When billing details are updated in your Foam or Tipalti account, it may trigger a Compliance review to ensure all changes meet regulatory and security standards. This process is automatically prompted whenever payee or payer information is modified. If your update is under review and Tipalti has requested documentation, please refer to the list below to understand what’s required.
Once the necessary documents are submitted, Tipalti’s Compliance team takes it from there. They’ll thoroughly verify the details and provide approval before any updates are finalized. While there’s no way to bypass this step, rest assured that their team is focused on completing the review as efficiently as possible to keep your account secure and compliant.
For companies, the Compliance team can accept the following:
a certificate of incorporation;
a record that has to be filed annually under provincial securities legislation; or
the most recent version of any other record that confirms the corporation's existence and contains its name and address and the names of its directors, such as a certificate of active corporate status, the corporation's published annual report signed by an audit firm, or a letter or notice of assessment for the corporation from a municipal, provincial, territorial or federal government.
For individual payees, Tipalti accepts the following documents as valid proof of address:
Bank statement
Credit card statement
Insurance Statement/Card
Lease/Rental Agreement
Mortgage Billing Statement
Phone Billi
Utility Bill
Please note that these proof of address documents are not valid for company registrations.
This requirement is part of Tipalti’s fraud prevention measures and helps ensure compliance with Anti-Money Laundering (AML) regulations.