When you sign up for Dental Intelligence Payments, we'll ask you to provide some personal and business information before your account can go live. Here's exactly what we need, who it applies to, and why we ask for it — so there are no surprises when you're filling out the application.
Who Needs to Provide Information
We'll need details from two groups of people:
The Account Signer
The person who is authorized to enter into agreements on behalf of the practice — typically the owner, managing partner, or an officer of the business entity.
Any Owner with 25%+ Equity
Every individual who owns 25% or more of the practice must be verified separately. If your practice has multiple owners, each one who meets this threshold needs to provide their information.
What if no single person owns 25% or more? If ownership is spread across more than four people with no single person holding 25%+, we still need to verify the account signer plus at least one person with significant management or control of the business.
What We'll Ask For
For each person who falls into one of the categories above, we'll collect the following:
Full Legal Name: Must match government-issued ID. This is used to confirm the person's identity and screen against fraud and sanctions databases.
Home Address: Your residential address (not the practice address). Used for identity verification and to meet federal Know Your Customer (KYC) requirements.
Phone Number: Used to contact you if there's an issue with the application or your account.
Date of Birth: One of the four data points required by federal law to verify a person's identity before opening a merchant account.
Social Security Number (SSN): Required by federal regulation for identity verification and sanctions screening. Your SSN is encrypted and handled securely — it is never stored in plain text.
Ownership Percentage: Determines who qualifies as a beneficial owner under federal rules. Anyone at 25% or above triggers additional verification requirements.
Why We Ask for This
Dental Intelligence Payments operates within the regulated U.S. financial system. Before we can activate your account, our payment processing partner is legally required to verify the identity of the people behind every merchant — both to prevent fraud and to comply with federal anti-money-laundering law.
This isn't something we can skip or waive. The requirement comes from federal regulations including the USA PATRIOT Act and FinCEN's Customer Due Diligence Rule, which apply to any financial institution opening a merchant account.
Regulatory background (for those who want the details):
The USA PATRIOT Act §326 established the Customer Identification Program (CIP), requiring financial institutions to verify name, date of birth, address, and SSN before opening an account. The FinCEN Customer Due Diligence Rule (31 CFR 1010.230), effective May 2018, added the requirement to identify any individual owning 25% or more of a business. Identity information is also screened against OFAC (U.S. Treasury) sanctions lists as required by law.
Quick summary: We need basic identity information from your account signer and any owner with 25%+ equity — name, home address, phone, date of birth, SSN, and ownership percentage. This is a federal legal requirement, and your account cannot be approved without it. All information is handled securely and used only for verification purposes.