Is a UBO Statement legally required?

Many banks and regulated service providers require UBO information for KYC/AML checks; specific legal obligations may also arise under the Corporate Transparency Act and FinCEN reporting rules depending on entity type and transaction.

Can I e-sign a UBO Statement?

Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states, provided intent, consent, attribution, and retention requirements are met.

When is notarization necessary?

Notarization depends on the recipient's policy or state law; if a bank or counterparty requests notarization use in-person or RON procedures that meet state notary requirements.

What if ownership changes after signing?

Update the UBO Statement promptly and retain a dated change log; many institutions expect notification within 30 days of material ownership or control changes.

How should IDs be handled for privacy?

Provide only the identification details requested. Redact or limit full SSNs unless explicitly required, and follow secure transmission and retention practices.

Who should sign the statement?

An authorized representative of the entity — typically an officer, manager, or registered agent — should sign and date the statement to attest to its accuracy.

Electronic Signature
Templates
Miscellaneous
Business UBO Statement

Business UBO Statement

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

Business Ultimate Beneficial Owner (UBO) Statement

Recitals

WHEREAS, the Company identified below is required by applicable rules, internal policies and business relationships to identify and certify its Ultimate Beneficial Owner(s) ("UBO") for the purposes of customer due diligence, recordkeeping and compliance with anti-money laundering and similar laws; and

WHEREAS, the undersigned authorized officer makes this statement on behalf of the Company and certifies that the information provided herein is true, correct and complete to the best of the undersigned's knowledge, under penalty of law; and

WHEREAS, the Company provides the following UBO information to the Recipient (as required by the Recipient's policies and applicable law) and agrees to update this Statement promptly upon material change.

Reporting Company Identification

Company Name Business Registration Number Jurisdiction of Incorporation / Organization Principal Business Address

Reporting Date:

Scope and Purpose of Statement

This Statement identifies the natural person(s) who qualify as the Ultimate Beneficial Owner(s) of the Reporting Company under applicable beneficial ownership standards, and provides attestations regarding ownership, control and the absence of material omissions. Provide a concise description of the purpose for which this Statement is submitted and any limitations on use below.

Ultimate Beneficial Owner(s) — Disclosure

Provide details for each natural person who directly or indirectly (i) owns, controls or holds beneficial ownership of 25% or more of the Reporting Company, or (ii) otherwise exercises significant control. If ownership is held through an ownership chain, describe the chain in the section following the list.

UBO 1 — Full Legal Name

Date of Birth:

Nationality:

Ownership %:

Permanent Residential Address Nature of Control / Manner of Beneficial Ownership UBO 2 — Full Legal Name (if applicable)

Date of Birth:

Nationality:

Ownership %:

Permanent Residential Address Nature of Control / Manner of Beneficial Ownership UBO 3 — Full Legal Name (if applicable)

Date of Birth:

Nationality:

Ownership %:

Permanent Residential Address Nature of Control / Manner of Beneficial Ownership If ownership is held through an entity or chain, describe chain of ownership and identify the ultimate natural person(s)

Certification and Representations

The undersigned, being an authorized officer of the Reporting Company, hereby certifies, represents and warrants that:

1. The information provided in this Statement is true, complete and correct in all material respects as of the Reporting Date. The undersigned understands that knowingly providing false information may result in civil or criminal penalties.

2. The undersigned will notify the Recipient in writing within days of any material change to the information supplied herein and will provide an updated certified statement when required.

Certification (select all that apply)

I certify that the information contained in this Statement is accurate, complete and provided in good faith.

I have the authority to execute this Statement on behalf of the Reporting Company.

I agree to notify the Recipient promptly of any material change to the facts set forth herein.

Authorized Officer — Name Title / Position Contact Email Contact Phone

Validity; Updates; Notices

This Statement is effective as of the Reporting Date above and remains valid until superseded by a later certified statement. The Reporting Company shall provide updated information within the timeframe set forth above and shall promptly notify the Recipient of any material changes. Notices under this Statement shall be made in writing to the Recipient's designated compliance contact.

Confidentiality

The Recipient shall treat this Statement and the information contained herein as confidential for the purposes of internal compliance and regulatory reporting. Notwithstanding the foregoing, the Recipient may disclose such information to its affiliates, service providers and regulatory or law enforcement authorities where required by law, regulation or legitimate business need.

Governing Law

This Statement shall be governed by and construed in accordance with the substantive laws of the jurisdiction of incorporation of the Reporting Company, without regard to its choice-of-law rules, except where mandatory law of the Recipient's jurisdiction requires otherwise.

Entire Agreement

This Statement, together with any appendices and attachments hereto, constitutes the entire understanding between the Reporting Company and the Recipient regarding the matters addressed herein and supersedes all prior oral or written statements and understandings related to the subject matter of this Statement.

Authorized Officer - Print Name:

By (Signature):

Date:

What a Business UBO Statement Is and when it matters

A Business UBO Statement documents the ultimate beneficial owners — the natural persons who directly or indirectly own or control a company. Financial institutions, corporate registries, and professional service firms commonly collect UBO statements for Know Your Customer (KYC) and anti-money laundering (AML) due diligence. The form captures names, ownership percentages, identifying details, and the nature of control. In many onboarding and compliance workflows the Business UBO Statement is a standalone exhibit or a standard attachment to account-opening packets and incorporation records.

Why maintaining a clear Business UBO Statement matters

A complete UBO Statement clarifies ownership, reduces onboarding friction with banks and regulators, and supports timely compliance with KYC and AML checks. Accurate statements help organizations respond to inquiries, verify tax and reporting responsibilities, and meet internal audit requirements.

Who typically completes or requests this statement

Preparing a clear, signed UBO Statement at formation or upon material ownership change streamlines audits and regulatory inquiries.

Banks and financial institutions for account opening and ongoing KYC checks.
Law firms and corporate service providers during formation and M&A due diligence.
Internal compliance teams and external auditors verifying beneficial ownership.

Step-by-step: completing the Business UBO Statement

Follow these sequential steps to assemble and sign a compliant UBO Statement for onboarding or recordkeeping.

01

Gather Documents: Collect formation records, operating agreement, and ID for each UBO.
02

List Owners: Record each natural person's full name and ownership percentage.
03

Verify Identity: Confirm IDs and match DOB/TIN as required by the requester.
04

Sign and Date: Authorized signer signs, dates, and provides contact for follow-up.

How submitting and e-signing a UBO Statement typically works

Below is the common flow for digital completion and submission of a Business UBO Statement.

Prepare Document: Complete fields and attach supporting IDs.
Assign Signers: Add email addresses for authorized signers.
Sign Electronically: Use platform eSignature or RON if notarization required.
Deliver & Archive: Send final copies to requestor and retain audit trail.

Core components to include in a professional UBO Statement

A complete Business UBO Statement contains standardized sections that help compliance teams, banks, and counsel verify ownership and control quickly and reliably.

Header

Entity name, jurisdiction of formation, and formation date so reviewers can match the statement to public registration records and filings.

Ownership Table

Tabular list of beneficial owners showing full legal name, ownership percentage, role, and identification reference for clarity and automated ingestion.

Control Description

Concise explanation of how each UBO exercises control (voting, contractual, nominee) to supplement percentage-based ownership.

Supporting IDs

Reference to attached government IDs or proof-of-address documents used to verify identity during KYC checks.

Declaration

Signed statement by an authorized representative affirming the accuracy of the information and noting the date of preparation.

Change Log

Field noting the date of last update and a brief history of ownership changes for audit and reporting continuity.

Security and data-handling expectations for UBO Statements

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Access Controls: Role-based access and audit logging

Certifications: SOC 2 Type II; ISO 27001 available

HIPAA Support: BAA available where health data applies

Audit Trail: Timestamped logs and signer attribution

Data Privacy: CCPA and GDPR compliance features

Common preparation pitfalls to avoid

Using informal or abbreviated owner names that do not match government ID, which delays verification and may trigger requests for corrected documentation.
Failing to state precise ownership percentages or listing overlapping percentages without explanation, producing inconsistencies that require reconciliation.
Attaching low-quality or expired identification documents that fail automated credential analysis and force manual review.
Skipping the change log or failing to update the statement when ownership or control structures change, which undermines auditability.

Consequences of incorrect or missing UBO information

Account Delays: Bank onboarding may be suspended

Regulatory Risk: Heightened AML scrutiny and inquiries

Reputational Harm: Third-party trust and vendor risk increases

Contractual Breach: Counterparties may assert noncompliance

Fines: Civil penalties depending on regulator

Data Exposure: Poor handling can increase breach risk

Digital workflow settings to configure for UBO collection

Select workflow options that match your compliance needs and signer authentication expectations.

Field	Configuration
Signer Authentication	Email link, SMS code, or KBA
Required Attachments	ID images and proof of address
Versioning	Enable change log and version control
Retention Policy	Automated archival and export rules

Technical and integration considerations for e-submission

Ensure audit trail retention meets internal policy and regulatory recordkeeping needs before enabling automated sign-and-store workflows.

File formats: PDF, DOCX, and export to Excel
Integrations: Salesforce, NetSuite, Microsoft 365, Google Workspace
Advanced Auth: KBA, two-factor, and RON support

Typical timing and update expectations for UBO Statements

There is no single federal deadline for a UBO Statement; common timing practices used by banks and service providers are listed below.

On Account Opening:

Provide at onboarding or upon request during account setup

After Ownership Change:

Update within 30 days of a material ownership or control change

Periodic Re-Certification:

Many firms request annual or biennial confirmation

Regulatory Request:

Respond promptly to any regulator or auditor request

Internal Audit:

Retain current statements for audit cycles and compliance review

eSignature vendor comparison for handling UBO Statements

Vendor pricing and feature availability influence how you collect, notarize, and archive Business UBO Statements; signNow is listed first for parity with platform details.

	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	No	No	Yes, limited	Yes, limited
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No envelope cap	100 envelopes/user/year	Varies	Varies	Varies

Frequently asked questions about the Business UBO Statement

Answers to common questions about when to provide a UBO Statement, how to sign it, and how it is used for compliance.

Need help? Contact support

Is a UBO Statement legally required?
Many banks and regulated service providers require UBO information for KYC/AML checks; specific legal obligations may also arise under the Corporate Transparency Act and FinCEN reporting rules depending on entity type and transaction.
Can I e-sign a UBO Statement?
Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states, provided intent, consent, attribution, and retention requirements are met.
When is notarization necessary?
Notarization depends on the recipient's policy or state law; if a bank or counterparty requests notarization use in-person or RON procedures that meet state notary requirements.
What if ownership changes after signing?
Update the UBO Statement promptly and retain a dated change log; many institutions expect notification within 30 days of material ownership or control changes.
How should IDs be handled for privacy?
Provide only the identification details requested. Redact or limit full SSNs unless explicitly required, and follow secure transmission and retention practices.
Who should sign the statement?
An authorized representative of the entity — typically an officer, manager, or registered agent — should sign and date the statement to attest to its accuracy.

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