In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

Source of Wealth Documentation

What this document is

Source of wealth documentation is evidence that explains how your business or its owners accumulated the overall wealth or assets that the business holds. It is broader than source of funds, which focuses on where specific transaction money comes from. Source of wealth is about the bigger picture: how did this wealth come to exist in the first place?

For example, if a business is funded primarily by a founder who sold a previous company, the source of wealth would be that sale. If it is backed by investors who made their money in real estate, the source of wealth would be those real estate activities. If the business itself has been generating profits over many years, the source of wealth is its own operating history.

Why we ask for this

Source of wealth checks are a core part of enhanced due diligence and are required for certain categories of business accounts. They are particularly relevant where the business is holding or transacting with significant assets, or where the beneficial owners of the business have substantial personal wealth that feeds into the entity.

The purpose is to ensure that the wealth associated with the account has a legitimate and documented origin. This is required under FinCEN regulations and is standard practice across regulated financial institutions.

What your document must show

The document you submit must clearly show all of the following:

Required information	Details
Business or individual name	The name of the business or the beneficial owner the document relates to.
Explanation of how the wealth was generated	A clear narrative or documented evidence of the activity that created the wealth.
Dates and amounts where relevant	For example, the date and proceeds of an asset sale, or a multi-year financial history.
Supporting signatures, stamps, or issuing authority confirmation	The document should be official, signed, or issued by a recognized authority where possible.

Acceptable documents

Any of the following will be accepted, provided they include the required information listed above:

Business revenue history or CPA-prepared financial statements covering multiple years
Capital raise or investment round documentation such as a term sheet or closing documents
Asset sale or business acquisition agreements
Federal or state tax returns evidencing income over time
Inheritance or gift documentation such as a will, probate record, or gift letter

Where the source of wealth involves multiple events or streams, for example a combination of operating profits and a capital raise, it is helpful to provide documents for each. A brief written explanation of the overall picture alongside the supporting documents can also help speed up the review process.

Example document

Below is an example of an acceptable document. Use this as a reference when preparing your submission.

Need help with this document?

Source of wealth can be one of the more complex documents to pull together, particularly for businesses with layered ownership or a history that spans multiple years or jurisdictions. Contact our onboarding support team before submitting if you are unsure what to provide. We would rather help you get it right the first time than ask you to resubmit.