Verification of Information for the Purpose of Identification; Authorisation to Issue Statutory Instruments

(1) The information collected under section 11(4) on the contracting party and, where applicable, on persons acting for it, shall, in the case of natural persons, be verified by reference to
1. a valid official identity document bearing a photograph of the holder and satisfying the passport and identity-card obligation domestically, in particular a domestic passport, identity card, or substitute passport or identity document, or one recognised or approved under alien law provisions,
2. an electronic proof of identity under section 18 of the Identity Card Act, section 12 of the eID Card Act, or section 78(5) of the Residence Act,
3. a qualified electronic signature within the meaning of Article 3, point 12 of Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC (OJ L 257, 28.8.2014, p. 73),
4. an electronic identification scheme notified under Article 8(2), letter c) in conjunction with Article 9 of Regulation (EU) No 910/2014, or
5. documents under section 1(1) of the Payment Account Identity Verification Ordinance, whereby in the case of section 1(1), no. 1 of the Payment Account Identity Verification Ordinance an electronically or postally transmitted copy of the birth certificate of the minor suffices to identify that minor, provided the obliged entity is required to collect the tax identification number of the person to be identified and the identity of the statutory representative has been verified by reference to a document or procedure under section 12(1), first sentence, nos. 1 to 4. In the case of identity verification by reference to a qualified electronic signature under the first sentence, no. 3, the obliged entity shall validate the qualified electronic signature in accordance with Article 32(1) of Regulation (EU) No 910/2014. In that case it shall also ensure that a transaction takes place directly from a payment account within the meaning of section 1(17) of the Payment Services Supervision Act held in the name of the contracting party with an obliged entity under section 2(1), first sentence, no. 1 or no. 3, or with a credit institution established in
1. another Member State of the European Union,
2. a state party to the Agreement on the European Economic Area, or
3. a third country in which the credit institution is subject to due diligence and retention obligations corresponding to the due diligence and retention obligations laid down in Directive (EU) 2015/849 and compliance with which is supervised in a manner consistent with Chapter IV, Division 2 of Directive (EU) 2015/849.
(2) The information collected under section 11(4) on the contracting party and, where applicable, on persons acting for it, shall, in the case of legal persons or partnerships with legal capacity, be verified by reference to
1. an extract from the commercial or cooperative register or from a comparable official register or list,
2. constitutive documents, or equivalent probative documents, or
3. the obliged entity's own documented inspection of the register or list data.
(3) To verify the information under section 11(5) collected on beneficial owners, the obliged entity shall, by risk-appropriate measures, satisfy itself that the information is accurate. In the case of identification in connection with the establishment of a new business relationship with an association under section 20 or a legal arrangement under section 21, the obliged entity shall obtain proof of the registration under section 20(1) or section 21, or an extract of the data accessible in the Transparency Register. The obliged entity need not, in business relationships or transactions with associations under section 20 or legal arrangements under section 21, take measures going beyond inspecting the Transparency Register to fulfil its obligation under the first sentence, where the information collected under section 11(5) corresponds to the information on beneficial owners in the Transparency Register and there are no other indications giving rise to doubt as to the identity of the beneficial owners, their status as beneficial owners, or the accuracy of other information under section 19(1), or indicating a higher money laundering and terrorist financing risk under section 15(2).
(4) Insofar as the contracting party is acting, in an acquisition under section 1 of the Real Property Transfer Tax Act, for a legal form within the meaning of section 3(2) or (3), the certifying notary shall, prior to notarisation, check the identity of the beneficial owner for plausibility by reference to documentation of the ownership and control structure to be submitted in text form by the respective contracting party. The documentation shall be made available to the Financial Intelligence Unit and to the law enforcement authorities on request.
(5) The Federal Ministry of Finance may, in agreement with the Federal Ministry of the Interior, Building and Community, by statutory instrument not requiring the consent of the Bundesrat, determine further documents suitable for verifying identity.