"Additional Information Required" Banner
If you see the banner in your landlord portal in the Payments section, with the following prompt:
"Additional Information Required- We need you to update and/or add more information to enable payments." Like this:
This means that Stripe, our payment processor, is requesting additional information to verify your account.
This is due to the KYC, known as Know Your Customer, which requires Stripe, our payment processor, to gather and maintain information about all account holders. These regulations, set by authorities, aim to prevent misuse of the financial system.
So why does this matter? KYC is an important part of ensuring the safety and security of financial transactions. By verifying the identities of account holders, Stripe can help prevent fraud, money laundering, and other illegal activities. This not only protects our platform, but also helps to protect our users.
If you see this prompt, it means that Stripe needs more information from you in order to comply with KYC regulations. This may include personal information such as your name, address, and government-issued identification. Rest assured that all information collected by Stripe is kept secure and confidential.
To provide the requested information, simply click on the banner and follow the prompts. Once you have completed the necessary steps, your account will be verified and you can continue using our platform without any interruptions.
If you have any questions or concerns about this process, please don't hesitate to reach out to our customer support team. We are here to help and ensure that your experience with our platform is as smooth and secure as possible.
Thank you for your cooperation in this matter. We appreciate your understanding and compliance with KYC regulations.
For more information about KYC and its importance, click here.
The Documents You'll Need to Upload to Accept Payments When Additional Information is Required:
You'll want to click Add Information to provide the requested information. You may be asked for one or more of the following to verify your account:
A valid copy of your Government Photo ID, front and back.
It must not be a scan but a photo; it must be clear, non-blurry, with no glare, and all edges, nothing blocked from view.
Front and back uploaded.
In Color
If you have any problems uploading your ID, make sure the photos of your ID are saved as a JPEG and try uploading them again.
Social Security Number
The SSN should match the name on the Social Security Card exactly. This encrypted information cannot be seen by TurboTenant employees and is used to verify your identity.
Company Information (LLC, Business Name)
Upload a copy of your SS-4 Confirmation Letter or Form 147C IRS document. The company name has to be an exact match to the IRS document, including punctuation and capitalization. Click here to learn about the SS-4 Confirmation Letter and Form 147C.
The EIN (Federal Tax ID) must match your IRS documentation.
Full Address
It must match the account holder or the business address.
Copy of your Bank Statement
The bank account should match the account owner or the business name. If there is a mismatch, this will result in the banner reappearing.
After uploading the additional information requested, please allow 1-2 business days for our payment processor, Stripe, to verify the information. If the banner reappears or does not save, we recommend verifying that the information matches or contacting our team to help.
Frequently Asked Questions
Q: I uploaded my document, but the Additional Information banner still appears and is not saving; what should I do?
A: The most common reason for this is that the information you uploaded does not match the information you set up.
To fix this, you'll want to make sure that the information matches the account you set up. For example,
If you set up your account as a personal account but added a bank account that belongs to a business, you'll want to add a personal bank account to match the name on the account.
Or,
If you set up the account under a business account and it does not match the IRS document exactly, including punctuation and capitalization, this is considered a mismatch.
If you intend to use a business account and set it up as an individual, you'll want to reach out to our team for further assistance. You can take a proactive step and include your IRS documentation and any other relevant information. Our team can help you switch the account type at your request. This process can typically take several business days.
Q: I amended the company name on my LLC. Why am I still receiving the "Additional Information" prompt?
A: If you recently amended the name of your business on your LLC, Stripe requires the official IRS documentation for the business name changes you made. You must ensure the changes are registered with the IRS on the federal level (not just on the state level).
You must obtain an updated document from the IRS with the updated business name. Please get in touch with the IRS Business and Specialty Tax line at 1-800-829-4933. Once you obtain the IRS documents with the updated name, you'll be able to upload your document and get it verified.
If you need assistance or have questions, please get in touch with our team!