Stripe is asking for additional business information for my Stripe account. What do I need to do?

Stripe has certain Know Your Customer (KYC) obligations requiring them to collect, verify, and maintain identity information about writers collecting payments on Substack. These requirements are frequently updated by Stripe, financial service regulators, card networks, and other financial institutions.
 
Starting in January 2024, Stripe is introducing some new verification requirements that include:
 
  • Writers registered as sole proprietors or single-member LLCs will have to provide business addresses (which can be the same as their personal addresses)
  • Minors will have to provide information about their legal guardians
  • Writers with $500k or more of total transaction volume will have to provide the full nine digits of their tax identification number (e.g., their SSN) rather than just the last four digits

Is there anything I need to do?

If your Stripe account needs additional verification, Stripe will email you instructions on how to provide the requested information and a deadline to provide the information. When logged into your Stripe account, you'll also see a notification on your Dashboard about these requirements.

What happens if I don't provide the requested information?

Payments and payouts will be paused unless an account provides the required information by its deadline.

If you have any questions about any additional information Stripe may ask from you, you can connect with Stripe Support here.

Was this article helpful?
6 out of 17 found this helpful

Articles in this section

See more
Need more help?
Submit a request to our Support team and we'll be glad to help!