Account Owners

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Creating AccountOwners is currently only required for our Tax Identity Verification offering.

In the TaxBit system, AccountOwner is your end user, who may have 1 or many accounts on your platform.

All AccountOwners are required to have a unique external_id, which can then be used to find a specific AccountOwner record in the TaxBit system. Names and emails are optional, but are included in the Tax Documentation Status Report within UMC.

Because multiple User records can be mapped to a single AccountOwner, you only need to collect a single copy of the appropriate Tax Documentation data, regardless of the number of accounts your end user has. Once Tax Documentation data has been collected for an Account Owner, TaxBit will use the verified PII on all Information Reporting and Withholding (IRW) forms it generates.

Creating an AccountOwner uses the standard Tenant scoped Bearer token for authentication.

Relation with Tax Documentation

It is important to note that the TaxBit Tax Identity Verification service retains Tax Documentation (such as W-9, W-8BEN, etc.) at the level of the Account Owner. Therefore, it is necessary to utilize the account_owner_id of the respective Account Owner in order to obtain an AccountOwner scoped Bearer token. By obtaining an Account Owner scoped Bearer token, you will have the capability to generate, modify, and retrieve Tax Documentation data pertaining to the corresponding AccountOwner.