],
      "social_docs": [
        {
          "document_type": "ADDRESS",
          "id": "c615c761d68c578a98fde8e73c490df405ff5d5e34fc11f029660d7e9743df21",
          "last_updated": {
            "$date": 1541033003566
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "EMAIL",
          "id": "ec1bd13f97d4dcfa7ae28a18150e325f867d901f89545e0c0a257a532b106a27",
          "last_updated": {
            "$date": 1541033003479
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "DATE",
          "id": "2b52edae636ca2fbe12ab1b08a344d381dabc3d2b92844cf7a8d8b6052b26d8e",
          "last_updated": {
            "$date": 1541033003675
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "PHONE_NUMBER",
          "id": "b4eee6916fa7bca402af00e6b16e3c8d50737a7189dd81d4fd46ae2c2c0e1b36",
          "last_updated": {
            "$date": 1541033003533
          },
          "status": "SUBMITTED|REVIEWING"
        }
      ],
      "virtual_docs": [
        {
          "document_type": "SSN",
          "id": "ee596c2896dddc19b76c07a184fe7d3cf5a04b8e94b9108190cac7890739017f",
          "last_updated": {
            "$date": 1541033001461
          },
          "status": "SUBMITTED|REVIEWING"
        }
      ]
    },
    {
      "entity_scope": "Arts & Entertainment",
      "entity_type": "LLC",
      "id": "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8",
      "name": "Fake Business",
      "permission_scope": "UNVERIFIED",
      "physical_docs": [
        {
          "document_type": "GOVT_ID",
          "id": "7840958571593e69a4727205be0e1a6d0cdb99656a8ed96e6802de46f3b740b5",
          "last_updated": {
            "$date": 1541032460556
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "EIN_DOC",
          "id": "2a8bf6873eda6dc774747ac045f92408210211e388adf23faf38e254b1fa9c8c",
          "last_updated": {
            "$date": 1541032755544
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "REG_GG",
          "id": "63f2650014448a3f81d316b21204bbe6960881be227e5760a6897542e15e4a1e",
          "last_updated": {
            "$date": 1541033341748
          },
          "status": "SUBMITTED"
        }
      ],
      "social_docs": [
        {
          "document_type": "PHONE_NUMBER",
          "id": "fda60784d6375bc44edafaaeae149626c4c13dcb92e85a2a7a00eec2cdfd2b6f",
          "last_updated": {
            "$date": 1541032756436
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "ADDRESS",
          "id": "bce9d06d8d58a609c87a9cee2153e2cc1cee79d846121cd86907ba90433634ec",
          "last_updated": {
            "$date": 1541032756524
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "EMAIL",
          "id": "2c45158f6431ca874bbe82f63d5905567854dde4d8b81539944e5779e5eee741",
          "last_updated": {
            "$date": 1541032756429
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "DATE",
          "id": "b8e669e729f2dface01775c91668e35ed5b6340bcec291a6393b4ea8e6b0dfe9",
          "last_updated": {
            "$date": 1541032756584
          },
          "status": "SUBMITTED|REVIEWING"
        }
      ],
      "virtual_docs": [
        {
          "document_type": "SSN",
          "id": "7cb85697d26e2c1010266fd64a22afd396167ca630a4bad21a9e8fcff865bb1c",
          "last_updated": {
            "$date": 1541032459593
          },
          "status": "SUBMITTED|REVIEWING"
        },
        {
          "document_type": "TIN",
          "id": "a55cc12f46e8091f741b978d5fa556b2f8772a75007a82aae10a2fd810f644cb",
          "last_updated": {
            "$date": 1541032754521
          },
          "status": "SUBMITTED|REVIEWING"
        }
      ]
    }
  ],
  "extra": {
    "cip_tag": 1,
    "date_joined": {
      "$date": 1541032445648
    },
    "extra_security": false,
    "is_business": true,
    "last_updated": {
      "$date": 1541033341412
    },
    "public_note": null,
    "supp_id": "my_user_id"
  },
  "is_hidden": false,
  "legal_names": [
    "Fake Business"
  ],
  "logins": [
    {
      "email": "[email protected]",
      "scope": "READ_AND_WRITE"
    }
  ],
  "permission": "UNVERIFIED",
  "phone_numbers": [
    "901.111.1111"
  ],
  "photos": []
}

If the response is successful, then the UBO/Reg GG form will be automatically uploaded as a REG_GG physical document to the business user.

Generate UBO/Reg GG


PATCH User to create an ultimate beneficial ownership Reg_GG form.

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