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. 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.
This template letter from a company to its PSCs outlines in broad terms the ID verification regime applicable to PSCs to enable them to understand what the regime is, the timescales involved and the steps that both they and the company need to undertake in preparation.
Companies House has (October 2024) issued its intended implementation timetable for much of the rest of the ECCTA that is not yet in force; this includes the identity verification regime. The regime will commence in Spring 2025 and is expected to be completed by the end of 2026. This letter has been updated to reflect this proposed timetable and the transition period that will see more than 7 million people going through enhanced checks. Given the intended timeline, for companies that have not already done so, communicating with its PSCs is now a matter of some importance and urgency. This letter is a good starting point.
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