Sole trader business application checklist

Full business name as registered with ASIC and its registration date (if applicable). If business name is not registered, the full name that the business operates under.

Australian Business Number (ABN), if applicable

The nature and purpose of your intended banking relationship with NAB

Your wealth – the activities that have contributed to your wealth to date and from which countries did it originate from

Nature of business/industry – all activities of the business

Principal place of business address and mailing address if different to your principal place of business address

If your business is a resident of any other country for tax purposes (this is required under Foreign Account Tax Compliance Act (FATCA) / Common Reporting Standard (CRS) regulations)

For the individual (sole trader) – full name, residential address, mailing address, occupation, date of birth, country(ies) of citizenship and if you are a resident of a foreign country for tax purposes, provide Tax Identification Number (TIN)

Any signatories other than the individual

If any signatories are a citizen or resident of a foreign country for tax purposes, provide Tax Identification Number (TIN)

Any guardian of the individual

Any joint account holders

Any agent

Organise all required individuals to provide identification documents at a NAB branch or their banker. Where we have your consent, we may be able to verify your identity electronically.

Arrange a time to complete the onboarding process with your banker.

Provide or email information and relevant documents to your banker.