Under the AML/CTF Act of 2006, it is a legal requirement that clients who spend $5000 or more on any single bullion transaction are to provide appropriate levels of identification (ID). This is a "one-off" requirement (like opening a bank account etc.), and hence subsequent transactions will not require this process to be repeated. KJC, will not be able to release your precious metal orders for collection, shipping or storage until these requirements are met in full.
The KJC ID requirements for transactions of $5000 or more involve the following:
1/ Each individual client is to a complete a "KJC Bullion Buy Personal" registration form with entities e.g. SMSF, Companies and Trusts, to also complete a "KJC Bullion Buy SMSF/Company/Trust" registration form. Additionally, clients that wish to place their items into the KJC Secure Vaulting storage system will also need to complete the relevant "KJC Secure Vaulting Entry" registration form.
2/ As outlined in full on the "KJC Bullion Registration Help" form each registered client is to provide a minimum of one primary, one secondary as well as a supporting form of identification (please note, only needed if a driver's license is not supplied) and companies will in addition need to provide a current company extract report.
Clients, dealing in person, with KJC at the Sydney CBD showroom and private client office, can simply bring in with them, the original identification documents (for us to take a copy of), as well as the signed KJC registration forms. Alternatively, online clients can simply scan or photograph a copy of the identification documents and signed KJC registration forms and then email or post them to us.
Please note, the KJC registration forms can be completed on screen, simply save the relevant form and open it with Adobe Acrobat or a similar PDF application to enable this