Why do I need to supply additional KYC information?

AngelList complies with FinCEN's CDD final rule for covered financial institutions as part of its agreements with our banks. This guidance includes “Know Your Customer” (KYC) compliance, which determines whether the investor is who they claim to be and whether they are someone the government has prohibited from accessing financial systems.

As a result of upgrades to our banking infrastructure, some investing entities will require additional information that was not previously collected. Your information will be stored securely and will not be used for any marketing or promotional purposes. 

What will happen to my account if I refuse to provide the required information?

  1. If you do not provide the required information, you will not be able to make additional investments through the platform. AngelList will return any remaining balance to your bank account on record on December 1, 2022. We will return the funds to your last active bank account.
  2. If we are unable to complete a transfer, we will reach out to you via email to get an alternate bank account, under your name, to return the funds.
  3. If you are unreachable after February 1, 2023, we will transfer the funds to a holding account until such time when you reach back out to us. 

Please email invest@angel.co if you have any questions.

Was this article helpful?
3 out of 4 found this helpful