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Principal Information Form

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PRINCIPAL INFORMATION FORM AND BUSINESS AGREEMENT

Parties and Recitals

Company Name:     Principal Name:

WHEREAS, Company requires identification, ownership and background information of individuals who qualify as principals in order to comply with contractual, regulatory and commercial requirements; and

WHEREAS, Principal represents that Principal is authorized to provide such information, certifies the accuracy of the information provided below, and agrees to the business terms set forth herein;

NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Principal Information Form and Business Agreement, the parties agree as follows:

Principal Information

Date of Birth:

SSN / TIN (last 4):

Phone:

Entity / Business Information

Entity Type:

Ownership and Authority

Percent Ownership Held by Principal:

Principal holds authority to bind the entity in business matters described in this form:

Background & Compliance

Has the Principal ever been convicted of a felony or been subject to licensing discipline that would materially affect performance of duties?

Scope of Work

Describe the principal duties, responsibilities or services to be provided (if applicable). This description may be used to determine applicable indemnities, insurance, and compliance requirements.

Payment Terms (if applicable)

Compensation Amount:

Late Payment Fee:

Term and Termination

Term Commencement Date:     Term Expiration Date:

Either party may terminate this agreement for convenience upon written notice to the other party delivered at least days prior to the effective termination date. Termination for cause may be immediate if the non-breaching party provides written notice describing the breach and the breaching party fails to cure within a commercially reasonable period.

Confidentiality

Principal and Company acknowledge that during the course of their relationship each may receive or have access to Confidential Information. Confidential Information includes, without limitation, business plans, financial data, trade secrets, customer lists, pricing, technical information and all other non-public information disclosed in any form. Each party shall: (a) hold Confidential Information in strict confidence; (b) use Confidential Information solely to perform obligations under this form; and (c) not disclose Confidential Information to any third party except to employees, agents or advisors on a need-to-know basis who are bound by confidentiality obligations no less protective than those in this section. Upon termination or request, each party shall promptly return or certify destruction of Confidential Information. Monetary damages may be inadequate relief for actual or threatened breach; injunctive or equitable relief shall be available in addition to other remedies.

Governing Law

This form and any dispute arising out of or relating to it shall be governed by and construed in accordance with the laws of the state of , without regard to conflict of law principles. The parties submit to the exclusive jurisdiction of the state and federal courts located in that state for resolution of disputes.

Entire Agreement

This Principal Information Form, together with any attachments, exhibits and written schedules executed by the parties, constitutes the entire agreement between Company and Principal with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written. No amendment or waiver shall be effective unless in writing and signed by an authorized representative of each party.

Certification and Authorization

Principal certifies that the information provided in this form is true, complete and correct to the best of Principal's knowledge and understands that providing false or misleading information may constitute a material breach and may subject Principal to legal liability. Principal authorizes Company to verify any information provided herein and to request background, credit and reference checks as reasonably necessary for regulatory compliance or business purposes.

Company Printed Name:

By:

Date:

Principal Printed Name:

By:

Date:

Enter text✕

What the Principal Information Form Is and When it's Used

The Principal Information Form collects identifying and authority details about an individual or entity principal for corporate filings, vendor onboarding, banking, licensing, or regulatory compliance. It typically captures full legal name, title, percentage ownership, contact information, tax identification (TIN/SSN as required), and a signature block. Organizations use this form to verify who can act on behalf of a company, to meet know-your-customer (KYC) requirements, and to support filings where a principal's identity and authority must be documented. Electronic completion and secure eSigning are recognized under ESIGN and UETA for most uses.

Why a Complete Principal Information Form Matters

A correct Principal Information Form establishes legal authority, reduces onboarding friction, and supports compliance with tax, banking, and licensing rules while preserving an audit trail for future disputes or audits.

Why a Complete Principal Information Form Matters

Who Typically Prepares and Reviews This Form

The completed form is retained by requesters and often attached to corporate records, account files, or regulatory submissions.

  • Corporate legal and governance teams responsible for documenting officer and director authority for filings and contracts.
  • Banking and compliance officers conducting KYC/AML reviews when opening accounts or authorizing transactions.
  • Brokers, title agents, and licensing specialists collecting verified principal details for registrations and closings.

Core Components Included on a Professional Principal Information Form

A well-structured form groups identity, authority, and verification details so reviewers can quickly confirm signing authority and regulatory eligibility.

Principal Identity

Full legal name and any DBA names, as shown on government-issued identification, to avoid mismatches during verification and KYC checks.

Contact Details

Primary business address, mailing address if different, phone number, and business email used for notifications and legal correspondence.

Ownership

Ownership percentage, equity class, and whether the principal is a beneficial owner for banking and tax reporting purposes.

Role & Authority

Official title, scope of authority (signing limits, contracting authority), and whether the principal can bind the entity legally.

Verification Data

Required supporting identifiers such as SSN/TIN, date of birth, or corporate ID numbers used for background checks and tax reporting.

Signature & Date

Signature block with printed name, date, and capacity; space for notarization or witness information when required.

Step-by-Step: Complete and Submit the Form

Follow these sequential steps to reduce errors and speed processing when preparing a Principal Information Form.

  • 01
    Gather Documents: Collect ID, corporate formation documents, and TIN evidence before starting.
  • 02
    Enter Details: Complete all required fields using exact legal names and correct formats.
  • 03
    Attach Support: Upload requested supporting documents such as Articles of Organization or government ID.
  • 04
    Sign and Submit: Sign in the designated block and send to the requesting party or file as directed.

Configuring an Online Principal Information Workflow

Configure the online template to require key fields, set authentication levels, and attach required support documents for efficient processing.

Field | Configuration Required | Validation rules | Attachments
Template Name Principal Information Form template for reuse
Required Fields Full name, title, TIN, signature
Conditional Logic Show notarization block only if state requires
Authentication Email plus SMS or KBA for higher assurance

Typical eSubmission and Routing Process

A standard online flow reduces manual handoffs: upload, tag fields, authenticate, sign, and archive with an audit trail.

  • Upload Document: Sender uploads the PDF or DOCX template.
  • Place Fields: Add name, date, signature, and attachment fields.
  • Add Signers: Enter signer emails or generate signing links.
  • Send & Archive: Send for signature and capture certificate of completion.

Technical Requirements for Digital Completion and Signing

Use a platform that provides audit trails, conditional fields, and configurable authentication. Many solutions integrate with CRM, cloud storage, and HR systems to automate intake and retention.

  • File Formats: PDF and DOCX supported; maintain original formatting.
  • Browser & Device: Modern browsers and mobile devices recommended.
  • Integrations: Connectors available for Salesforce, NetSuite, Google Workspace.

Security and Compliance Elements to Include

Encryption: TLS and AES-256
Access Controls: Role-based permissions
Audit Trail: Tamper-evident event log
HIPAA BAA: Required for PHI
Data Residency: Specify jurisdiction
Authentication: Email, SMS, or KBA

Common Preparation Mistakes to Avoid

  • Entering shortened or nicknames instead of the full legal name, which often causes identity verification failures and processing delays.
  • Failing to attach required documents such as formation records or proof of TIN, leading to requests for supplemental information.
  • Skipping notarization or witness steps when state or transaction rules require them, resulting in rejected filings or unenforceable signatures.
  • Using inconsistent dates or backdating entries, which can create legal disputes and undermine the document's reliability.

Potential Consequences of Incorrect or Incomplete Forms

Delayed Approval: Processing holds and operational delays
Backup Withholding: 24% withholding risk
Regulatory Fines: Fines or administrative penalties
Contract Risk: Enforceability questions in disputes
Banking Restrictions: Account limitations or frozen activity
Tax Reporting Errors: Incorrect IRS filings and penalties

Typical Timing and Processing Expectations

Timing depends on the receiving entity, the need for notarization, and whether supporting documents are included; plan for verification and review time.

Provide Upon Request:

Submit immediately when asked to avoid service delays

Filing Deadlines:

Meet entity-specific filing schedules tied to registrations or renewals

Notarization Window:

Complete notarization near signing date to preserve validity

Processing Time:

Allow 3–10 business days for verification in typical cases

Record Attachment:

Attach form to corporate files and related filings

eSignature Platform Pricing and Feature Snapshot

Compare common pricing and capability criteria for eSignature vendors. signNow is listed first for direct feature comparison across typical plan characteristics.

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 trial Varies Varies Varies Varies
Bulk Send Yes Yes Yes Yes Yes
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions and Troubleshooting

Answers address common issues: identity mismatches, notarization needs, eSignature validity, and document retention guidance.


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