To have a US Stripe account, you must be incorporated in the US and have a valid physical US address. Stripe will verify your legal entity name, entity type, EIN, and business address on your articles of incorporation or other documents. P.O. Box addresses are not accepted. You can update your business address in your Stripe dashboard if it differs from the one on your articles of incorporation.
I received an email saying that I am missing some of the qualifications needed for a US Stripe account and my payouts have been disabled. What does Stripe need to verify to re-enable my payouts?
Stripe needs to verify that you’re incorporated in the US, and that you have a valid physical US address.
What information will Stripe check on my articles of incorporation or other documents?
Stripe checks that the information on your document matches the information on your Stripe account so please make sure all your account details are correct and up to date with special attention to:
- Legal entity name
- Legal entity type (Sole Proprietor, LLC etc)
- EIN
- Business address
Can Stripe accept a P.O. Box address as my business address?
Stripe requires a valid physical US address. We cannot accept a P.O. Box as a valid address.
What if the business address on my Stripe account is different to the address on my articles of incorporation?
If you are incorporated at a physical US address, you can update your business address. To do this, head to your ‘settings -> business settings’ in your Stripe dashboard. Alternatively, you can reply to the email with an additional document to verify the business address you provided on your account.
FAQs
To have a US Stripe account, you must be incorporated in the US and have a valid physical US address. Stripe will verify your legal entity name, entity type, EIN, and business address on your articles of incorporation or other documents.
Can a non US citizen open a US Stripe account? ›
To open a Stripe account, you'll need:
A physical location in the country of your EIN (which doola can provide!) A phone number in the US (through doola partners with a special discount) A Government ID from any country.
What are the requirements to open a Stripe account? ›
- A tax ID in that country.
- A physical location in that country at which you are able to receive mail (Cannot be a P.O. box)
- A phone number in that country.
- A government-issued ID, such as a passport or driver's license, from any country.
Do I need an SSN to create a US Stripe account? ›
If you have a US account and your business type is: Individual, Sole proprietor or Single membership LLC, we are required to collect your full personal tax ID - SSN or ITIN. If you do not have one of those, we may prompt you to enter your nationality. The nationality field is your country of citizenship.
What are the identity requirements for Stripe? ›
A passport scan for identity verification is always preferred and, in some cases, is required. When a Stripe account and an individual associated with that Stripe account (for example, Business Representative, Owner) are from different countries, Stripe only accepts a passport to verify identity.
What is required to successfully activate a US-based Stripe account? ›
To have a US Stripe account, you must be incorporated in the US and have a valid physical US address. Stripe will verify your legal entity name, entity type, EIN, and business address on your articles of incorporation or other documents. P.O. Box addresses are not accepted.
Can I have a Stripe account without a business? ›
You can use Stripe to sell a product if you have not established a separate business entity to do so. Stripe supports the following alternative business types that you can choose from when signing up: Sole proprietorship: If you do not have a separate entity and operate by yourself.
What is required for Stripe? ›
To transact on Stripe, Stripe must verify: Business identification (address and website ownership) and bank account information. Supportability of your business: what you sell, and if we can support your product/category. The overall risk level of your business.
Can anyone have a Stripe account? ›
You can sign up for a standard Stripe account if you are 13 years old or older. If you are under the age of 18, Stripe requires that a legal guardian add themselves as the account owner of your Stripe account before your account can accept charges and before we are able to transfer funds to your bank account.
Do I need a tax ID to use Stripe? ›
Stripe requires a verifiable Employer Identification Number (EIN) or Social Security Number (SSN) to use their services; individuals without an EIN are generally able to use their SSN instead. You must enter a verifiable tax ID number (Employer Identification Number or Social Security Number) in order to use Stripe.
In other words, yes, Stripe does report to the IRS. If you use the platform to collect payment for your goods or services, the agency will typically know how much you earned during each tax year. If you report a lower amount on your tax return, it will mail you a letter and investigate the discrepancy.
Why does Stripe want my social security number? ›
Stripe requires customers to provide their SSN and personal information for identity verification and regulatory compliance purposes. The company stores this information securely using industry-standard encryption methods and limits access to authorized personnel only.
Do you need a merchant ID for Stripe? ›
Since Stripe is a full-service payment-processing solution that offers the functionality of a merchant account, our users don't need to open a merchant account on their own and therefore are not given a merchant ID number.
What documents does Stripe ask for? ›
DrChrono Payments: Stripe documents for identify and home address verification
- Passport.
- Passport card.
- Driver license.
- State-issued ID card.
- Resident permit ID / U.S. Green Card.
- Border crossing card.
- Child ID card.
- NYC card.
What does Stripe require for individual? ›
Individual verifications
- Identity verification.
- Home address verifications.
- Some resources that you may find useful:
- Legal entity verification.
- Business address verification.
- Bank account verification.
- Domain verification.
- Some resources that you may find useful:
Does Stripe require a bank account? ›
💡 Only those with Admin or Owner permissions can add, edit, or delete bank account details. In order to received payouts from Stripe you must have a bank account linked in the Dashboard.
Can you open a US bank account if you are not a citizen? ›
Non-U.S. citizens can open bank accounts in the U.S., but may need to go through extra steps, especially if they're nonresidents. Some banks and credit unions accept alternative forms of identification, such as an Individual Taxpayer Identification Number (ITIN), for non-U.S. citizens to open accounts.
Can international people use Stripe? ›
If you run an international business, it's important to know what countries you can accept payments from. Stripe supports 44 countries and 135 currencies, offering competitive rates for each country.
Can I open a bank of america account if I m not a us citizen? ›
Yes. U.S. visa holders currently living in the U.S. may open an account in person at one of our financial centers. You must be able to provide both your permanent (foreign) and local address, as well as your ITIN (Individual Tax Identification Number).