Who must be listed as a UBO?

List any natural person who directly or indirectly owns or controls the entity per your counterparty's instructions. Include individuals with significant ownership percentages and those with substantive control rights; follow the receiving organization's definition to avoid discrepancies.

Can the declaration be signed electronically?

Yes. Electronic signatures are valid under the ESIGN Act and UETA when intent, consent, attribution, and record retention are present. Ensure the chosen workflow captures an audit trail and, when required, stronger signer authentication.

Is notarization required?

Not typically required for most UBO declarations, but certain counterparties or state-specific processes may request notarization or witness attestations. Confirm the receiving party's requirements before submitting.

What supporting documents are commonly requested?

Common attachments include government-issued IDs, formation documents, shareholder ledgers, and trust instruments. Providing these at submission reduces follow-up and speeds verification.

How do I correct an error after signing?

Prepare and submit an amended declaration that clearly references the original, identifies corrections, and is signed by the authorized representative; retain both versions in your records for audit purposes.

How long should I keep signed UBO declarations?

Retain signed declarations for the active relationship plus several years thereafter consistent with tax and regulatory retention rules; industry standards often recommend at least three to seven years and longer where HIPAA or state rules apply.

Electronic Signature
Templates
Miscellaneous
Business UBO Declaration

Business UBO Declaration

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

BUSINESS UBO DECLARATION

Company Name: Registration Number:

Registered Address

Jurisdiction of Incorporation: Principal Place of Business (if different):

Entity Type (select all that apply)

Corporation Limited Liability Company (LLC) Partnership Trust Other:

WHEREAS

WHEREAS the company named above (the "Company") is required to identify and disclose its ultimate beneficial owner(s) in accordance with applicable internal policies and regulatory due diligence requirements; and

WHEREAS the Company, by its authorized representative below, makes this declaration to the Recipient identified herein for the purpose of confirming ownership, control and persons who exercise ultimate economic or voting influence over the Company.

WHEREAS the Recipient may rely on the statements set forth in this Declaration for the purposes of client verification, risk assessment and recordkeeping.

SCOPE OF DECLARATION

Scope (describe the scope and purpose of this declaration)

DECLARATION OF ULTIMATE BENEFICIAL OWNER(S)

The undersigned declares that the following individual(s) are the ultimate beneficial owner(s) of the Company, defined as natural persons who ultimately own or control, directly or indirectly, 25% or more of the Company’s ownership interest or who exercise equivalent significant influence or control:

UBO 1

Full Legal Name Date of Birth Nationality Residential Address Nature of Control / Basis for Identification Ownership Percentage Identification Document

UBO 2 (if applicable)

Full Legal Name Date of Birth Nationality Residential Address Nature of Control / Basis for Identification Ownership Percentage Identification Document

If additional UBOs exist, attach a completed addendum with equivalent detail and initial here:

FEES AND PAYMENT (IF APPLICABLE)

Processing Fee Amount: Payment Schedule: Late Fee:

TERM AND TERMINATION

This Declaration is effective as of: and shall remain in effect until: .

Either party may terminate this Declaration by providing written notice to the other party not less than prior to the intended termination date; provided, however, that obligations arising prior to termination shall survive termination to the extent necessary to give effect to those obligations.

CONFIDENTIALITY

All information provided in this Declaration, including supporting documentation and any subsequently furnished updates, shall be treated as confidential by the Recipient and shall be used solely for compliance, due diligence and recordkeeping purposes. The Recipient shall not disclose such information except (a) as required by applicable law or regulation, (b) to its professional advisors on a confidential basis, or (c) to governmental or regulatory authorities with jurisdiction. Any authorized disclosure shall be limited to the minimum information required by the recipient of such disclosure.

GOVERNING LAW

This Declaration shall be governed by and construed in accordance with the laws of: , without regard to its conflicts of law principles.

ENTIRE AGREEMENT

This Declaration, together with any attachments and addenda specifically incorporated by reference, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous understandings and agreements, whether written or oral, relating thereto.

CERTIFICATION

The undersigned, being duly authorized to act on behalf of the Company, certifies that the information contained in this Declaration and any attachments is true, correct and complete to the best of the undersigned's knowledge and belief. The undersigned acknowledges that the Recipient may rely on this certification and that any material misrepresentation, omission or failure to update the information may result in regulatory action or other consequences permitted by law.

Authorized Representative Name Title / Position Contact Email Contact Phone

Recipient (entity receiving this Declaration): Recipient Contact:

Company (Declarant) Printed Name:

By:

Date:

Recipient Printed Name:

By:

Date:

What a Business UBO Declaration Is and when it’s used

A Business UBO Declaration documents the ultimate beneficial owners of a legal entity and the ownership or control structure that identifies who ultimately owns or controls the business. Financial institutions, payment providers, corporate registries and compliance teams use the form for KYC/AML screening, vendor onboarding, and regulatory reporting. The declaration typically lists individuals with significant ownership percentages or control rights and establishes contact, identity, and attestations that organizations rely on to satisfy internal policies and external regulations.

Why a clear UBO Declaration matters for compliance and risk

Accurate UBO declarations reduce onboarding delays, strengthen anti-money-laundering controls, and document legal ownership for counterparty due diligence. They create a consistent, auditable record used in audits, sanctions screening, and regulator inquiries.

Who commonly completes or requests a UBO Declaration

The form is typically completed by an authorized company representative and signed by relevant officers or beneficial owners to attest to accuracy.

Corporate compliance teams performing KYC checks and sanctions screening during onboarding and periodic reviews.
Banks, payment processors, and merchant acquirers verifying ownership for account opening and transaction monitoring.
Legal and finance teams collecting ownership data for corporate records, audits, and beneficial ownership reporting.

Core elements to include in a professional UBO Declaration

A well-structured declaration makes identity, ownership percentage, control mechanisms and attestations explicit to reduce follow-up questions.

Owner Identity

Full legal name, date of birth, nationality, and government ID details for each ultimate beneficial owner; provides unambiguous identity for screening and verification.

Ownership Stake

Clear ownership percentages or number of shares held by each beneficial owner, with calculation method and effective date for the interest shown.

Control Rights

Description of voting rights, veto powers, board seats, or other contractual control that confer substantive influence over the entity.

Entity Details

Registered company name, registration number, jurisdiction, and principal business address to link owners to the legal entity.

Attestation

A signed statement from an authorized representative confirming completeness and accuracy, including date and role of the signer.

Supporting Docs

IDs, ownership schedules, corporate formation documents, and any trust or nominee agreements that substantiate reported ownership.

Essential data fields to collect on the declaration

Legal name: Exact company name

UBO full name: Owner legal name

Ownership percent: Percent stake

ID type: Passport or driver’s license

Contact email: Corporate or personal email

Declaration date: MM/DD/YYYY

Step-by-step: completing a Business UBO Declaration

Follow these steps to produce a complete, auditable UBO declaration acceptable for onboarding and compliance checks.

01

Gather documents: Collect formation docs, shareholder register, and IDs before starting.
02

Enter entity data: Fill in company name, jurisdiction, and registration number.
03

List UBOs: Add each beneficial owner with ownership percent and ID details.
04

Sign and date: Authorized representative signs, dates, and attaches supporting files.

Configuring an online UBO declaration workflow

Settings below reflect common digital workflow choices for faster, auditable UBO collection.

Field	Configuration
UBO name field	Required text entry; enable Magic fields for auto-fill
ID upload	Required file field; accept PDF/JPEG; set max 10 MB
Signature type	eSignature with audit trail; optional advanced auth
Conditional fields	Show trustee details only when ownership via trust

Where to send or file a completed UBO Declaration

Routing depends on your transaction: internal recordkeeping, bank onboarding, or regulatory submission each require different destinations.

Bank or acquirer: Submit during account opening or KYC refresh.
Internal compliance: Store in secure compliance repository with access controls.
Third-party verifier: Send to AML screening provider for ID verification.
Regulatory filing: Provide if regulator or statute explicitly requires disclosure.

Digital signing and platform requirements for secure submission

Ensure the selected platform can export signed records and certificate-of-completion artifacts for long-term retention and audits.

Integrations: Salesforce, NetSuite, Google Workspace
Formats: PDF, DOCX, and scanned images
Security: TLS + AES-256 encryption

Typical timing requirements and refresh schedules

Timelines vary by business and regulator; plan for initial submission at onboarding and periodic updates after ownership changes.

Initial submission:

Provide at account opening or vendor onboarding to avoid processing delays.

Ownership changes:

Update the declaration promptly when ownership or control materially changes.

Periodic refresh:

Many organizations refresh UBO data annually or on a scheduled review cycle.

Internal retention review:

Confirm retention schedule and export records before archival or deletion.

Expedited requests:

Be prepared to deliver updated declarations within 30 days if requested by counterparties or regulators.

Common mistakes that delay verification

Submitting trade or DBA names instead of the legal entity name causes identity mismatches and requires resubmission.
Reporting rounded or estimated ownership percentages without a calculation method triggers follow-up documentation requests.
Uploading low-quality ID images prevents automated verification and increases manual review time from days to weeks.
Failing to sign or date the attestation invalidates the declaration and leads to account holds or delayed onboarding.

Risks and regulatory consequences of incorrect UBO information

Onboarding delays: Accounts may be placed on hold pending clarification

Regulatory fines: Potential AML/KYC penalties from authorities

Operational risk: Increased manual review and remediation costs

Transaction blocks: Payments may be declined or frozen

Reputational harm: Partner and customer trust may be affected

Contract invalidation: Material misrepresentation could void agreements

Representative examples showing practical use of a UBO declaration

These condensed examples show how different organizations use UBO declarations during onboarding and recordkeeping.

Optica Ventures LLC

A venture services firm collected standardized UBO declarations during fund onboarding to centralize ownership data for KYC checks.

The platform reduced document chase.
"The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers."

Martin Properties

A real estate operator required UBO declarations before tenant approval and vendor contracting.

The form captured ownership layers efficiently.
"I can process and execute all of these documents online with 100% compliance and built-in security."

Who should sign or authorize this declaration

Chief Compliance Officer

The CCO or designated compliance lead typically reviews and certifies UBO data, ensuring it meets AML policy, sanctions-screening, and audit requirements before submission.

Authorized Company Officer

A CEO, CFO, corporate secretary, or other authorized officer should sign the attestation verifying that the declaration is complete and accurate under penalty of law if applicable.

Practical tips to reduce errors and speed verification

Adopt consistent procedures and templates to limit back-and-forth and regulatory exposure.

Use exact legal names

Always enter entity and owner names as shown on formation documents and government IDs. Small variations frequently trigger manual review and delays.

Attach supporting files

Include formation documents, shareholder ledgers, and clear ID scans when submitting the declaration to reduce requests for additional evidence.

Implement digital workflows

Use platforms that capture signature metadata, timestamps, and an immutable audit trail to provide evidence in audits and regulator inquiries.

Schedule periodic reviews

Establish annual or transaction-driven refreshes of UBO data and log changes and amended declarations to maintain a reliable audit history.

Comparing eSignature solutions for submitting a UBO Declaration

Basic capability differences can affect cost, compliance and volume handling when collecting signed UBO declarations electronically.

	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 plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently asked questions about the Business UBO Declaration

Answers to common practical questions about completion, signing, retention, and platform requirements.

Need help? Contact support

Who must be listed as a UBO?
List any natural person who directly or indirectly owns or controls the entity per your counterparty's instructions. Include individuals with significant ownership percentages and those with substantive control rights; follow the receiving organization's definition to avoid discrepancies.
Can the declaration be signed electronically?
Yes. Electronic signatures are valid under the ESIGN Act and UETA when intent, consent, attribution, and record retention are present. Ensure the chosen workflow captures an audit trail and, when required, stronger signer authentication.
Is notarization required?
Not typically required for most UBO declarations, but certain counterparties or state-specific processes may request notarization or witness attestations. Confirm the receiving party's requirements before submitting.
What supporting documents are commonly requested?
Common attachments include government-issued IDs, formation documents, shareholder ledgers, and trust instruments. Providing these at submission reduces follow-up and speeds verification.
How do I correct an error after signing?
Prepare and submit an amended declaration that clearly references the original, identifies corrections, and is signed by the authorized representative; retain both versions in your records for audit purposes.
How long should I keep signed UBO declarations?
Retain signed declarations for the active relationship plus several years thereafter consistent with tax and regulatory retention rules; industry standards often recommend at least three to seven years and longer where HIPAA or state rules apply.

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