When you apply to accept digital payments through Autobooks, we will receive much of the information we need to process your request from your online banking provider. Any additional information we may request is essential to create a comprehensive business profile for our review process. By providing complete details, you increase the likelihood of your business being approved to accept digital payments through Autobooks.
Here are a few definitions for some of the items we typically request:
What is an SS4? - An SS4 form is provided by the IRS when a business applies for their EIN (Employer Identification Number). Here is an article from the IRS about your SS4 form. Sole proprietorships (including those operating under a DBA) that do not have employees are not required to have an EIN, as the owner's Social Security Number may be used in its place.
What is a 501(c)3? - A 501(c)3 form confirms your tax-exempt status as a nonprofit organization.
What is a DBA? - A DBA (Doing Business As) filing is required in order to operate under any business name other than your true or legal business name. A DBA can be called different things depending on the state and county you do business in. You may find it labeled as an "Assumed Name Certificate" or "Fictitious Name Filing" as well. If you don't have a copy on hand, you should be able to request one from your Secretary Of State website to find out how.
What is an SOS filing? - Your SOS (Secretary of State) filing is an official document provided after you have registered your business with the state. The document's title will vary depending on your business structure. For example, LLCs may have an "Articles of Organization" while corporations may have an "Articles of Incorporation".
Most businesses are required to have an SOS filing except for sole proprietorships and partnerships, although this can vary by state for unincorporated nonprofit organizations and government agencies. Most states allow you to look up your filing on the Secretary of State website.
Why do you need my Social Security Number/home address/Date of Birth? - As a part of our standard due diligence, Autobooks does need to confirm the identity of the primary business owner or account administrator. Please know that your data and information is protected and only used for this purpose.