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Standard KYB Requirements

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Company Information

  • Country
  • Company name
  • Registration number
  • Company registration address
  • Company operations address
  • Type of entity
  • Date of registration
  • Website
  • Company email
  • Tax ID

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Documents

Accepted document types:
  • Statement of information
  • Excerpt from a state company registry
  • Articles and memorandum of association
  • Incorporation certificate
  • Certificate of incumbency
  • Certificate of good standing
Accepted document types:
  • Shareholder registry
  • Statement of information
  • Trust agreement
  • Excerpt from a state company registry
The document must list all shareholders with their ownership percentages (totaling 100%), be dated within the last 12 months, and signed by a director unless publicly available.KYC checks: Each UBO with 25%+ ownership and all company directors must complete KYC (Proof of ID + Proof of Address) and be individually approved before onboarding. If there is no UBO who owns 25%+, all UBOs with 10%+ ownership must be verified.KYB checks: Apply to all legal entities in the ownership chain. For each additional entity, the same information is required unless ownership can be verified through open sources.
Accepted document types (any that contains information about appointed directors):
  • Director registry
  • Trust agreement
  • Statement of information
  • Excerpt from a state company registry

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Business Questionnaire

SectionQuestionAnswers
Business informationIndustry typeAgriculture, Automotive, Banking and Financial Services, Construction and Real Estate, Cryptocurrency and Blockchain, Cryptocurrency Mining, DeFi, NFT Platforms, Crypto Payment Processors, Crypto Wallet Providers, Crypto Exchanges, Crypto Custody Services, E-commerce and Online Marketplaces, Education and Training, Energy and Utilities, Entertainment and Media, Gaming and Esports, Healthcare and Pharmaceuticals, Hospitality and Tourism, Information Technology and Software Development, Insurance, Legal and Professional Services, Logistics and Transportation, Manufacturing and Industrial, Metaverse Platforms, Mining and Natural Resources, Non-Profit and Charitable Organizations, Retail and Wholesale Trade, Telecommunications, Venture Capital and Private Equity, Casinos and Gambling, Money Service Businesses, Social Media and Networking Platforms, Crowdfunding Platforms, RegTech, Other
Business informationBusiness descriptionFree text
Business informationMain countries of operationDropdown country selection
Business informationLicensed or registeredYes / No
Business informationAML program requiredYes / No
Business informationEstimated annual revenueUp to 99,999 EUR, 100,000–999,999 EUR, 1,000,000–9,999,999 EUR, 10,000,000–49,999,999 EUR, 50,000,000–249,000,000 EUR, More than 250,000,000 EUR
Source of fundsSource of fundsBusiness revenue, Shareholder funds, VC or private equity, Sale of assets, ICO proceeds, Crypto related income, Loan proceeds, Other
Source of fundsCustomer funds detailsFree text
Planned activitiesPurpose and intended useReceiving income, Expenses, Payouts, E-commerce sales, Treasury management, Payment intermediary, Investments, Tax planning, Asset protection, Other
Planned activitiesEstimated monthly volume10,000–25,000 EUR, 25,000–50,000 EUR, 50,000–100,000 EUR, 100,000–250,000 EUR, 250,000–500,000 EUR, More than 500,000 EUR
Planned activitiesMonthly transaction countLess than 10, 10–25, 25–50, 50–100, More than 100
Planned activitiesSend funds on behalf of customersYes / No
Upload Source of Funds document is only required for Euro 3rd party payout.

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Associated Parties

Party TypeDescription
UBO (Ultimate Beneficial Owner)Always a natural person. Direct or indirect ownership above 25% (or 10% in high-risk cases).
DirectorIndividual(s) formally appointed as director(s).
RepresentativeAuthorized individual acting on behalf of the company.
ShareholderDirect ownership above 25%; always a legal entity.
Example: Business Customer → owned by Company A → John Smith owns Company A → Company A is Shareholder, John Smith is UBO.

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Required Information by Party Type

  • First name
  • Last name
  • Middle name
  • Date of birth
  • Email
  • Contact number
  • Nationality
  • Percentage of ownership
  • SSN (Social Security Number) for US citizens and US residents
  • Address details
  • Proof of Address (not older than 90 days)

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Identity Verification / Liveness Check

For business customers, there are typically 2–3 types of people to identify, depending on whether an authorized representative is appointed:
PartyRequirements
Director(s)ID collection + liveness check
UBO(s)ID collection (liveness check may be required in high-risk cases, or if also a director)
Authorized RepresentativeID collection + liveness check + power of attorney signed by the company’s director

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Enhanced KYB Due Diligence

Business customer risk is defined through a customer risk rating process, calculating the risk score based on different factors: geography, industry, use of product, expected activities, legal form, etc.
RequirementDetails
KYB InformationStandard KYB
UBO InformationIndividuals holding 10%+ ownership
Source of WealthFinancial document outlining the corporate entity’s ability to continue business

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Appendix

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Prohibited Industries

The following business activities are prohibited from using Iron’s services to ensure alignment with regulatory expectations and Iron’s risk appetite.
  • Adult entertainment and dating services (dating apps, matchmaking sites, coaching/advice providers)
  • Sexual services (anything which implies sex as a service)
  • Marijuana/Cannabis/CBD industry (including cannabis paraphernalia)
  • Production or trade in tobacco (cigarettes, cigars, e-cigarettes, vapes, vape liquids) - vape hardware not included
  • Production or trade in weapons and munitions, including explosives and nuclear weapons
  • Arms/Defense/Military
  • Private military/Security contractors
  • Car dealers
  • Antique brokers
  • Jewellery or watch dealers
  • Precious metal and/or gem dealers
  • Pre-paid cards
  • Religious organizations
  • Multi-Level Marketing (MLM) structures
  • Financial pyramid or Ponzi schemes, matrix programs, and other similar schemes
  • Unlicensed Forex/Binary Options
  • Donations/Charities/Societies/Non-profit organizations
  • Drugs, as well as chemicals used to manufacture synthetic drugs
  • Commercial activity which infringes on copyrighted material
  • Alternative medicines (e.g. homeopathy)
  • Financial services (loan lenders, payday loans companies, debt/credit consolidation companies, debt collection agencies)

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Business Ownership and Constitutional Documents

To comply with Iron’s KYB requirements, all businesses must provide clear, official documentation that reliably verifies their complete ownership structure, ultimate beneficial owners (UBOs), controlling individuals, and confirms the existence and ongoing operations of the legal entity. If the entity does not have individual beneficial shareholders, we will need to confirm the individuals who significantly control the entity instead, such as its directors and officers. Supported entity types:
  • Sole Proprietorships
  • Partnerships
  • LLCs & Corporations
  • Trusts
  • Nonprofits
  • DAOs
  • Cooperatives

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Required Documentation per Entity Type

  • Official sole proprietorship license or registration document clearly naming the sole proprietor and confirming active operation
  • Recent tax filings or official government-issued documents linking the proprietor to business operations
  • Partnership agreements officially certified or notarized, detailing partners and ownership shares
  • Officially issued partnership registration certificates clearly listing partners and their shares
  • Articles of Incorporation or Articles of Organization issued by the official business registry, clearly listing shareholders/members
  • Official shareholder/membership register or certified extracts from commercial registries clearly indicating owners and ownership percentages
  • Share certificates officially verified or notarized
  • Recent audited financial statements (for publicly traded or regulated entities), confirming the company’s operations and ownership
  • Official trust deed or certificate clearly identifying trustees, settlors, protectors (if applicable), and beneficiaries
  • Notarized trustee affidavit clearly verifying trustee identity, roles, and authorities
  • Official formation documents (e.g., Articles of Incorporation) clearly listing controlling individuals (e.g., directors or board members)
  • Government-issued or officially filed annual reports or governance documents confirming ongoing operations and key individuals
  • Official governance documents or independently audited membership agreements clearly outlining membership, control mechanisms, and operational status
  • Official formation documents clearly identifying cooperative members
  • Independently certified membership ledgers or agreements clearly indicating members and voting rights

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Document Verification Standards

All provided documents must be issued by an official governmental authority and, where applicable, certified by a notary public, lawyer, auditor, or similar independent professional, with Apostille certification where applicable.
  • Must be officially issued by governmental authorities
  • Must be verifiable online through an official registry or database (if not possible, must be independently certified)
  • Apostille certification or equivalent legalization required where applicable
  • Self-generated or internally-produced documents are NOT acceptable
  • Must clearly display the full legal name and registration code of the business entity
  • If ownership structure involves more than two layers, a clear organizational chart with ownership percentages is required
  • Must be recent (issued within the past three months)
  • Documents not in English must include certified translations

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Requirements for Regulated Entities

Entities that operate under regulatory supervision must provide additional documentation to confirm their licensing status and compliance with AML/CFT regulations.

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Regulatory Licenses and Authorizations

A valid license or authorization issued by the relevant financial regulator or supervisory authority permitting the entity to conduct its business activities. If the license or authorization is not publicly accessible online, it must be certified by the issuing authority or a notary public.

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AML/CFT Policy and Procedures

A copy of the entity’s internal AML/CFT policy, outlining its approach to:
  • Customer due diligence (CDD) and enhanced due diligence (EDD)
  • Transaction monitoring processes
  • Suspicious activity reporting procedures
  • Sanctions screening and PEP checks
  • The policy must be approved by senior management and aligned with the applicable jurisdiction’s AML laws and regulations
  • Licenses and authorizations must be verifiable online (if not, must be certified by the issuing authority, a notary public, or a licensed legal/audit professional)
  • The submitted AML/CFT policy must be an officially approved internal document (not a draft or template)