Updates to US verification requirements

I understand there are some larger compliance-related issues that need to be solved and that this <i>seems</i> like it&#x27;s an unintended consequence of the regulatory requirements put in place to solve this.<p>But there are huge consequences for small business owners in requiring a physical address. I don&#x27;t need or want anyone to ever physically appear at an address I provide, because providing _any_ address for my business is a fiction. My business is where ever I am. To date, I&#x27;ve paid for a registered agent service in my state so I can use their address. It costs me several hundred dollars a year for the &quot;convenience&quot; of not listing my home address in public records, which again, would also not be accurate because my business does not exist in my home. Same with a nonprofit I&#x27;m involved with - the nonprofit exists on Zoom and in temporary space we rent for meetings and events, and we receive mail to a PO Box.<p>There are also further downstream implications to this kind of problem. Suddenly if my business exists at my home address, my city wants a local business license and zoning compliance permit, so they can inspect the non-existent physical location and be sure the zero traffic it is generating isn&#x27;t causing a burden on my neighbors.

Worth a shot if anyone can help me out &#x2F; is facing the same problem.<p>I&#x27;m a US non-resident (from the UK) who registered a business via Stripe Atlas, and used Earth Class Mail (a Stripe Atlas partner) to setup and incorporate my company when I signed up to Stripe Atlas.<p>Due to the nature of my business, a large majority of payments are micro-transactions, so I spoke with a Stripe employee who kindly enabled micro-transaction pricing on my account.<p>Fast-forward to a few months ago, and I decide to offer a subscription service for my business at a higher price point. I was advised by a Stripe employee to set up a new Stripe account for these higher priced transactions as micro-transaction pricing wouldn&#x27;t make sense, so I registered a new US Stripe account using the exact same business details as my Stripe Atlas account (using my Earth Class Mail address, EIN, etc.)<p>My original US Stripe Atlas account seems to have passed this new US verification fine - whereas my new US Stripe account is threatened to have payouts&#x2F;payments disabled on March 12th unless I provide a physical US address, as it doesn&#x27;t like the Earth Class Mail one.<p>I have contacted Stripe customer support who have not been helpful - if there&#x27;s anyone at Stripe who can help me with this I would hugely, hugely appreciate some help.

What does this mean for their partners like Stable? The only reason I used Stable was because it was part of the onboarding flow for Stripe Atlas. Is that considered a physical biz address?<p>FWIW my biz address doesn&#x27;t have PO box in the address. It is re-used though (which I know because when I tried to register a DUNS number with Apple the first problem I ran into was another business was already registered at the same address)

They don&#x27;t even really specify this in their link in the email sent, but I am getting this error when going to my dashboard now:<p>Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a private mailbox. Please correct the following...<p>So now, I have to find a new business address (either rent a place, or do a virtual office), which isn&#x27;t as simple as just getting a new address. I then have to update every single account online or in person that uses it, and officially ask my state&#x27;s SoS to update my biz info. There is probably other stuff I am not even thinking of in this moment as well. In addition, Stripe wants me to get a new biz address before March 13th or &quot;payouts&quot; will be impacted. Not processing! They are happy to use my money to make money for themselves and hold it like they have done to others in the past indefinitely.<p>This is all probably related to CTA and BOI changes that began this year that are seemingly affecting small biz more than the corporate entities that this bill supposedly was about.<p><a href="https:&#x2F;&#x2F;home.treasury.gov&#x2F;news&#x2F;press-releases&#x2F;jy1974" rel="nofollow">https:&#x2F;&#x2F;home.treasury.gov&#x2F;news&#x2F;press-releases&#x2F;jy1974</a><p><a href="https:&#x2F;&#x2F;www.fincen.gov&#x2F;boi" rel="nofollow">https:&#x2F;&#x2F;www.fincen.gov&#x2F;boi</a><p>Once again, Thanks Stripe. It&#x27;s been real, but it&#x27;s probably time to move on.

Mercury also rolled this out recently. got the email yesterday.

I use a registered agent and a mail service. Basically, if the RA receives mail for my business they digitally scan it and email it to me. Costs $200&#x2F;year and can go up to $600&#x2F;year depending on how much mail you receive.

Isn&#x27;t this normally required when getting a US state business license as it is?

There are probably a number of edge cases around physical permanent addresses for both individuals and businesses that I suspect are less edge than they used to be.

Another classic issue with draconian regulations that could be easily solved with Web3 payments.

Many people at RenFaires and music festivals use Stripe. This is going to wipe them out as customers. Also fully remote businesses. It&#x27;s clear to me Stripe wants brick and mortar businesses, or online businesses that have an office. Which I find sad, because they&#x27;re abandoning a bunch of customers depending on them. Though it is an opportunity for some startup to cater to those customers.