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KYC / AML Requirements

Last updated: January 6, 2022.

KYC Compliance:  To execute a transfer of funds, the Zcash Foundation is legally required to conduct a KYC process to obtain the following information from you:

1. A photocopy of the fiduciary’s state-issued identification (passport, driver’s license, etc.). The Fiduciary is the person who has a fiduciary responsibility for acting in the best interest of the funds, CEO or Director in the case of a company, or a sole individual in the case of a sole proprietorship or similar individual entity.


2. A filled-out form W-9 (if US taxpayer) or W-8BEN (if nonresident alien individual), or a W-8BEN-E (if foreign corporation).


3. The Zcash Foundation understands the regulatory and compliance risks associated with transacting in cryptocurrencies, and will run a Sanctions Screening and Fraud Monitoring on each recipient.  As a condition of receiving the Grant you represent to us, now and until the latter of the submission of a report on the status of the work covered by the proposal or the use of all of the Grant funds, (i) that you are not in violation of any law relating to terrorism or money laundering (“Anti-Terrorism Laws”), including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive Order”), and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001(Title III of P.L. No. 107-56) (known as the “PATRIOT Act”).  (ii)  neither you or any affiliated person or entity is a person that is listed in the annex to, or is otherwise subject to the provisions of, the Executive Order or a person that is named as a “specially designated national and blocked person” on the most current list published by the US Department of the Treasury, Office of Foreign Assets Control (“OFAC”) at its official website or any replacement website or other replacement official publication of such list; (iii) neither you or any affiliated person or entity is subject to blocking provisions or otherwise a target of sanctions imposed under any sanctions program administered by OFAC; and (iv) neither you or any affiliate person or entity deals in, or otherwise engages in any transaction relating to any property or interests in property blocked pursuant to the Executive Order.


4. Tax Implications: Please be aware that in some countries, taxes will be due on the ZEC grant you receive (for the receipt of ZEC, when you sell/exchange it, or both). It is your responsibility to determine your specific tax liability based on your country of residence and any other contributed factors. United States-based grantees that receive funds in excess of $600.00 (USD) will receive a 1099-NEC form from the Zcash Foundation annually (value is determined at time of payment).


Disbursement: Your funds will be disbursed in shielded ZEC, via a blockchain transaction to a z-address. The Foundation will use this third-party service and market for converting ZEC to other currencies based on the price at the time of payment withdrawal.