How to Prepare for KYC: A Practical Guide for Cleardocs Customers

With upcoming changes under the AML/CTF Tranche 2 reforms, Know Your Client (KYC) requirements will soon become a key part of how you work with Cleardocs.

While Cleardocs itself is not classified as a designated service, new compliance obligations mean that KYC will be required when creating and managing entities such as companies, trusts, and SMSFs.

Here’s what you need to know—and how to prepare.

What’s changing?

From 1 July 2026, Cleardocs will be required to complete KYC checks on individuals connected to the entities you create.

This applies to:

• Company formations
• Trust establishment
• SMSF setups
• Documents that change entity structures

Important: Cleardocs cannot issue final documents or create entities until all required individuals have successfully completed KYC.

For existing Cleardocs customers

If you’re already a Cleardocs customer, there’s a transition period to get you ready:

KYC timeframe: You’ll need to complete KYC between 1 July and 31 December 2026

Who needs to complete KYC?

KYC will be required for individuals involved in your entities. For example:

(Final requirements will be confirmed closer to rollout.)

Repeat KYC (when needed)

If an individual has already completed KYC through Cleardocs within the past 6 months, they will not need to complete it again.

For new customers (from 1 July 2026)

If you start using Cleardocs after 1 July 2026:

• KYC must be completed before you can create any entity
• Once completed and approved, you can continue using Cleardocs as usual
• KYC will still apply to relevant individuals when setting up new entities

In short: KYC becomes your first step before getting started.

Costs to expect

We’ll provide full pricing transparency before rollout so you can plan accordingly.

What about reliance on your advisor?

We know many of you work closely with accountants, lawyers, or financial planners—and there’s good news.

Reliance option (coming soon)

AUSTRAC allows Cleardocs to rely on KYC completed by trusted third parties, such as:

• Accounting firms
• Legal practices
• Financial advisers

If your advisor conducts KYC and meets the required standards, Cleardocs may be able to rely on it—saving you time and avoiding duplication.

We’ll share more details soon on how to opt into this reliance program.

To stay ahead, we recommend:

• ✓ Start identifying individuals linked to your entities
• ✓ Ensure their identification documents are up to date
• ✓ Speak with your accountant or lawyer about their KYC processes
• ✓ Keep an eye on Cleardocs updates as we roll out more guidance

Takeaway

KYC will soon become a standard step in setting up and managing entities—but we’re committed to making the process as seamless as possible.

At Cleardocs, our goal is to:

• ✓ Keep you compliant
• ✓ Minimise disruption to your workflow
• ✓ Provide clear, simple processes you can rely on

More updates—including step-by-step guidance—will be coming soon.