TIN and Name Match – We contact the IRS directly to verify that the taxpayer identification number, whether an SSN or an EIN, matches the name entered. 1099 forms filed with incorrect TIN/Name information may be subject to penalties of up to $100 per occurrence.
Specially Designated Nationals – Checking that the person is not on the OFAC list can help prevent civil and criminal penalties that could run to millions of dollars.
Consolidated Sanctions – A consolidated list from OFAC, this check confirms the person is not on any of the following: the Non-SDN, Palestinian Legislative Council List "NS-PLC List", the Part 561 List, the Non-SDN Iran Sanctions Act List "NS-ISA List", the Foreign Sanctions Evaders List "FSE List", and the Sectoral Sanctions Identifications List "SSI List".
European Sanctions List – Imposed by the UN Security Council, these financial sanctions must be checked by both private and public sector entities.
Arms Export Control Act – Confirm the person is not excluded from the export of arms or defense materials. Each violation may carry a penalty of up to $500,000.
FATCA List – A list of foreign financial institutions who have complied with FATCA regulations by registering, being accepted, and being issued a Global Intermediary Identification Number.
Address Validation – We confirm the physical address presented is valid per the USPS database and offer the opportunity to update to the address as listed in that database when any discrepancy is found.
Foreign Sanctions Evaders List – Another list from OFAC, you can use this check to ensure you are not transacting with someone who has violated, attempted or conspired to violate, or caused a violation of US sanctions.
Death Master File – Help prevent fraud by verifying the person you are hiring is not using the SSN of a deceased person.
Denied Persons List – Anyone on the Denied Persons List has been denied export privileges. Dealing with a person on the list can result in criminal penalties of up to $1,000,000 and/or 20 years in prison. Civil fines of the greater of $250,000 or twice the value of the transaction for each instance are also possible.
Excluded Parties List System – Government agencies and contractors are required to check this list to ensure they are not hiring someone who has been debarred, suspended, excluded, or disqualified from receiving Federal contracts, subcontracts, assistance, and benefits.
Excluded Individuals and Entities – Health care entities should check new hires, current employees, and contractors to ensure they are not on the excluded list, helping to avoid civil monetary penalties.
Designated Foreign Terrorist Organizations – Foreign organizations designated as terrorist by the Secretary of State.
Politically Exposed People – A list compiled by the CIA of Chiefs of State and Cabin Members of foreign governments.
What checks does Exakto.com perform?
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We check all of the lists or databases seen on the left. Keep in mind that these checks are to help you validate the identity of the person you are paying as a contractor/vendor and to ensure that person or entity is not on a list where doing business with them may cause you to face penalties. The checks can help you avoid costly fines, but they are not the basis for hiring decisions.
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