Business Identity
Legal entity name, DBA, formation state, and contact information; verifies who is entering the agreement and supports KYC checks.
Completing this document accurately establishes legal authority for payouts, ensures correct tax reporting, and documents merchant obligations. It also creates an auditable record of consent and identification that supports compliance with U.S. e-signature law and financial reporting requirements.
Merchants, payment administrators, and platform compliance teams routinely prepare and review Business Shopify Documents before enabling payouts or connecting third-party services.
Clear role assignment helps avoid delays: know who collects identity data, who approves tax entries, and who is authorized to sign on the business’s behalf.
| Field | Configuration |
|---|---|
| Signer Authentication | Email link, SMS code, or KBA depending on risk level |
| Field Types | Signature, initials, date, text, conditional fields for optional sections |
| Notifications | Automatic reminders and completion alerts to all parties |
| Integrations | Map executed documents to CRM or accounting systems |
Legal entity name, DBA, formation state, and contact information; verifies who is entering the agreement and supports KYC checks.
EIN or SSN as applicable, withholding instructions, and W-9 or W-8 documentation needed for accurate IRS reporting and backup withholding prevention.
Routing and account numbers, payout schedule, and authorization language permitting platform-initiated transfers and returns.
Scope of services, refund policy, fee structure, liability limits, and dispute resolution clauses governing the merchant-platform relationship.
Specify permitted uses of customer and merchant data, data retention, and any HIPAA or privacy constraints when applicable.
Dedicated signature block for authorized signers, execution date, and witness or notarization requirements if needed by state law.
Provide final copies as PDF/A, DOCX, and HTML for archiving and legal reproducibility.
Configure a template with prefilled fields and conditional sections to speed onboarding of new merchants.
Record timestamps, IP addresses, and signer authentication events to support legal admissibility.
Use calculated fields, dropdowns, and conditional logic to prevent entry errors and speed completion.
The business owner or CEO typically signs to authorize payouts and contractually bind the company; ensure the signer’s name matches formation documents and banking authorizations to avoid payment holds or disputes.
A finance or accounting lead may review and sign tax and payout sections; their signature confirms banking details are accurate and supports compliance with IRS reporting obligations.
Provide a completed W-9 upon payer request to avoid backup withholding.
File 1099-NEC with recipients and IRS by January 31 for nonemployee compensation.
Personal returns and related filings due April 15 (Form 1040) unless extended.
Retain I-9 forms 3 years from hire or 1 year after termination, whichever is later (8 CFR §274a.2).
RON sessions typically require multi-year audio-video retention; follow state notary rules.
Populate all required fields and attach supporting documents before sending.
Finance and compliance verify tax IDs and bank details for accuracy.
Authorized signers sign electronically; notarize if state law or contract requires it.
Platform activates payouts after verification and any mandatory waiting periods.
| 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 by vendor | Varies by vendor | Varies by vendor | Varies by vendor |
| Bulk Send | Yes (Premium) | Yes | Yes | Yes | No |
| Audit Trail | Yes | Yes | Yes | Yes | Yes |
| HIPAA Compliant | Yes (BAA available) | Yes | Yes | No | No |
| Envelope Cap | No cap | 100 envelopes/user/year | Varies | Varies | Varies |
Ensure your platform choice supports required formats and integrations for smooth processing.