Are electronic certifications legally binding?

Yes. Electronic signatures are legally recognized under the ESIGN Act (15 U.S.C. §7001) and by UETA in most states when intent, consent, attribution, and retention are satisfied.

When is notarization required?

Notarization depends on the recipient or state law. Some banks or state filings require notarized attestations; verify the requirement before signing to avoid re-execution.

Who may sign the certification?

An authorized officer, manager, or other person with documented authority should sign. Improper signatory authority can invalidate the certification for the requester.

How do I correct an error after signing?

Do not alter the original signed copy. Execute an amended certification or a signed errata statement referencing the original effective date and distribute to recipients.

How long must I keep the certification?

Follow applicable retention rules: IRS generally 3 years (IRC §6501(a)), HIPAA 6 years (45 CFR §164.530(j)), and industry or state requirements that may be longer.

Can I submit the certification electronically to banks?

Many banks accept securely signed PDFs with a verifiable audit trail. Confirm the bank’s acceptance policies and any required authentication or notarization.

Electronic Signature
Templates
Legal
Certification of Business Owners

Certification of Business Owners

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CERTIFICATION OF BUSINESS OWNERS

This Certification of Business Owners (the "Certification") is made as of Date: by and between Business Name: (the "Company") and Recipient Name: (the "Recipient").

RECITALS

WHEREAS, the Company is duly organized and existing under the laws of State of Formation: and maintains its principal place of business at ; and

WHEREAS, the Recipient has requested a certification of the ownership of the Company and such other information as set forth below to verify beneficial owners, control persons, and ownership percentages; and

WHEREAS, the Company is willing to provide this Certification subject to the representations, warranties, and conditions contained herein.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

1. BUSINESS INFORMATION

Entity Type

Corporation Limited Liability Company Partnership Other:

Date of Formation Federal Tax Identification (last 4 digits)

2. CERTIFICATION OF OWNERSHIP

The Company hereby certifies, represents and warrants that, to the best of its knowledge and belief, the following individuals or entities are the beneficial owners or direct owners of the Company and their respective ownership interests are accurately stated below. Each person identified below is a natural person or legal entity with the indicated ownership interest and authority.

Owner 1

Full Legal Name Title / Capacity Percent Ownership Business Address Date Interest Acquired

Owner 2

Full Legal Name Title / Capacity Percent Ownership Business Address Date Interest Acquired

Owner 3 (if applicable)

Full Legal Name Title / Capacity Percent Ownership Business Address Date Interest Acquired

3. REPRESENTATIONS AND WARRANTIES

The Company represents and warrants that (a) the information provided in this Certification is true, correct and complete as of the date hereof; (b) the persons and entities listed above are the only persons or entities that, individually or collectively, directly or indirectly, own beneficial interests of ten percent (10%) or more in the Company, except as otherwise disclosed in writing; and (c) the Company has authority to make the representations contained in this Certification and to bind the Company to the obligations set forth herein.

4. DUTY TO UPDATE

The Company shall promptly notify the Recipient in writing within Ten (10) calendar days of any material change in the information certified herein, including any change in ownership, control, or beneficial ownership percentages. Failure to timely notify the Recipient shall constitute a breach of this Certification.

5. CONFIDENTIALITY

The Recipient agrees that information provided in this Certification that is identified as confidential shall be maintained in confidence and used only for the purpose for which it was requested, except as required by mandatory law or regulation. Notwithstanding the foregoing, the Recipient may disclose the information to its counsel, auditors, and regulators under obligations of confidentiality.

6. INDEMNIFICATION

The Company shall defend, indemnify and hold harmless the Recipient and its officers, directors and employees from and against any losses, liabilities, claims, demands, damages and expenses (including reasonable attorneys' fees) arising from any inaccuracy, omission or breach of any representation or warranty made by the Company in this Certification.

7. NOTICES

Company Notice Address Recipient Notice Address

8. GOVERNING LAW; MISCELLANEOUS

Governing Law: This Certification shall be governed by and construed in accordance with the laws of State of Governing Law: , without regard to conflict of law principles.

Entire Agreement: This Certification constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral, concerning such subject matter.

Severability: If any provision of this Certification is held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.

Amendments; Waiver; Counterparts: No amendment or waiver of any provision of this Certification shall be effective unless in writing and signed by both parties. Failure to insist upon strict performance of any provision shall not be construed as a waiver. This Certification may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.

9. CERTIFICATION; PENALTY OF PERJURY

The undersigned certifies under penalty of perjury under the laws of State of Certification: that the information provided in this Certification is true, correct and complete to the best of the signatory's knowledge and belief, and that the signatory is authorized to execute this Certification on behalf of the Company.

Company:

By:

Date:

Recipient:

By:

Date:

What the Certification of Business Owners is and when it’s used

The Certification of Business Owners is a formal declaration that identifies the legal owners and their ownership interests in a business entity. Organizations commonly use this certification for KYC, banking, lending, vendor onboarding, and state or contractual due diligence. The document typically lists owner names, ownership percentages, tax identification numbers or redacted TINs, control roles, and a signed declaration under penalty of perjury. The certification can be submitted on paper or electronically and is often requested when opening accounts, applying for financing, or meeting regulatory reporting requirements.

Why a clear certification matters

A complete Certification of Business Owners proves who legally controls the company, reduces delays in account openings and financing, and helps organizations meet anti-money laundering and beneficial ownership requirements under U.S. compliance frameworks.

Who typically prepares and requests this certification

This certification is requested and completed by a mix of external and internal parties depending on the use case.

Banks and lenders requesting beneficial ownership and identity proof during account opening and loan underwriting.
Corporate legal or compliance teams preparing records for state filings or contract counterparty due diligence.
Accountants and tax preparers needing owner identification for tax reporting and backup withholding determination.

Different industries emphasize distinct fields (tax identifiers, control authority, or notarization); complete and accurate responses speed processing and reduce audit risk.

Core components to include in a professional certification

A professional Certification of Business Owners is concise but complete. Include precise owner identification, ownership percentages, control descriptions, explicit certification language, signature lines, and any required witness or notary blocks.

Owner Identity

Full legal name, business role, and any DBA or trade names necessary to match government IDs and registration records.

Ownership Interest

Exact ownership percentage or share count with a clear date of determination to avoid ambiguity in distributions and control.

Tax Identifier

TIN or EIN data, often redacted for public exchange; provide full TIN to banks or regulators when legally required.

Control Description

State the owner’s authority (manager, director, voting rights) and whether decision-making is joint or sole.

Certification Statement

Explicit attestation language confirming truthfulness under penalty of perjury and noting the effective date of the statement.

Signature & Notary

Signature block with printed name, title, date, and any required notary acknowledgement or witness lines per recipient rules.

Essential fields required on the certification

Owner legal name: Exact name

Ownership percentage: Percent or shares

TIN / EIN: TIN or EIN

Owner address: Street, city, state, ZIP

Role / title: Manager, director, officer

Effective date: MM/DD/YYYY

Step-by-step: preparing and submitting the certification

Follow these core steps to complete a valid Certification of Business Owners, whether on paper or electronically.

01

Gather documents: Collect IDs, formation documents, and TIN/EIN verification.
02

Complete form: Enter all required fields using specified formats and accurate dates.
03

Authenticate signer: Have the authorized signer sign; obtain notarization if required.
04

Submit copy: Send certified copy to the requesting bank, regulator, or internal records.

Configuring an online workflow for electronic certification

When completing the certification online, set up authentication, fields, and delivery to meet recipient requirements and legal standards.

Authentication method	Email link \| SMS code \| ID verification
Signature fields	Signer name \| signature \| date fields
Conditional fields	Show notary block only when required
Notary configuration	Remote or in-person notarization support
Completion delivery	PDF certificate \| audit trail

Where to file or send the completed certification

The destination depends on the requester; follow their directions and retain a certified copy for records.

Banks and lenders: Provide certified copy to account or loan officer.
State agencies: Submit with filings if required by state registration rules.
Contract counterparties: Attach to vendor onboarding or contract file.
Internal records: Keep original in corporate compliance files.

Technical considerations for eSubmission and sharing

Ensure your eSignature platform supports required authentication, file formats, and audit trails before eSubmitting the certification.

File formats: PDF, DOCX supported
Integrations: Salesforce, NetSuite, Microsoft 365
Audit data: Timestamp, IP, signer info

Use a system that preserves a tamper-evident signed PDF and an audit trail to satisfy recipient and regulatory recordkeeping expectations.

Timing and typical deadlines for providing the certification

Response times vary by requester; provide the certification promptly to avoid processing delays or account restrictions.

On request:

Provide certification when a bank or partner requests it.

At formation:

New entities include owner details with initial filings as needed.

Ownership change:

Update certification promptly after ownership changes; many institutions expect within 30 days.

Annual review:

Some banks request annual recertification for KYC controls.

Retention note:

Retain a copy per applicable retention rules.

Common errors to avoid when preparing the certification

Using nicknames or misspelled names that do not match government IDs, causing verification failure and delays.
Omitting exact ownership percentages or providing rounded figures that create ambiguity in control or tax reporting.
Failing to sign or date the certification or signing before required notarization is completed when a notary block is present.
Sending a redacted TIN when the recipient required the full TIN for backup withholding or tax reporting purposes.

Penalties and other risks of incorrect or missing certifications

Backup withholding: 24% withholding

Information return fines: IRC §6721 penalties

Account restrictions: Bank holds or closures

Contract risk: Withheld payments or termination

Regulatory exposure: Enhanced scrutiny or audit

Fraud allegation: Civil or criminal risk

Typical eSignature provider comparison for Certification of Business Owners workflows

Pricing and feature availability influence platform choice for signing certifications; below is a concise comparison of starting price and key capabilities.

	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	Yes — 7-day trial, no card required	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes	Yes	Yes	Yes	Varies by plan
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently asked questions about Certification of Business Owners

Answers to common questions about validity, notarization, signatures, corrections, retention, and submission processes.

Need help? Contact support

Are electronic certifications legally binding?
Yes. Electronic signatures are legally recognized under the ESIGN Act (15 U.S.C. §7001) and by UETA in most states when intent, consent, attribution, and retention are satisfied.
When is notarization required?
Notarization depends on the recipient or state law. Some banks or state filings require notarized attestations; verify the requirement before signing to avoid re-execution.
Who may sign the certification?
An authorized officer, manager, or other person with documented authority should sign. Improper signatory authority can invalidate the certification for the requester.
How do I correct an error after signing?
Do not alter the original signed copy. Execute an amended certification or a signed errata statement referencing the original effective date and distribute to recipients.
How long must I keep the certification?
Follow applicable retention rules: IRS generally 3 years (IRC §6501(a)), HIPAA 6 years (45 CFR §164.530(j)), and industry or state requirements that may be longer.
Can I submit the certification electronically to banks?
Many banks accept securely signed PDFs with a verifiable audit trail. Confirm the bank’s acceptance policies and any required authentication or notarization.

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