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Intuit
4 helpful votes

Principal officer verification for Payroll IDV holds

We are continuing to improve security by mandating that every employer enter their principal officer's information (Name, Social Security number, and date of birth) along with their bank information. This is in compliance with the Office of Foreign Asset Control (OFAC) that falls within the Executive Branch of the US. Treasury Department and the Anti-Money Laundering Act (AML).

Why is this being required?

This is a check required by the U.S. Government to fight the funding of terrorism and money-laundering activities. Federal law requires us to obtain, verify, and record information that identifies the principal officer listed on an account used for Electronic Services, including direct deposit. If the principal officer is a nonresident alien, the employer needs to provide additional documentation for review by the Compliance Team.

Turnaround time for verification varies from the time all updates have been made and documentation is received. Errors, inaccurate or missing information will delay the verification process.  Generally, it takes 48 business hours, but please note that it can take longer.

Additional documentation

Additional documentation may be required in order to verify the identity of the primary principal of the company. You will be notified of these additional requirements via email. These requirements can include updating the primary principal's information on file and providing documentation for the primary principal.

Acceptable documentation

The valid, unexpired government issued ID must be legible and must have an expiration date listed.

U.S. Online and Desktop Accounts

  • U.S. passport or foreign passport
  • Permanent Resident Alien Card or Alien Registration Card (Form I-551)
  • Driver's license or ID card issued by a U.S. state
  • U.S. Military card
  • Native American Tribal document

Turnaround time for verification is 48 business hours from the time all updates have been made and documentation is received. Errors, inaccurate or missing information will delay the verification process.

If your account is on hold due to a security check and have additional questions, please contact Support ( USA / Canada) for assistance. We'll guide you through completing the set-up for your account and we'll arrange for you to send the additional documentation to us.

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