GovAxis maintains this Know-Your-Customer ("KYC") Policy in accordance with applicable U.S. law and international best practices. Identity verification is a legal and ethical requirement for company formation services. This policy explains who must complete KYC, what documents are required, and how the verification process works.
1. Purpose
KYC is the process of verifying the identity of individuals who seek to use our services. It is a cornerstone of our Anti-Money-Laundering (AML) framework and helps us ensure that GovAxis is not used to facilitate fraud, tax evasion, sanctions violations, or other illegal activities.
KYC is not optional. We are legally and operationally required to verify the identity of every customer before filing any formation documents or submitting any banking introductions on their behalf.
2. Who Must Complete KYC
The following individuals must complete full KYC verification:
- Every individual who creates a GovAxis account and submits a formation order
- Every beneficial owner holding 25% or more of the entity being formed
- Every officer or manager of the entity who will be listed in formation documents
- Any individual designated as a signatory on banking applications submitted through GovAxis
If your company has multiple members or owners, each individual meeting the 25% threshold must submit their own KYC documentation through the GovAxis portal. We cannot begin formation filing until all required KYC is complete.
3. Required Documents
All customers must provide the following:
Identity Documents
- One (1) primary government-issued photo ID (see Section 4 for acceptable types)
- One (1) selfie photograph taken at the time of application (not a stored photo)
Proof of Address
- One (1) document confirming your current residential address, issued within the last 90 days
- Acceptable documents: utility bill (electricity, water, gas, internet), bank statement, official government correspondence, or lease agreement
- The document must show your full legal name and full residential address
- P.O. Box addresses are not acceptable as proof of residential address
Business Information
- Intended company name
- Entity type (LLC or C-Corp)
- State of formation
- Description of intended business activities
- Ownership structure and percentage breakdown
4. Acceptable Identification
We accept the following as primary government-issued photo identification:
- International passport (preferred — accepted from all supported countries)
- National identity card (where issued by a recognized national government and includes photo, full name, and date of birth)
- Driver's license (accepted from EU/EEA countries, UK, Canada, Australia, New Zealand, and the United States)
Documents must be:
- Valid and not expired at the time of submission
- Undamaged and fully legible in all fields
- Submitted as a clear, high-resolution color photograph or scan — black-and-white copies are not accepted
- Unaltered — any signs of tampering will result in immediate rejection
GovAxis currently supports customers from most countries. We do not support customers who are nationals or residents of OFAC-sanctioned jurisdictions. See our AML Policy for the current list of sanctioned countries.
5. Beneficial Ownership
In accordance with the Corporate Transparency Act (CTA) and FinCEN beneficial ownership reporting requirements, GovAxis collects and verifies beneficial ownership information for all entities formed through our platform. A "beneficial owner" is any individual who:
- Directly or indirectly owns or controls 25% or more of the ownership interests of the entity; or
- Exercises substantial control over the entity (e.g., senior officer, director, or individual with authority over significant business decisions)
We collect the following for each beneficial owner: full legal name, date of birth, residential address, country of citizenship, and a copy of an identifying document (same standards as Section 4 above).
This information is used both for our internal KYC records and for the preparation of the BOI report filed with FinCEN (on applicable tiers).
6. Verification Process
Upon document submission:
- Documents are reviewed by our KYC team, typically within 1–3 business days.
- We verify that the documents are genuine, valid, and match the information provided in your account.
- We screen your name and details against applicable sanctions lists (see AML Policy).
- If documents are accepted, your account status is updated to "KYC Verified" and formation work begins.
- If documents are rejected, you will receive an email with the specific reason and instructions for resubmission.
Common reasons for rejection include: expired documents, blurry or illegible photographs, mismatched names, proof of address older than 90 days, or P.O. Box addresses.
7. Ongoing Monitoring
We may re-request KYC documentation in the following circumstances:
- Your identity document expires
- You request additional services (such as ITIN application) that require updated verification
- We have reason to believe your information has changed materially
- We are required to update our records by applicable law or regulatory guidance
Failure to provide updated KYC documentation when requested may result in suspension of services.
8. Grounds for Refusal
GovAxis reserves the right to refuse service, cancel an order, or terminate an account if:
- A customer fails to provide required KYC documentation within a reasonable time after request
- Identity documents cannot be verified as genuine
- A customer or beneficial owner appears on any applicable sanctions list
- We identify red flags indicating potential money laundering, fraud, or sanctions violations
- A customer provides false or misleading information at any point in the process
- The intended business activities appear to be illegal or harmful
Where a formation order is cancelled due to KYC failure prior to state submission, a refund of service fees will be issued per our Refund Policy. State fees paid before cancellation are non-refundable.
KYC questions or disputes? Email legal@govaxis.org.