Identity Check

The Tax Practitioners Board (TPB) in Australia has introduced a mandatory proof of identity (POI) process for all registered tax practitioners. This initiative aims to protect personal information and align with government standards.

Who is Affected?

This primarily impacts new clients transitioning to firms within the tax and financial services sector. Every individual involved, must complete this one-time identity verification process.

Process Overview

The identity verification process is facilitated through a secure platform known as Identity Check. This platform ensures the confidential handling of sensitive identity documents uploaded by individuals. Documents are retained securely for a period of 45 days to facilitate the verification process. Upon successful completion, a confirmation email is promptly dispatched to the respective accounting firm, signalling compliance with regulatory requirements.

Legal and Regulatory Compliance

The TPB mandates this identity verification to uphold strict Australian regulatory standards. By verifying the identity of new clients, practitioners demonstrate compliance with legal obligations aimed at safeguarding personal information and ensuring transparency in financial practices.

Capturing Identity Information

To initiate the verification process, individuals are required to submit two essential documents: a recent photograph of their face and a valid photo ID (such as a driver’s license). These documents are critical in confirming the identity of the individual and ensuring the integrity of the registration process.

Clients will receive an email from Identity Check at identity@m.stackgo.io. The email will indicate that Plus 1 group is inviting them to undergo an identity check. They will need to click on the link provided in the email, which will direct them to the identity check portal. There, they will be prompted to upload the necessary documents. The verification process will take a few minutes, after which a confirmation email will be sent to them.

This process ensures data security and regulatory compliance. For questions, individuals should contact their accountant directly.