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PEP Declaration Form

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PEP DECLARATION FORM

WHEREAS, the undersigned individual provides personal information to the Recipient for the purpose of account opening, onboarding, transaction monitoring and regulatory compliance; and

WHEREAS, the Recipient is required to identify and assess the risk associated with Politically Exposed Persons (PEPs), immediate family members and close associates, and to record the declarant's status for enhanced due diligence where applicable; and

WHEREAS, the undersigned makes this declaration to confirm whether the undersigned is, or is related to, a PEP and to provide details necessary for the Recipient's compliance with applicable legal and regulatory obligations.

Declarant Information

Date of birth:

PEP Status Declaration

Please indicate the applicable status by checking the appropriate box(es). If none apply, check "No".

No — I am not a politically exposed person, immediate family member, or close associate of a politically exposed person.

Yes — I currently hold, or have held in the last 12 months, a prominent public function (Self / I am the PEP).

Yes — I am an immediate family member of a person who holds or has held a prominent public function.

Yes — I am a close personal or business associate of a person who holds or has held a prominent public function.

Office held — Period (start and end): to

Declaration and Certification

I, the undersigned, declare that the information provided in this form is true, complete and correct to the best of my knowledge. I understand that the Recipient will rely on this representation for compliance with applicable laws and regulations relating to anti-money laundering, counter-terrorist financing and similar obligations. I agree to promptly notify the Recipient if any information provided in this declaration changes.

I acknowledge that providing false or misleading information may give rise to civil or criminal liability under applicable law and may result in the Recipient taking regulatory, administrative or contractual measures, including account restrictions or termination.

Confidentiality

All information provided in this declaration will be handled in accordance with the Recipient's confidentiality and data protection policies, subject to disclosure where required by law or regulatory authority. The Recipient may retain this declaration and the information contained herein for the period required by applicable law.

Governing Law; Entire Agreement

This Declaration shall be governed by and construed in accordance with the laws of the jurisdiction in which the Recipient is incorporated or otherwise conducts business, without regard to conflict of laws principles. This Declaration, together with any accompanying forms or notices executed in connection with it, constitute the entire understanding between the parties with respect to the subject matter herein.

Acknowledgement by Declarant

I certify under penalty of perjury (or equivalent standard under applicable law) that the statements made in this form are true and correct.

Declarant:

By:

Date:

Authorized Representative:

By:

Date:

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What the PEP Declaration Form Is

A PEP Declaration Form is a standardized statement used during client onboarding and periodic reviews to disclose whether an individual is a Politically Exposed Person (PEP), or closely related to one. Financial institutions, regulated entities, and some legal providers collect this information to satisfy anti‑money‑laundering (AML) and Know Your Customer (KYC) obligations, trigger enhanced due diligence where required, and document the decisioning chain for risk teams. The form typically captures identity details, the public office held, relationship to any PEP, source of funds, and a signed certification attesting to accuracy.

Why a Clear PEP Declaration Matters

Accurate PEP declarations enable regulated organizations to identify higher‑risk relationships, meet AML/KYC obligations, document enhanced due diligence, and reduce regulatory exposure. They help create an auditable record for compliance reviews and investigations.

Why a Clear PEP Declaration Matters

Typical Users and Signers

Several roles commonly complete or rely on PEP Declaration Forms during onboarding and reviews.

  • Compliance teams responsible for AML/KYC screening and enhanced due diligence.
  • Onboarding officers or relationship managers collecting identity and source‑of‑wealth details.
  • Clients or authorized representatives completing the declaration on behalf of an account holder.

Each signer should provide accurate identifying information and certify the truthfulness of statements to avoid downstream compliance gaps.

Who Can Sign

Individual Signer

The account holder or person whose status is being declared must sign unless an authorized agent or legal representative is explicitly designated on record and permitted by the institution.

Authorized Agent

A person acting under a power of attorney or corporate officer may sign if the organization accepts such authority and retains supporting documentation verifying the signer’s delegation.

Security and Compliance Elements to Include

Encryption: TLS 1.2/1.3; AES‑256 at rest
Audit Trail: Timestamps, IP, action log
Access Controls: Role‑based user permissions
HIPAA BAA: Execute BAA if PHI present
Retention Rules: Retention and deletion policies
Regulatory Certs: SOC 2, ISO 27001 status

Step‑by‑Step: Completing the PEP Declaration

Follow these steps to ensure the form is complete, accurate, and compliant with KYC requirements.

  • 01
    Collect identity: Enter full legal name and government ID.
  • 02
    Declare status: Indicate PEP role, position, and country.
  • 03
    Disclose relationships: List family members or close associates.
  • 04
    Sign and date: Signer must certify accuracy with date.

Recommended Digital Workflow Settings

Configure the digital workflow to collect, verify, and retain PEP declarations consistently across onboarding.

Field Configuration
Identity check Require ID upload and automated verification
Authentication Email plus SMS code or stronger
Consumer disclosure Present ESIGN consent for consumer forms
Retention policy Automate archival per retention rules

Process Overview: From Collection to Record

A clear process reduces manual work and ensures auditability during compliance checks.

  • Capture: Collect form and identity documents securely
  • Screen: Run PEP and sanctions screening checks
  • Review: Trigger enhanced due diligence if needed
  • Store: Archive signed record with audit trail

Technical Considerations for eSubmission

Choose a platform that supports secure capture, audit trails, and required compliance controls.

  • File formats: PDF, DOCX accepted
  • Integrations: CRM and document storage
  • Authentication: Email, SMS, or stronger

Ensure the platform you use supports retention, export, and any regulatory attestations your compliance program requires.

Timing: When to Collect and Update Declarations

PEP status should be collected at key lifecycle points and updated whenever material changes occur in an individual’s public role or relationships.

Initial onboarding:

Collect PEP declaration during first account setup

Material change:

Update promptly upon role or relationship changes

Periodic review:

Include in KYC refresh cadence, typically annually

Pre‑transaction review:

Re‑check for high‑value or higher‑risk transactions

Record retention:

Retain signed declarations per record policy

Key Processing Milestones

The sequence below outlines typical stages from form submission through final retention and audit readiness.

01

Form Submission

Client supplies declaration and ID documents for screening.

02

Automated Screening

Systems run PEP, sanctions, and adverse media checks.

03

Enhanced Review

Compliance performs manual review when hits or elevated risk occur.

04

Final Filing

Signed record stored with audit trail and retention metadata.

Common Preparation Errors

  • Incomplete identity documents or poor image quality that prevent automated verification and force manual follow‑up.
  • Failing to list close associates or family members, which creates gaps in enhanced due diligence and may trigger compliance exceptions.
  • Using inconsistent naming conventions across forms and identity documents, causing mismatches in screening systems and delays.
  • Not updating the declaration after a material change in public office or relationship, exposing the institution to elevated regulatory risk.

Risks and Consequences of Inaccurate Declarations

Regulatory fines: Civil penalties and enforcement
Account restrictions: Freezing, closure, or monitoring
Reputational harm: Public disclosures and loss of trust
Operational delays: Extended onboarding and manual review
Legal exposure: Potential civil litigation risk
Sanctions risk: Missed matches to watchlists

Practical Examples of When a PEP Declaration Is Used

Real‑world scenarios illustrate common triggers for collecting a PEP Declaration Form.

Private Banking Onboarding

A prospective high‑net‑worth client completes onboarding and declares a family member is a senior foreign official

  • Screening flags the relationship and triggers enhanced due diligence
  • The bank documents source of funds, updates risk rating, and retains the signed declaration for audit.

Corporate Vendor Approval

A vendor completes a vendor risk form and indicates ownership by a PEP

  • Procurement requests supporting documentation and risk waiver
  • Legal reviews conflict disclosures and maintains the signed form in the vendor file.

Practical Tips for Accurate and Efficient Completion

Apply consistent controls and clear instructions to minimize errors and speed reviews.

Verify identity up front
Require government ID upload and automated verification where possible to reduce manual follow‑ups and ensure matches with screening systems.
Use clear, mandatory fields
Make critical fields required (PEP status, office held, relationship details) and provide examples within the form to avoid ambiguous responses.
Preserve an audit trail
Capture signer metadata (IP, timestamp, authentication method) and store the signed copy with access controls for compliance reviews.
Schedule periodic reviews
Include PEP declarations in regular KYC refresh cycles and require updates after material public role or relationship changes.

eSignature Pricing Snapshot for PEP Declaration Workflows

Compare common vendor pricing and capabilities to select a platform that meets security and compliance needs for PEP declarations.

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 Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

FAQs: Common Questions About the PEP Declaration Form

Answers to typical questions about completion, electronic signatures, updates, and recordkeeping for PEP declarations.


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