Know You Customer laws have been in place for decades, starting with the Bank Secrecy Act (1970s) which provided more visibility into buyers for the purpose of detecting fraud and other illegal activities. The law was strengthened as part of the Patriot Act in 2001, after 9/11. These are laws which the Fed has mandated of financial institutions but more recently these institutions have been pushing the same demand to comply to others who do business with them. Enforcement has stepped up in recent years on institutions which are not compliant.
If you are a Corporation…
Number of owners for the business
Notate any owner which owns 25% or more of the business
If you are an Individual…
*Please note, for individuals the tax id number will be the social security number. Stripe does not allow for the use of any other number for this entity type.