If you are transacting $5,000 or more in a single day under an entity (trust or company), we are required to verify both the entity itself and the individuals who control it.
This includes transactions through self-managed super funds (SMSFs), trusts, or companies.
Documents required
Trusts: The full document of the trust deed.
Companies: Most recent company statement or extract showing shareholders and directors (Company Extract can be purchased from ASIC connect for $10).
Trusts with a corporate trustee: The full document of the trust deed and the most recent company statement/extract.
Individuals who must be verified
We must verify the identity of the individuals who own or control the entity:
Trustees (for trusts)
Directors (for companies)
Beneficial owners holding more than 25% equity in the company
These individuals must complete verification via our online ID verification portal.
Why this is required
Australian regulations require bullion dealers to:
Confirm the legal structure of an entity
Identify and verify the controlling individuals
Ensure the entity is legitimate and not being used for illicit purposes
We only request documents necessary to meet these obligations.