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What are the AML and TFN/ABN requirements to open a Wealth Accelerator account?

Account Type Who must apply for the account? AML Requirements Which TFN or ABN is required?
Individual

Individual

E.g. Paul Smith

Individual Identification AML form 

  • Client’s name, DOB, and/or residential address
  • Verification section to include:
    • Document Issuer
    • Expiry date
    • Document number

OR
Certified ID

  • Valid and current ID
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

TFN

E.g. Paul  Smith's TFN

Joint

Each individual investor 

E.g. Paul & Ann Smith

Individual Identification AML form

  • Client’s name, DOB, and/or residential address
  • Verification section to include:
    • Document Issuer
    • Expiry date
    • Document number

OR
Certified ID

  • Valid and current ID
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

TFNs

E.g. Paul Smith's TFN and Ann Smith's TFN

Sole Trader using a business name

The individual who owns the business name

E.g. Paul Smith

Individual Identification AML form AND Company AML form

  • Full name of Company
  • ACN
  • Verification section to include:
    • Document issuer / website
    • Document type
    • Issue / Search date

OR
Certified ID

  • Valid and current ID
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

Company TFN or ABN and CAN

E.g. Paul Smith's TFN

Company

The Company

E.g. Smith Co Pty Ltd

Individual Identification AML form AND Company AML form

  • Full name of Company
  • ACN
  • Verification section to include:
    • Document issuer / website
    • Document type
    • Issue / Search date

AND
ASIC Search

  • Full name of Company
  • ACN
  • State of registration

TFN or ABN and ACN for the company

E.g. TFN or ABN and ACN for Smith Co Pty Ltd

Self Managed Super Fund (SMSF) with individual trustee/s

The trustee/s of the SMSF

E.g. Paul & Ann Smith ATF Smith Super Fund

Australian Regulated Trusts Identification form

  • Full name of SMSF
  • Individual Trustee name
  • ABN
  • Verification section to include:
    • Document issuer / website
    • Document type
    • Issue / Search date

OR
Certified SMSF Trust Deed or Superfund Lookup

  • Full name of SMSF
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

Please note

  • The Superfund Lookup status must be ‘Complying’ before we can set up account

TFN or ABN for SMSF

E.g. TFN or ABN for Smith Super Fund

Self Managed Super Fund (SMSF) with corporate trustee

The corporate trustee of the SMSF

E.g. Smith Co Pty Ltd ATF Smith Super Fund

Australian Regulated Trusts Identification form

  • Full name of SMSF
  • Corporate Trustee name
  • ABN
  • Verification section to include:
    • Document issuer / website
    • Document type
    • Issue / Search date

OR
Certified SMSF Trust Deed or Superfund Lookup

  • Full name of SMSF
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

Please note

  • The Superfund Lookup status must be ‘Complying’ before we can set up account

TFN or ABN for SMSF and ACN for the corporate trustee

E.g. TFN or ABN and ACN for Smith Super Fund

Trust with individual trustee/s

The trustee/s of the trust

E.g. Paul & Ann Smtih ATF Smith Family Trust

Individual Identification AML form and Unregulated Australian Trust AML form

  • Full name of Trust
  • Individual Trustee name
  • Settler details
  • Verification section to include:
    • Document Issuer
    • Issue date

AND
Certified Trust Deed

  • Full name of Trust
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification
    • Number of pages in certification wording or each page to be certified or the certification must include ‘Original Document’.

Please note

  • Testamentary Trusts won’t have Trust Deeds. A Certified Probate can be provided instead.
  • Testamentary Trusts also will not require settler details

TFN or ABN for the trust

E.g. TFN or ABN for Smith Family Trust

Trust with corporate trustee

The corporate trustee

E.g. Smith Co Pty Ltf ATF Smith Family Trust

Individual Identification AML form and Unregulated Australian Trust AML and Australian Company AML form

  • Full name of Trust
  • Corporate Trustee name
  • Settler details
  • Verification section to include:
    • Document Issuer
    • Issue date

AND
Certified Trust Deed

  • Full name of Trust
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification
    • Number of pages in certification wording or each page to be certified or the certification must.

Please note

  • Testamentary Trusts won’t have Trust Deeds. A Certified Probate can be provided instead.
  • Testamentary Trusts also will not require settler details

TFN or ABN  for the trust and ACN for the corporate trustee

E.g. TFN or ABN and ACN for Smith Family Trust

Partnership

The principals of the partnership

E.g. Paul Smith & Mike Jones - Smith & Associates

Individual Identification AML form and Partnership AML form

  • Full name of Partnership
  • ABN
  • Verification section to include:
    • Document issuer / website
    • Issue / Search date
    • Document number

Please note: Netwealth requires the number of pages in the certification wording or each page of the partnership agreement to be certified.

AND

Certified Partnership document

  • Full name of Partnership
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

TFN or ABN for each partner OR

TFN or ABN for partnership

E.g. Paul Smith's TFN or ABN & Mike Jones' TFN or ABN OR

TFN or ABN for Smith & Associates

Association

Office bearer/s of the association

E.g. The Paul Smith Association

Individual Identification AML form and Association AML form

  • Full name of Association
  • ABN
  • Verification section to include:
    • Document issuer / website
    • Document type
    • Issue / Search date

Please note: Netwealth requires either the number of pages in the certification wording or each page of the Constitution or Rules of the Association to be certified

AND

Certified extract of Constitution or Rules of Association

  • Full name of Association
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

TFN or ABN for association

E.g. TFN or ABN for the Paul Smith Association

Investing for a child under the age of 18

The trustee/s for the child (often the child's parent/s or guardian)

E.g. Paul Smith ATF Billy Smith

Individual Identification AML form

  • Client’s name, DOB, and/or residential address
  • Verification section to include:
    • Document Issuer
    • Expiry date
    • Document number

OR
Certified ID

  • Valid and current ID
  • Certification wording includes:
    • Printed name of certifier
    • Signature of certifier
    • Qualification of certifier
    • Date of certification

TFN

E.g. Paul Smith's TFN

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