Why do I need to complete the Source of Wealth Declaration (SOW)?
To ensure users' safety and security, Binance is committed to complying with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations. One of our regulatory obligations includes the collection of information and documentation in certain instances to verify our users’ source of funds and/or wealth. Certain users may be required to complete a different SOW Declaration to access fiat products on Binance. Please refer to this FAQ for more details.
How to complete the Source of Wealth Declaration? A step-by-step guide
Please do not refresh your browser during the process.
If you’re using the Binance website:
1. Log in to your Binance account and go to [Profile] - [Identification].
Click [Start Now].
If you’re using the Binance App:
1. Log in to your Binance App and tap [Profile]. Tap your profile to go to [Verifications].
Tap [Start Now].
2. You’ll be redirected to the Politically Exposed Person (PEP) Declaration page. If you are a PEP, you will be required to complete a PEP declaration form. Tap [Continue] to proceed.
What is a Politically Exposed Person (PEP)?
PEP “politically exposed person” is natural:
a) WHO IS OR WHO HAS BEEN ENTRUSTED WITH A PROMINENT PUBLIC FUNCTION: • Head of state • Head of government/Prime Minister • Minister • Vice or deputy * minister • Assistant minister • Parliamentary Secretary • Member of Parliament • Judge in the Supreme Court • Judge of Constitutional Court or other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances • Member of courts of auditors • Member of the board of the Central bank • Ambassador • Embassy Council • Chargés d'affaire • High ranking officer in the armed forces • Member of administrative, management or supervisory body of State-owned enterprises.
b) a natural person WHO IS OR WHO HAS BEEN ENTRUSTED WITH A LEADING FUNCTION OF AN INTERNATIONAL ORGANISATION: • Inform about the organization and type of leading function: president, director, deputy director, secretary general, member of the board, chairman of the board, vice chairman of the board or equivalent function.
c) A FAMILY MEMBER TO THE PERSON (PEP) STATED IN a) and b) ABOVE: • Spouse • Person considered to be equivalent to a spouse according to national law • Child • Child’s spouse or person considered to be equivalent to a spouse.
3. Enter your information to complete your SOW Declaration details. You will need to upload documents to prove your annual income and source of income. Please make sure that all the information entered is consistent with your supporting documents.
4. Select all relevant source(s) contributing to your total net worth.
5. Tap [Upload File] to submit your supporting documents.
Notes:
- The name on the supporting documents should match the name on your identity document. If this is not the case, you will need to clarify why third-party documents are linked to your verification.
- The documents must be obtained from the most recent possible period (i.e., from at least the last month).
- Please ensure the issuer’s name, issue date, and all other information are clearly visible on the documents.
6. After completing the SOW Declaration, please be patient while we review your documents in a timely manner.
You may refer to the example list of acceptable documents below:
| SOW Options | Documentary Evidence |
| Salary | 1. Payslip showing salary payment from the last 3 months 2. Bank Statement showing salary payment from the last 3 months 3. Latest tax statement |
| Self-employment | 1. Latest Tax Statement 2. Bank Statement showing monthly income payments from the last 3 months AND a business registration document. |
| Inheritance | 1. Copy of will/testament OR 2. Signed letter from will's executor/lawyer/grant of probate OR 3. Distribution statement from executor/administrator OR 4. Tax statement reporting amount of inheritance received AND 5. Bank statements, reflecting the deposit of inherited funds or assets (for inherited funds in bank accounts) If the user has sold the inherited assets and holds fiat funds instead, "Savings" option should be applied. Bank statements must be issued in the last 3 months, tax statements should cover the inheritance year. |
| Donation | 1. Donation agreement OR 2. Signed letter (from the last 3 months) confirming the details of the gifts/donation and Donator's (Donor's) Identity document OR 3. Charity/non-profit organization confirmation receipt detailing the gift/donation AND 4. Bank statement reflecting gift/donation deposit. For allowance income, "Allowance" option should be applied. If you have sold gifted/donated assets and hold fiat funds instead, please select the "Savings" option. |
| Mortgages/Loans | 1. Bank or Financial Institution Mortgage/Loans: a. Mortgage/Loan contract showing amount and details AND b. For loans - a bank statement showing the loan deposit into the account 2. Personal (Private) Loans - from natural persons: a. Affidavit letter or contract confirming the loan AND b. Bank Statement displaying the loan deposit 3. Microfinance/P2P Lending Loans: a. Loan contract showing amount and details AND b. Platform statements AND c. Bank Statement displaying the loan deposit All documents (except mortgage/loan contracts) must be issued in the last 3 months. |
| Company Profits (Shares/Dividend) | 1. Latest Dividend payment statements/Dividend distribution agreements 2. Bank statement displaying latest dividend payment 3. Latest tax statement mentioning dividend payments/company profits 4. Latest audited company accounts detailing your dividend distributions For Irregular dividend periods, proof should cover all of the funds deposited in the Binance account. Documents should be signed, stamped, or digitally verified per local laws |
| Financial Investment | 1. Investment Account Statements 2. Portfolio Valuation Reports 3. Bond/Securities Certificates 4. Share Certificates or Ownership Documents 5. Tax Statement 6. Other documents proofing your investment holdings All documents must be issued in the last 3 months in general, tax statements should cover the latest tax year. |
| Pension | 1. Pension/Social benefits statement from the provider (e.g. government, employer or insurer) 2. Letter from the Pension/Social benefits provider confirming the amount, frequency and period 3. Bank statements showing Pension/Social benefits deposits Please note The documents must show payments from the last 3 months. |
| Company Ownership | 1. Latest Shareholding Documents AND 2. Latest audited company financials OR 3. Official Business Valuation Report (from last year) OR 4. Latest Tax statement - company or personal tax statement indicating the value of the company |
| Savings | 1. Savings account statement showing the total saved amount around and funding transactions. 2. Evidence proving how the savings have been generated. |
| Daytrading | 1. Latest Tax Statement showing annual day trading profit 2. Letter from a certified financial advisor/accountant, confirming day trading activities and annual profit 3. Last 1 year's Profit/trading statements showing total profit AND bank statement for the period showing the profit withdrawals Statements should display personal details and issuer logo. Screenshots of transaction history without displayed account details are not accepted. |
| Allowance | 1. Signed letter (from the last 3 months) confirming the details of the allowance AND Allowance-provider's Identity document OR 2. Bank statement showing allowance payments (from the last 3 months) AND Allowance-provider's Identity Document (ID is not necessary if your surnames are matching). |
| Real Estate | 1. Property Deeds/Titles 2. Purchase Contracts 3. Recent Valuation Report 4. Tax Statement - indicating value of the property According to local requirements, we cannot accept proof of real estate sale on its own. A sale of an asset is categorized as 'Savings' instead. |
| Crypto Investment | 1. Crypto-assets platform or exchanges account statements, showing holdings and personal details. AND 2. Documentation of various crypto activities (e.g. ICO, staking, Defi), showing holdings and personal details. OR 3. Tax statement showing crypto holdings or tax on crypto profits OR 4. Written confirmation from a certified financial advisor, accountant, or tax professional explaining the crypto investments and its profits. For Crypto to Fiat sale documents - Savings options should be applied. |
| Official confirmation from a Certified Professional | Confirmation on the Source of the Total Wealth of the user from a Certified professional such as a lawyer, accountant, financial adviser, tax professional, confirming the origin of the funds and their amount. The documents must show the certifier's name; address, position; register numbers, and other details and be signed and/or stamped according to the local legislation. |
| Other (Please Explain) | Any type of relevant documentation that can be used to verify the origin of user’s funds (in accordance with user explanations) |