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When creating a new transaction for an entity, should they link to an individual or be a separate entity?

Create the transaction with the entity's details first, then link controllers and beneficial owners as individuals.

Create the transaction with the entity's details first, then link controllers and beneficial owners (individuals) to that company or trust. The workflow is entity-first, individuals-attached.

This sequence matters because:

  • The entity verification (KYB) is the anchor record - it captures the legal structure, ASIC details, and the entity's own identity.
  • The individual verifications (KYCs) for directors, controllers, and beneficial owners are then attached to the KYB as related verifications.
  • The platform tracks the relationship between the KYB and the attached KYCs - so future updates to the entity (new director, change in shareholding) flow through correctly.

Edge case: new entity, ACN not yet on ASIC. This happens with newly-registered companies where ASIC's record isn't yet visible to the platform. Workaround: create the transaction without the ACN initially - the platform allows entity creation with partial information - and add the ACN later once it's visible in ASIC. The KYB completes properly at that point.

For complex multi-tier structures (a trust whose trustee is a company), create each entity separately and link them - the KYB for the trustee company, the KYB for the trust, with appropriate cross-references.

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