How can I change the account business ownership?
To update the business owner associated with your merchant account, you must contact our team to request a Beneficial Ownership Addendum (BOA) form. This form is required to formally add or amend information related to an individual who holds significant ownership or control of the business.
Upon completion, the form must be returned to our team for review and processing. The Beneficial Ownership Addendum must be fully completed, signed by an authorized signer on the merchant account, and include all required information regarding the new owner. Our team will advise you of any additional documentation or requirements at the time the form is provided.
To request business ownership change, follow the steps below:
- Log into the Paysafe Business Experience portal
- Click the widget icon on the top right corner of the screen to access Communications Hub > Support Hub
- Select Create New Ticket > Request a Change > Update My Business Information > Business Owner
How to fill out the Beneficial Ownership Addendum (BOA) form?
Once you request business ownership change, our team will send you a form to fill out. Along with the form you must also provide one of the following supporting documents:
- Articles of Corporation
- Corporate Resolution
- Minutes of Meeting
- Death certificate if owner has passed away
- Driving License and/or marriage certificate if owner is changing last name
You may also be asked to complete the BOA form for other updates, such as changing your bank account details.
The form contains six sections that must include the following information:
| Section A | Business owner's name and date of birth |
| Section B | Legal business name, tax ID number, and business address |
| Section C | Business owner’s name, title, date of birth, SSN, personal postal address, phone number, and email address |
| Section D | Controlling Individual’s name, title, date of birth, SSN, personal postal address, phone number, and email address |
| Section E | Business owner’s names, legal business name, signature, print name and date |
| Section F | Business owner’s signature, print name and date; if there is more than one owner, it is sufficient for only one of them to sign the Beneficial Ownership Addendum |