If you're onboarding custom accounts in the United States, Brazil, Canada and Singapore, the information below is relevant to you.
Background
Payments regulations aim to create a safer, more secure financial ecosystem by helping to prevent crimes such as money laundering, fraud and tax evasion. Financial regulators around the world enforce Know Your Customer (KYC) requirements to ensure that identity information is collected, verified and maintained from certain types of businesses, and for any individuals who ultimately own, control or direct the business. These requirements are frequently updated by financial service regulators, card networks and other financial institutions.
Roadmap
So far, the countries listed in the table below are set to update their onboarding requirements in 2023 and 2024. If you have connected accounts operating in any of these countries, you may need to update your Stripe integration. See the Definitions section below for more information about the specific requirements.
Country |
Key dates |
Resources |
United States (US) |
- Updated requirements comms: October 2023
- Future requirements backfill: January 2024
- New users deadline: March 2024
- Existing users deadline: April 2024
|
|
Canada (CA) |
- Updated requirements comms: February 2024
- Future requirements backfill: March to May 2024
- New users deadline: June 2024
- Existing users deadline: August 2024
|
|
Brazil (BR) |
- Updated requirements comms: May 2024
- Future requirements backfill: June 2024
- New users deadline: August 2024
- Existing users deadline: October 2024
|
|
Singapore (SG) |
- Updated requirements comms: January 2024
- Future requirements backfill: March 2024
- New users deadline: April 2024
- Existing users deadline: June 2024
|
|
The above roadmap may be subject to change due to Stripe's prioritisation and/or the changing regulatory landscape. We'll let you know if there are any changes to the countries in scope or their associated deadlines.
Definitions
Key dates
-
Updated requirements comms: We'll send you an initial email for each country, detailing the specific incremental requirements that must be implemented for your users and verified in order to be compliant with financial service regulators, card networks and other financial institutions.
-
Future requirements backfill: In the Connect API, we'll start to populate the `future_requirements` parameter for your connected accounts that need updated information by the dates specified above, which may trigger several webhooks to fire (account.updated, capability.updated and/or person.updated).
-
New users deadline: The date by which you'll need to have updated your integration to meet the incremental requirements for newly onboarded users. Failure to meet these integration requirements by the set deadline will prevent new users from onboarding to your platform.
-
Existing users deadline: The date by which you'll need to have resolved all future requirements for your existing connected accounts (i.e. those created before the new users deadline or before you've finished updating your integration). This date will trigger all outstanding future requirements to become current requirements. Payouts and charges will be paused for any existing connected accounts which have not been updated accordingly.
Status
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Not started: We are preparing for the upcoming onboarding changes by gathering requirements, building compliance plans and creating documentation to assist you
-
Action required: We have sent out integration guides and schedules for the backfill of future requirements
-
Deadline passed: At least one of the deadlines for remediating new or existing users has passed
Learn how to keep your accounts compliant
Once we have notified you about the new requirements for a particular country, you'll be able to see an overview of the actions that you'll need to take and their associated deadlines on your Stripe Dashboard.
You can follow our guide to update your integration to ensure that your accounts are compliant.