Opening a Relay Account requires business documents and details specific to your entity type (LLC, corporation, general partnership, or sole proprietorship), plus identity documents for every beneficial owner.
Who counts as a beneficial owner?
A beneficial owner is anyone who owns 25% or more of the business, directly or indirectly, or who holds significant management responsibility, such as a CEO, CFO, or Managing Member. All beneficial owners must be over 18 and must be listed during sign-up.
What identity documents do all beneficial owners need?
Every beneficial owner provides the same core set of identity and contact details before Relay can verify the ownership structure.
Required for every beneficial owner:
Government-issued photo ID (driver's license or passport for U.S. citizens; passport only for non-U.S. citizens)
Social Security Number (SSN) or passport number
Physical U.S. address (no PO boxes, no virtual mailboxes)
Position or title within the business
Personal mobile phone number for two-factor authentication
Email address
Non-U.S. resident beneficial owners also provide:
Source of income that started the business
Whether the business is new or established
Annual personal income
Countries where the business operates
What documents do I need for an LLC?
To open a Relay Account for a Limited Liability Company, you need your formation documents, your EIN, and an operating agreement if you have multiple members.
Employer Identification Number (EIN)
U.S. business address and phone number (physical address, no PO boxes)
Industry and business description
Articles of Organization or Certificate of Formation
Operating Agreement, signed, if the LLC has multiple members
What documents do I need for a corporation (C Corp or S Corp)?
For a C Corp or S Corp, you need your incorporation documents and your EIN. Corporate Bylaws are optional but helpful if available.
Employer Identification Number (EIN)
U.S. business address and phone number
Industry and business description
Articles of Incorporation or Certificate of Incorporation
Corporate Bylaws, if available
What documents do I need for a general partnership?
A general partnership needs a signed partnership agreement along with the standard business formation and tax documents.
Signed Partnership Agreement
Employer Identification Number (EIN)
U.S. business address and phone number (physical address)
Industry and business description
Articles of Organization or Certificate of Formation
What documents do I need for a sole proprietorship?
Sole proprietors do not use an EIN and instead provide an SSN, a physical U.S. address, and a DBA name if the business operates under a name different from the owner's.
Social Security Number (SSN)
DBA or Fictitious Business Name, if applicable
Business license, if applicable
U.S. business address (physical address)
Industry and business description
Relay cannot support sole proprietors without a valid SSN or a physical U.S. address.
What business information do I need to provide?
Every application collects the same set of business-profile details, regardless of entity type.
Entity Type
Source of Funds
Countries of Operation
U.S. Nexus (business ties to the United States)
Monthly Transaction Volume
Account Purpose
Business Industry
Business Description
Regulated Status
What if my business is U.S.-registered but owned by non-U.S. citizens?
Relay accepts U.S.-registered businesses owned by non-U.S. citizens or residents, provided the business has an operating presence in the U.S.
Additional information required from non-U.S. owners:
Source of initial income for the business
Business status (new or established)
Annual personal income
Countries where the business operates
What address verification documents are accepted?
Any of the following documents work for verifying a business or personal U.S. address, as long as the address is physical (no PO boxes, no virtual mail services).
Utility bill (mobile phone or internet service)
Bank statement
Lease agreement
Pay stub
Insurance bill or statement (auto or medical)
U.S. driver's license, unexpired
What if my business address is a Registered Agent address?
If your legal business address is a Registered Agent address, you also provide an operational business address where actual business activity occurs. That operational address cannot be another Registered Agent address.
What are the ID photo requirements?
Uploaded government-issued IDs must be original, valid, and unexpired, and the photo must show all four corners of the document clearly.
Format: PNG, JPG, or JPEG
Color image, no blur, no flash
All four corners of the ID visible
U.S. citizens: driver's license or passport
Non-U.S. citizens: passport only
Scanned copies, temporary IDs, and expired IDs are not accepted.
What file formats are accepted for legal documents?
Legal documents can be uploaded as PNG, JPG, JPEG, or PDF files. That covers:
EIN Confirmation Letters (CP-575 or 147c)
Articles of Incorporation or Organization
Company Bylaws
Operating Agreements
What if my business has multiple owners with 25% or more?
Every person who owns 25% or more of the business must be invited during sign-up, so have all owner emails ready when you start the application.
Can I change my entity type after opening a Relay Account?
Relay does not allow entity type changes after account approval. If your business structure changes, you need to open a new account under the new entity and, optionally, close the original one.
Which industries can't open a Relay Account?
Relay cannot support businesses in the following industries due to Thread Bank policy and regulatory restrictions:
Cannabis-related businesses, including CBD products
Cryptocurrency and virtual currency
Debt collection
Direct marketing and telemarketing
Gambling, including fantasy-sports platforms
NFTs
Payday lending
Prescription drug sales
For the full policy, see Prohibited industries.
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