Is an electronically signed SOI legally valid?

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

When is notarization required?

Notarization depends on the underlying instrument. If the SOI supports a deed, power of attorney, or state-specific filing that requires notarization, follow state rules and RON guidance where permitted.

How do I correct errors after signing?

If minor, execute a corrected SOI with a dated signature and note the correction. For substantive corrections, consider re-execution with an amendment or addendum signed by authorized parties.

Who must sign the SOI?

An authorized representative with authority to bind the entity should sign. Document title and authority in the signature block to avoid disputes over signatory power.

Can the SOI include personal health data?

Only include PHI when necessary and ensure HIPAA safeguards are in place, including a Business Associate Agreement where applicable and six-year retention per 45 CFR §164.530(j).

How long should completed SOIs be stored?

Follow the longest applicable retention rule—IRS 3 years (IRC §6501(a)), HIPAA 6 years (45 CFR §164.530(j)), or specific state or industry requirements.

Client SOI Form

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

CLIENT SOI FORM — STATEMENT OF INFORMATION AND SERVICES AGREEMENT

Parties and Contact Information

Client Name:

Client Address

Client Contact Phone

Client Email

Service Provider Name:

Provider Address

Provider Contact Phone

Provider Email

Recitals

WHEREAS, Client desires to retain the services of Service Provider to perform certain professional services described below; and

WHEREAS, Service Provider represents that it has the qualifications, experience, and resources necessary to perform such services and agrees to provide such services under the terms and conditions set forth in this Agreement; and

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows.

Scope of Work

Service Provider shall perform the services described below in a competent and professional manner consistent with industry standards:

Payment Terms

Total Contract Amount:

Payment Schedule / Invoicing

Late Payment Fee: A late fee of per month on overdue balances, or a flat fee of , whichever is greater, shall apply to any undisputed amount not received within days after the invoice due date.

Term and Termination

Effective Date: . Term shall commence on the Effective Date and continue until End Date: , unless earlier terminated in accordance with this Agreement.

Either party may terminate this Agreement for convenience upon providing the other party with days' prior written notice. Either party may terminate immediately for material breach if such breach remains uncured for days after written notice specifying the breach.

Confidentiality

Each party acknowledges that during the term of this Agreement it may receive confidential or proprietary information of the other party ("Confidential Information"). Confidential Information includes non-public business information, financial data, technical information, and client lists. The receiving party shall (i) protect Confidential Information with at least the same degree of care it uses to protect its own confidential information, (ii) use Confidential Information solely to perform its obligations under this Agreement, and (iii) not disclose Confidential Information to any third party except to its employees, contractors, or professional advisors who have a need to know and who are bound by confidentiality obligations at least as restrictive as those herein. Confidential Information shall not include information that is or becomes publicly available through no fault of the receiving party, is rightfully received without restriction, or is independently developed.

Representations; Indemnity; Limitation of Liability

Each party represents that it has full authority to enter into this Agreement. Service Provider agrees to perform services in a professional manner. Client agrees to provide timely access to information and approvals. Each party shall indemnify the other against third-party claims arising from its gross negligence or willful misconduct. Except for liability arising from willful misconduct, fraud, or breach of confidentiality, neither party shall be liable for consequential, incidental, or punitive damages; aggregate liability shall be limited to the amounts actually paid by Client to Service Provider under this Agreement in the twelve (12) months preceding the claim.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of law principles. Any dispute arising out of or related to this Agreement shall be resolved in the state or federal courts located in that State, and the parties consent to personal jurisdiction and venue therein.

Entire Agreement; Amendments

This Agreement, together with any exhibits, schedules, and attachments expressly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter and supersedes all prior agreements, understandings, and communications, whether written or oral. Any amendment or modification of this Agreement must be in writing and signed by authorized representatives of both parties.

Additional Provisions

Special Conditions / Additional Instructions

By signing below, each party certifies that the information provided in this Client SOI Form is true and accurate to the best of its knowledge and that the signatory is authorized to bind the party.

Client:

By:

Date:

Service Provider:

By:

Date:

Client Title / Role

Provider Title / Role

What the Client SOI Form Is and when it’s used

The Client SOI Form (Statement of Information) is a structured intake document used to collect essential client details such as legal name, ownership, contact information, tax identifiers, and attestations needed for compliance and onboarding. Organizations use it during client intake, KYC checks, vendor setup, or pre-contract due diligence to create a single authoritative record. When completed and retained correctly the form supports auditability, reduces onboarding friction, and establishes a clear point-in-time record of client facts that regulatory or contractual processes may rely on. ESIGN (15 U.S.C. §7001) and UETA generally permit electronic completion where state law allows.

Why a clear Client SOI Form matters

A complete SOI centralizes client identity and contractual facts, reduces repeated data requests, and supports compliance with tax, AML, and privacy obligations while creating an auditable record for internal controls and third-party review.

Who typically completes the Client SOI Form

Different teams collect Client SOI forms as part of onboarding, compliance, or contracting workflows depending on industry and role.

Compliance teams — collect ownership, beneficial owner details, and verification documents for KYC and AML checks.
Sales and account onboarding — gather billing, contact, and contractual data to set up accounts and services quickly.
Finance and tax departments — record TINs, W-9 requests, and payment instructions for accurate reporting.

Centralizing responsibility and defining who owns the SOI at each stage reduces duplication and speeds downstream workflows.

Core elements to include in a professional Client SOI Form

A practical SOI is concise but comprehensive: it balances core identity fields, attestations, and attachments to support verification and recordkeeping without over-collecting personal data.

Client identification

Legal name, DBA, and government ID numbers for clear entity or individual identification and matching.

Ownership details

Names and percentage ownership for beneficial-ownership transparency and AML compliance.

Contact and billing

Primary contact, mailing address, invoice remit-to address, and preferred payment method.

Tax and compliance

TIN/EIN, W-9/W-8 status, and any tax-residency declarations needed for reporting.

Attestations

Signed declarations for accuracy, authority to sign, sanctions screening, and data-consent statements.

Attachments

Supporting documents like government ID, formation docs, W-9, or proof of address where required.

Step-by-step: completing a Client SOI Form

Follow a clear sequence to collect, verify, and store the completed SOI to maintain auditability and speed onboarding.

01

Prepare form: Select the correct SOI template and required attachments.
02

Collect details: Request legal name, ownership, TIN, address, and contact info.
03

Verify identity: Check IDs, formation documents, and run required screening checks.
04

Sign and retain: Obtain authorized signature and save with an audit trail.

Typical online workflow settings for a Client SOI Form

Configure fields and routing to match your compliance and operational requirements before sending the form for signature.

Field	Configuration
Authentication method	Email link \| SMS code \| KBA
Routing order	Sequential or parallel signer order
Reminders	Auto reminders every 3 days
Attachments required	W-9 or ID upload enforced

How digital completion and eSubmission typically flow

Digital SOI workflows follow a predictable path from sender configuration through signer authentication to final archival and audit.

Upload document: Sender uploads SOI and attaches required supporting files.
Place fields: Add name, signature, date, and attachment fields where needed.
Send to signer: Deliver via email link or secure signing portal.
Capture audit trail: Record timestamps, IPs, and authentication events.

Technical considerations for electronic SOI completion

Select a platform and settings that match legal, integration, and security needs before wide distribution.

Integrations: CRM and ERP integration reduces duplicate entry.
File formats: Accept PDF, DOCX for fillable fidelity.
Authentication: Support for SMS or ID verification recommended.

Ensure the chosen platform supports audit trails, secure storage, and required compliance frameworks for your industry.

Security and compliance features to require

Encryption: TLS 1.2/1.3 and AES-256

Audit trail: Timestamped action log

HIPAA BAA: Required for PHI handling

Access control: Role-based permissions

Retention policy: Configurable legal hold

Two-factor: MFA for admin accounts

Key risks and legal consequences of errors

Incorrect TIN: Triggers backup withholding and tax delays

Late reporting: IRC §6721 penalties for late/inaccurate info returns

Incomplete SOI: Leads to compliance audit findings

Unauthorized signature: May render agreements voidable

Missing notarization: Invalidates certain state instruments

Privacy breach: HIPAA or state privacy fines possible

Common mistakes that slow SOI processing

Collecting inconsistent names across IDs and tax documents, which delays verification and may require re-execution.
Omitting ownership percentages or beneficial owner details, triggering additional KYC follow-up and possible onboarding rejection.
Using vague attestations without signature authority confirmation, leaving the organization exposed to disputes over authority.
Failing to attach required supporting documents (W-9, formation papers), increasing manual review and audit risk.

Timing expectations for issuing and updating SOI forms

Establish clear deadlines for initial completion and periodic updates to reduce stale data and reporting gaps.

Initial completion window:

Complete SOI within 10 business days of client acceptance.

Annual update:

Request an updated SOI once per 12-month period.

Event-triggered updates:

Require new SOI upon ownership or control changes.

W-9 requests:

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

Audit readiness:

Retain accessible copies for all governmental audits and inquiries.

Pricing and feature snapshot for eSignature vendors relevant to Client SOI workflows

Compare basic pricing and key capabilities when selecting an eSignature provider to collect and retain Client SOI forms; signNow appears first as shown.

	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	Limited
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes (BAA)	Yes (BAA)	Yes (BAA)	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Real-world scenarios illustrating Client SOI use

Practical examples show how teams apply SOI forms in onboarding, compliance checks, and contract formation.

Optica Ventures (Onboarding)

A small investment firm standardized an SOI for new portfolio companies to capture ownership

Reduced verification rework by centralizing documents
The firm used a single template to reduce repeated client requests and speed account activation.

Fertility Centers (Healthcare)

A multi-site clinic integrated SOI collection with HIPAA workflows

Included BAA and consent fields in the SOI
This ensured consistent collection of patient consent and provider credentials across clinics.

FAQs and troubleshooting for Client SOI Forms

Answers to frequent questions about legality, signatures, corrections, and retention to help administrators avoid common pitfalls.

Need help? Contact support

Is an electronically signed SOI legally valid?
Yes. Electronic signatures are legally enforceable under the ESIGN Act (15 U.S.C. §7001) and UETA in adopting states, provided intent, consent, attribution, and retention requirements are met.
When is notarization required?
Notarization depends on the underlying instrument. If the SOI supports a deed, power of attorney, or state-specific filing that requires notarization, follow state rules and RON guidance where permitted.
How do I correct errors after signing?
If minor, execute a corrected SOI with a dated signature and note the correction. For substantive corrections, consider re-execution with an amendment or addendum signed by authorized parties.
Who must sign the SOI?
An authorized representative with authority to bind the entity should sign. Document title and authority in the signature block to avoid disputes over signatory power.
Can the SOI include personal health data?
Only include PHI when necessary and ensure HIPAA safeguards are in place, including a Business Associate Agreement where applicable and six-year retention per 45 CFR §164.530(j).
How long should completed SOIs be stored?
Follow the longest applicable retention rule—IRS 3 years (IRC §6501(a)), HIPAA 6 years (45 CFR §164.530(j)), or specific state or industry requirements.

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