Letter to People with Significant Control Regarding ID Verification

The Economic Crime & Corporate Transparency Act 2023 (ECCTA) introduces an identity verification regime. This applies to new and existing company directors, new and existing PSCs (both individual PSCs and relevant legal entities (RLEs)), as well as those delivering documents to Companies House (CH). All these parties will need to be ID verified under the provisions of the ECCTA and there will be potential civil and criminal penalties for failure to do so. 

More information is available on our Information Pages here. The government has also created some useful factsheets which can be accessed here.

Whilst the introduction of the identity verification regime will require secondary legislation before it is in force, in preparation for this, companies should begin communicating with their PSCs now.  

This template letter outlines in broad terms the ID verification regime applicable to PSCs to enable them to understand what is going to happen, the timescales and the steps that both they and the company need to undertake in preparation. 

Requisite details should be inserted into the highlighted fields or the wording can be adjusted to suit your purposes. Wording in square brackets is optional. If it is required, then the brackets should be deleted and the wording within them retained. If the wording is not required, then it can be deleted.

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Letter to People with Significant Control Regarding ID Verification is part of Corporate Documents. Just £35.00 + VAT provides unlimited downloads from Corporate Documents for 1 year.