The Dashboard’s Accounts to review page shows the status of connected accounts impacted by any changes to verification requirements. To filter by country, click More filters > Verification requirement and then check the box for the country you want to see. Here's a pre-filtered link for Canada.

To make sure you’re up to date with the latest changes, we also recommend reviewing the new verification errors. And, you can listen for risk-related account updates via the Accounts API.

Deadlines

Custom:

• New Custom connected accounts: Starting November 6, 2024, new Canada-based connected accounts must meet updated requirements to receive payouts and continue accepting payments.
• Existing Custom connected accounts: If your connected accounts have not provided the required information by January 29, 2025 they will not be able to receive payouts. Their payments may be paused starting on February 19, 2025, if they still have outstanding requirements.

Visit your Dashboard for the latest due dates, as deadlines may vary for some of your existing connected accounts

All other connected accounts:

• New connected accounts created since February 1, 2024: Must meet the updated requirements during onboarding. Otherwise, they won’t be able to accept payments.
• Existing connected accounts: If they haven’t provided the required information, they won’t be able to receive payouts and/or accept payments as soon as the due date on their dashboard has expired.

Requirements for individual accounts will take effect on a rolling schedule. The dates listed above are the earliest possible deadlines.

FAQ

What accounts are affected?

The updated verification requirements apply to all connected accounts with the card_payments or transfers capability enabled in Canada.

How can I see which of my accounts require updated information?

See the status of affected connected accounts in the Dashboard's Accounts to review page. To filter by country click, More filters > Verification requirement and then check the box for the country you want to see.

What information is required to onboard new connected accounts in Canada?

Use the interactive form to see details of the required verification info for specific account configurations.

How do my existing accounts provide the new information required?

For connected accounts that have access to the Stripe Dashboard, to the Express Dashboard, or to the embedded notification banner, Stripe will contact the account directly with details about the business information they need to provide and the deadline to respond.

For Custom connected accounts, you will need to take action to help your connected accounts provide this information or provide it yourself. See the Canada Custom Accounts FAQ for more details.

What new information do they need to provide?

We're collecting additional information on persons and businesses associated with Stripe accounts in Canada, including:

• Phone number and title of account representative
• Names and email addresses of directors and business owners (for partnerships, an owner is defined as any individual owning 25% or more of the entity)
• A business phone number

We updated guidance related to the existing Tax ID requirement:

• For corporations, publicly traded companies, and partnerships, this field refers to the Registry ID, Corporation Number (7-digit number), or Québec Enterprise Number (NEQ) (10-digit number). Provide any one.
• For registered charities, the Tax ID refers to the 15-character Canada Revenue Agency program account number. The program identifier must be “RR.”

Additional verifications:

• Identity verification of company representatives is required for all businesses
• Legal entity verification is required for all businesses except individuals and sole proprietors
• Verification of directorship is required for corporations, registered charities, and non-profit organizations
• Verification of registration status is required for registered charities

If we can’t verify particular details, we may request additional documents. See a complete list of Acceptable Verification Documents for Canada.

What happens if my connected accounts don’t provide the required information?

If an account doesn't provide the required information by the listed due date, their ability to accept payments and receive payouts will be paused. Typically, the timeframe to provide updated information is 14 days from the due date to continue receiving payouts, and 28 days to continue accepting payments. However, that timeframe might vary for certain types of issues.

Why is Stripe updating verification requirements for these accounts?

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) released a new set of regulations in April, 2022 that requires Stripe to register as a money services business in Canada. This introduces additional Know Your Customer and Know Your Business requirements that impact connected accounts with either the card_payments or transfers capability.

Will requirements continue to change?

Yes. As regulatory requirements evolve globally, we expect our onboarding requirements to continue changing as well. If you use embedded onboarding components or Stripe-hosted onboarding, we’ll automatically update your onboarding flow to handle the latest verification requirements. If you use API-based onboarding, you’ll need to manually modify your onboarding flow whenever requirements change. Learn more about the different onboarding methods in our documentation.