Who must sign this form?

An authorized representative of the entity must sign. Verify authority via articles of organization, an operating agreement, or a board resolution to avoid execution disputes.

Can owners sign electronically?

Yes. Electronic signatures meet ESIGN (15 U.S.C. §7001) and UETA where adopted, provided intent, consent, attribution, and retention requirements are satisfied.

Is notarization required?

Not always. Certain parties may request notarized or RON‑notarized records for extra authentication; check counterparty requirements and state notary rules.

What if TIN is incorrect?

An incorrect TIN can trigger backup withholding (24%) and IRS information return penalties; correct inaccurate TINs promptly to avoid withholding and fines.

How do I update ownership details?

Submit an amended Business Ownership Information form with supporting documents showing the ownership change and a dated signature from an authorized representative.

How long should records be kept?

Follow IRS minimums (3 years from filing, IRC §6501(a)) and industry rules; healthcare records must be retained 6 years (45 CFR §164.530(j)).

Electronic Signature
Templates
Miscellaneous
Business Ownership Information

Business Ownership Information

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

BUSINESS OWNERSHIP INFORMATION AND GENERAL BUSINESS AGREEMENT

This Business Ownership Information and General Business Agreement (the "Agreement") is entered into as of by and between Company Name: and Counterparty Name: .

RECITALS

WHEREAS, Company Name operates a business engaged in commercial activities and requires an accurate and sworn statement of ownership, management and controlling persons for purposes of compliance, contracting, and record keeping; and

WHEREAS, Counterparty Name will rely on the ownership representations and the scope of services described herein in performing services and assessing legal and financial responsibilities; and

NOW, THEREFORE, in consideration of the mutual covenants set forth in this Agreement, the parties agree as follows:

BUSINESS IDENTIFICATION

Business Legal Name Doing Business As (DBA), if any Employer Identification Number (EIN) or Tax ID Principal Business Address Mailing Address (if different) Jurisdiction of Formation Date of Formation / Incorporation

ENTITY TYPE

Select entity type: Corporation LLC Partnership Sole Proprietorship Other

OWNERSHIP AND CONTROL

Provide the names, titles, ownership percentage, and principal address for all owners or persons with 10% or greater direct or indirect ownership or control. Include registered agent if applicable.

Owner 1 — Full Legal Name Title / Position Ownership Percentage Principal Address Tax Identification (EIN or last 4 SSN) Owner 2 — Full Legal Name Title / Position Ownership Percentage Principal Address Tax Identification (EIN or last 4 SSN)

If additional owners exist, attach a separate sheet with the same fields or use the provided Additional Owners field below.

Additional Owners (attach or list)

SCOPE OF WORK

Company hereby engages Counterparty to perform the services described below and Counterparty accepts such engagement subject to the terms and conditions of this Agreement.

Description of Services

PAYMENT TERMS

Compensation for the services described in the Scope of Work shall be as set forth below. Unless otherwise agreed in writing, all payments are due in accordance with this section.

Total Contract Amount Payment Schedule / Milestones Late Payment Fee

TERM AND TERMINATION

This Agreement shall commence on the Start Date and continue through the End Date unless earlier terminated in accordance with this section.

Start Date End Date (or "until terminated") Notice Period for Termination Termination Provisions

CONFIDENTIALITY

Each party acknowledges that during the term of this Agreement it may receive confidential or proprietary information of the other party ("Confidential Information"). Each party agrees to (i) hold Confidential Information in strict confidence; (ii) use Confidential Information only for the purposes of performing its obligations under this Agreement; and (iii) not disclose Confidential Information to any third party except as expressly permitted in writing or as required by law, provided that the receiving party shall give prompt written notice to the disclosing party of any compelled disclosure and shall cooperate in seeking protective measures. Confidential Information shall not include information that is or becomes publicly available without breach of this Agreement, is already lawfully known to the receiving party, or is independently developed by the receiving party without use of the disclosing party's Confidential Information.

Acknowledgment of Confidentiality

I certify that the ownership and business information provided on this form is confidential and will be handled in accordance with the Confidentiality provisions above.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflicts of law principles. The parties submit to the exclusive jurisdiction of the courts located in that State for disputes arising under this Agreement, subject to any mandatory forum or arbitration provisions agreed in writing.

ENTIRE AGREEMENT; SEVERABILITY

This instrument, together with any exhibits or attachments expressly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements, understandings, and representations. If any provision of this Agreement is held invalid or unenforceable, the remainder of the Agreement shall remain in full force and effect.

CERTIFICATION

The undersigned certifies under penalty of perjury that the ownership information provided herein is true, correct and complete to the best of their knowledge, that the signer is duly authorized to bind the identified entity, and that any material changes to ownership or control will be promptly disclosed in writing to the counterparty identified above.

Additional Certifications / Notes

Company Representative

Print Name:

By:

Date:

Counterparty Representative

Print Name:

By:

Date:

What the Business Ownership Information Is

The Business Ownership Information is a standardized record that identifies a company’s legal owner(s), ownership percentages, tax identifiers, and authorized signers. Typically requested by banks, vendors, government agencies, and contracting parties, the form aggregates the facts necessary for tax reporting, Know Your Customer checks, vendor setup, and contract execution. In electronic workflows the completed record is preserved as a dated, auditable document and often paired with a W-9, articles of organization/incorporation, or an ownership affidavit to establish legal and tax relationships.

Why a Complete Ownership Record Matters

A clear Business Ownership Information record reduces onboarding friction, supports accurate tax reporting, and documents authority for contracts and payments under ESIGN (15 U.S.C. §7001) and UETA where applicable.

Who Typically Provides or Requests This Information

Use of the Business Ownership Information spans small businesses through large enterprises and is especially common in regulated industries where ownership transparency is required.

Banks and lenders setting up accounts or credit facilities.
Vendors and procurement teams validating supplier authority.
Government agencies and tax filers verifying payee information.

Essential Components to Include

A professional Business Ownership Information record groups identity, tax, and authority data to enable third parties to verify ownership and signatory power quickly and consistently.

Legal Entity

Full legal business name and any DBA names, matching formation documents so third parties can confirm the entity’s registration and status.

Tax Identifier

EIN or SSN for sole proprietors provided exactly as issued to avoid backup withholding triggers and to support 1099 reporting.

Ownership Breakdown

Named owners with percentage ownership and effective dates so beneficiaries and controlling parties are unambiguous for compliance and governance.

Authorized Signers

Names and titles of individuals authorized to sign on behalf of the business, including limits of authority where applicable.

Contact Details

Primary business address, mailing address if different, phone and email for correspondence and service of notices.

Supporting Proof

References to attachments such as articles of organization, operating agreement, partnership certificate, or government-issued ID to substantiate ownership claims.

Key Data Fields You Must Capture

Entity Name: Exact legal name

EIN or SSN: Tax identifier

Owner Name(s): Legal names listed

Ownership %: Percent share

Authorized Signer: Name and title

Effective Date: MM/DD/YYYY

Step-by-Step: Completing the Form

Follow this sequence to assemble and submit complete Business Ownership Information efficiently.

01

Gather Documents: Collect formation papers and tax IDs.
02

Enter Fields: Populate legal name, EIN, owners, percentages.
03

Attach Proof: Upload articles, operating agreement, IDs.
04

Sign and Archive: Obtain signatures and save a dated copy.

How the Submission and Verification Process Works

A typical workflow routes the completed record to verifiers and retains an audit trail for future reference.

Submit: Sender uploads and assigns fields.
Sign: Authorized signer reviews and signs.
Verify: Recipient reviews attachments and confirms identities.
Store: Final document and audit trail are archived.

Digital Signing and File Format Considerations

Choose tools that support conditional fields, identity verification, and secure long-term storage to maintain legal validity and ease of access.

File Types: PDF, DOCX, HTML, Excel supported
Integrations: Salesforce, NetSuite, Microsoft 365
Security: AES-256 at rest, TLS 1.2/1.3

Timing and Related Tax Deadlines to Keep in Mind

Some ownership facts trigger related tax reporting and retention timelines; meet these to avoid penalties.

Provide on Request:

Business Ownership Information should be delivered promptly when requested by payers.

W-9 Timing:

Provide W-9 upon payer request to avoid backup withholding delays.

1099-NEC Deadline:

Form 1099-NEC to recipients and IRS by Jan 31.

Retention Rule:

Keep records consistent with IRS and industry retention requirements.

Update Changes:

Submit updated ownership info when control or ownership changes occur.

Common Mistakes to Avoid

Using trade names instead of the registered legal name.
Entering incorrect EIN/SSN formats causing TIN mismatch.
Failing to attach formation documents or proof of authority.
Not updating the record after ownership transfers or changes.

Potential Consequences of Incorrect or Missing Information

Backup Withholding: 24% withholding for missing/incorrect TIN

Information Return Penalties: IRS fines for late/incorrect 1099 filings

Contract Delays: Execution and payment hold-ups

Regulatory Risk: KYC/AML noncompliance exposure

Reputational Harm: Loss of vendor or banking relationships

Legal Challenges: Disputes over authority or ownership

Practical Examples of Use

These brief examples show how completed ownership records are used in everyday workflows.

Optica Ventures LLC

A venture firm centralizes ownership records for investor reporting

used a single template to collect ownership percentages and EINs
The standardized record reduced follow‑up queries and sped vendor onboarding while preserving a clear audit trail (Brian Fitzgibbons, COO).

Martin Properties

A property manager captured owner authority remotely to approve repairs

combined ownership info with signed authorization
This allowed onsite contractors to proceed without in‑person signings and kept documentation compliant for leasing audits (Tim Martin, Founder).

eSignature Pricing Comparison for Ownership Workflows

Common features and starting prices for popular eSignature providers to consider when choosing a platform for Business Ownership Information management.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies	Varies	Varies	Varies
Bulk Send	Yes (Premium)	Yes	Yes	Yes	Yes
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently Asked Questions

Answers to common questions about completing, signing, and storing Business Ownership Information in U.S. workflows.

Need help? Contact support

Who must sign this form?
An authorized representative of the entity must sign. Verify authority via articles of organization, an operating agreement, or a board resolution to avoid execution disputes.
Can owners sign electronically?
Yes. Electronic signatures meet ESIGN (15 U.S.C. §7001) and UETA where adopted, provided intent, consent, attribution, and retention requirements are satisfied.
Is notarization required?
Not always. Certain parties may request notarized or RON‑notarized records for extra authentication; check counterparty requirements and state notary rules.
What if TIN is incorrect?
An incorrect TIN can trigger backup withholding (24%) and IRS information return penalties; correct inaccurate TINs promptly to avoid withholding and fines.
How do I update ownership details?
Submit an amended Business Ownership Information form with supporting documents showing the ownership change and a dated signature from an authorized representative.
How long should records be kept?
Follow IRS minimums (3 years from filing, IRC §6501(a)) and industry rules; healthcare records must be retained 6 years (45 CFR §164.530(j)).

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now