FICA AND PROOF OF RESIDENCE – WHAT DOCUMENTS ARE ACCEPTABLE?
Taking out a cell-phone contract, opening a bank account, applying for finance or renewing your driver’s license are just some of the many instances that require proof of residence.
We often think that financial institutions and government departments enjoy making us jump through hoops in order to get things done. But, that is not the reality.
So, why do we have to do this? Who said we must? What is the purpose of it all?
The short answer to this is ‘FICA’. At some point we have all heard the term and nodded along without actually knowing what it stands for. The Financial Intelligence Centre Act (38 of 2001) or ‘FICA’ was introduced in 2001 to help fight financial crimes such as money laundering and terrorist activities.
In terms of the Act, there are various accountable institutions that are required to report to the Financial Intelligence Centre on certain transactions.
One of the requirements of the Act is to identify persons correctly or, to ‘FICA’ the person. This means obtaining proof of a person’s identity (i.e. copy of their identity book or passport) and proof of residence.
Any one of the following valid documents reflecting your name and physical residential address will be sufficient as proof of residence:
- Utility bill, e.g. municipal water and lights account or property managing agent statement
- Bank statement
- Municipal councillor’s letter
- Tax certificate
- Recent active lease or rental agreement
- Municipal rates and taxes invoice not older than 3 months
- Account statement from a NCR (National Credit Regulator) registered service provider (NCR number must be visible/recorded on the document)
- Security service providers registered with PSIRA (Private Security Industry Regulatory Authority), e.g. Chubb, ADT (PSIRA number must be visible/ recorded on the document)
- Telephone or cellular telephone statement
- Official SARS document (not eFiling documentation)
- Valid television license renewal letter
- Television license renewal/confirmation letter
- Subscription TV, e.g. MultiChoice statement
- Home loan statement
- Long/short term insurance policy documents from a Financial Services Provider (FSB number must be visible/recorded on the document)
- Motor vehicle registration/license documents
- Body corporate/governing body letter or statement
- Official employer letter for employees residing on company/ institution premises
- Official university/technicon/college or tertiary institution registration letter
- Affidavit to confirm address (only applicable to individuals please see link below with an example of the affidavit)
- Posted traffic fine from a Metro police department (E-toll statements are not accepted)
- Medical aid statement or policy document (policy number must be visible on the document)
- Letter from municipality confirming residential address or business address (for business clients)
- Tribal authority letter confirming residential address or business address (for business clients)
- Signed letter from an independent auditor/accountant on their company letterhead confirming physical/trading/operational address for the business (for business clients).