What is a Sole Prop?
A sole proprietorship uses the owner's social security number as the business Tax ID number. There is no separation of tax filings between the business and the individual's taxes. A sole proprietor may have a separate business name, or the legal name may be the individual's name.
**It is important to note that their full SSN will be stored in our system and visible to our entire staff.**
How to verify a sole prop?
The user will submit KYC under the business name and use their social security number as the EIN/Tax ID number. Once submitted the org will typically flag if they have not registered the business name with their tax ID number. If it does flag, you will need to update the legal business name in stripe to the sole prop legal name. You will then update the DBA (Doing Business As) name back to the business name.
Once verified, it is important that we ensure to disable tax ID numbers being displayed on the donor's receipt. You can disable this by moving to the edit page under fundraiser details and unchecking the box that says "Display Tax ID to the donation receipts".
Below are examples of sole props verified in Stripe
https://dashboard.stripe.com/connect/accounts/acct_1NFgdIQMdQydqffk/activity
https://dashboard.stripe.com/connect/accounts/acct_1OCpWFQPoJaEYWs9/activity
https://dashboard.stripe.com/connect/accounts/acct_1NgXHX4FZR8GC5la/activity
https://dashboard.stripe.com/connect/accounts/acct_1NzOumQR6yuqV1Uu/activity