To open a Transact bank account within InvestNext, you will first get started at the Project level. From the Project, navigate to the Payments section, then click on the "Open Transact Account" button to get started.
There will be multiple sections to fill out as well as multiple sections that will require business documentation in order to complete the process.
Terms of Service
Who is completing the Application?
Controller Information
Upload Business Documents
Business Information
Registered Business Address
Describe your Business Address
Terms of Service
You will be prompted to view our legal disclosures. Those contain the following:
Electronic Signature
USA Patriot Act Notice
Transaction Limits
Terms of Service
Privacy Notice
Master Service Agreement
Step-by-Step Instructions:
Step 1: These will all contain the most current version of these agreements for your review during the creation flow for Transact.
Step 2: WHO IS COMPLETING THIS APPLICATION?
This is the person managing the business account on InvestNext — they’ll have access to set up, update, and oversee account activity. This can be the same as the controller.
Step 3: CONTROLLER INFORMATION
A controller is anyone who significantly manages or directs a company (e.g., CEO, CFO, President). Only one controller's information is required, even if there are multiple.
Step 4: UPLOAD BUSINESS DOCUMENTS
This section is going to obtain a couple of documents, so please have the following ready to upload into InvestNext.
EIN Document
Formation Document: this can include any of the following:
Certificate of Formation
Articles of Organization
Articles of Incorporation
Step 5: BUSINESS INFORMATION
This section is gathering information about your registered business name. If you do not have this information, you can find this information at one of the following:
Secretary of State (or equivalent) website
Your formation documents
Business licenses or permits
IRS EIN Confirmation Letter
For classification, most of our clients are using Regulation D; either 506c or 506b. For those, you can use the default Classification from the system, which is "Other investment pools and funds".
Step 6: REGISTERED BUSINESS ADDRESS
This is the physical address for the LLC or your business. This cannot be a PO Box.
How to find your registered business address:
Your business registration or formation documents (Articles of Incorporation, LLC filing, etc.)
Your state's online business search or registry website
Tax records or business license documents
Step 7: DESCRIBE YOUR BUSINESS ADDRESS
What type of address is this business?
Registered Agent
Same as Home Address
Business Office
A Parent Company
Step 8: REVIEW INFORMATION
This section is your last chance to make changes before it gets sent in to review. Please make sure all of this information is correct and accurate prior to agreeing and clicking Submit.
If you entered anything in error, please click the Edit Info button and make the appropriate changes.
