KYC/AML document checklist for New Zealand accounting firms
Under the AML/CFT Act, NZ accounting firms must verify client identity, address, beneficial ownership and source of funds. This is a practical checklist of the documents to collect — and how to model the workflow in RequestLoops.
Core identity documents
Government-issued photo ID (passport or NZ driver licence) for the client and for any beneficial owner above the AML/CFT threshold.
Confirmation of name on a secondary document (bank statement, utility bill).
Address verification
Recent (within 3 months) utility bill, bank statement or rates notice in the client name showing residential address.
Beneficial ownership
For corporate clients, a structure chart showing all beneficial owners with 25% or more, plus ID for each.
Source of funds and source of wealth
Where required, supporting documents for source of funds (recent payslips, sale agreement, dividend statements) and source of wealth (longer history).
Reminder cadence and retention
Build a recurring annual KYC review run. Retention follows the AML/CFT Act — typically 5 years post-engagement. RequestLoops files documents into your Drive/OneDrive folder structure for archival.
FAQ
- Is RequestLoops AML/CFT compliant out of the box?
- RequestLoops provides the document-collection mechanics. Compliance with AML/CFT also depends on your firm’s internal procedures, ID verification and risk assessment process.
- Can I store KYC documents long-term?
- Yes — sync to Drive or OneDrive for long-term archival under your existing IT controls. RequestLoops itself retains while the request is open.
- Does RequestLoops handle the ID verification check itself?
- No. Pair RequestLoops with an external identity verification tool when stricter assurance is required.
Run this workflow on RequestLoops
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