FICA ’ d , for the Deceased , disclosure by the client , which will likely be the Executor , confirmed against an ID document and residential address dated within the last three months ( standard ) and certified copies of these documents ( enhanced ).
• For Related Parties such as the Executor / s and Heir / s , client disclosure confirmed against the Will with a supporting ID document , residential address and contact details from a standard perspective and certified copies and a document evidencing the address from an enhanced perspective .
• For Agent / s or Authorised Person / s , client disclosure with supporting ID document ( natural person )/ CIPC documentation ( legal person ), residential address ( natural person ) and registered address ( legal person ) and contact details as well as documentary evidence authorising the Agent to act on behalf of the Executor / s ( ie : Power of Attorney ) from a standard viewpoint and
certified copies and a document evidencing the address from an enhanced perspective . Deceased Income Tax Number , Marital Status , source of funds and wealth , reason for the transaction or relationship and the Deceased ’ s last industry or occupation , client disclosure in an onboarding form is acceptable for low and medium risk clients , whereas for higher risk relationships , documentary evidence may want to be requested
This article serves as a guide and ultimately your business ’ RMCP should inform the type of due diligence that needs to be carried out when dealing with a Deceased Estate . For more information on how to FICA a Deceased Estate , please reach out to our Compliance Team : compliance @ docfox . co . za
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SA Real Estate Investor Magazine DECEMBER 2022 / JANUARY 2023 119