Alpaca

Breaking Change Notification for Account Creation Tax ID Requirement

Current Issue and Customer Impact

As part of the onboarding process for Broker API user accounts, we require specific attributes to be passed in at the time of account creation. Specifically for our broker partners who utilize Alpaca for KYCaaS, we use this information to carry out customer identification checks and complete the know your customer process. Upon the account creation call, if a tax ID is not passed in, we are unable to run a customer identification check which slows the know your customer service that we perform and could result in significant delays before the account gets approved.

In order to prevent account approval delays, we will introduce a breaking change.

Solution and Breaking Change

We have adjusted the required attributes for the account creation Broker API endpoint, POST/v1/account. Within the identity model, tax_id will now be required. An in-depth view on the account creation endpoint and its attributes can be found here.

Release Timeline

We plan for this change to take effect in the Broker API sandbox and live environments starting on Tuesday, October 26, 2021.

We understand the change may impact your client code but hope it will provide a better experience. Thank you for your understanding and please feel free to send any questions to brokersupport@alpaca.markets.

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About Crystal Xue