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.
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.
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.
AccountOwner uses the standard Tenant scoped Bearer token for authentication.
It is important to note that the TaxBit Tax Identity Verification service retains Tax Documentation (such as
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