Create a Legal Entity
Create a Legal Entity for an individual or business
You can create Legal Entities for individuals and businesses. Please contact Support if you are interested in creating legal entities representing joint bank accounts.
TAB-Individual Legal Entity
Go to your API Keys page. There you will find your Organization ID and API keys. Your default Sandbox or Production keys have the appropriate permissions. Otherwise, create or modify an API key to have manage permissions for Counterparties.
When creating an individual legal entity, pass in individual for the legal entity type. Typical data for individuals includes first name, last name, date of birth, email, phone numbers, addresses, and identifications (e.g. SSN or passport). See the reference page for detailed information about field formats.
A Legal Entity can be created as a standalone object or at the same time when creating a Counterparty. In the future, Modern Treasury may add the ability to create a Legal Entity at the same time when creating an Internal Account. Below are example requests.
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/legal_entities \
-H 'Content-Type: application/json' \
-d '{
"legal_entity_type": "individual",
"first_name": "First",
"last_name": "Last",
"date_of_birth": "2024-02-06",
"email": "[email protected]",
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"metadata": {
"key": "value",
"foo": "bar"
},
"addresses": [
{
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10003",
"country": "US",
"address_types": ["residential"],
"primary": true
}
],
"identifications": [
{
"id_number": "111222333",
"id_type": "us_ssn",
"issuing_country": "US"
}
]
}'
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/counterparties \
-H 'Content-Type: application/json' \
-d '{
"name": "Counterparty Name",
"legal_entity": {
"legal_entity_type": "individual",
"first_name": "First",
"last_name": "Last",
"date_of_birth": "2024-02-06",
"email": "[email protected]",
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"metadata": {
"key": "value",
"foo": "bar"
},
"addresses": [
{
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10003",
"country": "US",
"address_types": ["residential"]
"primary": true
}
],
"identifications": [
{
"id_number": "111222333",
"id_type": "us_ssn",
"issuing_country": "US"
}
]
}
}'
Below are example responses. Note that when creating a Counterparty, only the Legal Entity ID will be returned and not the full Legal Entity object.
{
"id": "5d95643d-1127-4a7c-9ef5-ad21a1d007c6",
"object": "legal_entity",
"live_mode": true,
"legal_entity_type": "individual",
"first_name": "First",
"last_name": "Last",
"date_of_birth": "2024-02-06",
"date_formed": null,
"business_name": null,
"doing_business_as_names": [],
"legal_structure": null,
"email": "[email protected]",
"website": null,
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"addresses": [
{
"id": "04403f55-8aa7-459b-85a0-217d9267db2b",
"object": "legal_entity_address",
"live_mode": true,
"address_types": ["residential"],
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10003",
"country": "US",
"discarded_at": null,
"created_at": "2024-04-26T14:33:52Z",
"updated_at": "2024-04-26T14:33:52Z"
}
],
"identifications": [
{
"id": "3414c008-b104-4e53-82d6-b7bdf513170a",
"object": "identification",
"live_mode": true,
"id_type": "us_ssn",
"issuing_country": "US",
"discarded_at": null,
"created_at": "2024-04-26T14:33:52Z",
"updated_at": "2024-04-26T14:33:52Z"
}
],
"legal_entity_associations": [],
"metadata": {},
"discarded_at": null,
"created_at": "2024-04-26T14:33:52Z",
"updated_at": "2024-04-26T14:33:52Z"
}
{
"id": "4d82d28e-cb3a-4f63-9a7f-f14445e6e9dc",
"object": "counterparty",
"live_mode": true,
"name": "Counterparty Name",
"email": null,
"send_remittance_advice": false,
"verification_status": "unverified",
"legal_entity_id": "5d95643d-1127-4a7c-9ef5-ad21a1d007c6",
"metadata": {},
"accounts": [...],
"discarded_at": null,
"created_at": "2024-04-18T17:10:33Z",
"updated_at": "2024-04-26T18:50:41Z"
}
You can also link a Legal Entity with a Counterparty or Internal Account using a Legal Entity ID separately. Below are some example requests:
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/counterparties \
-H 'content-type: application/json' \
-d '{
"name": "Counterparty Name",
"legal_entity_id": "c9d33980-194c-4406-a066-d24b8c63757e"
}'
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/internal_accounts \
-H 'content-type: application/json' \
-d '{
"connection_id": "bf83e50c-76d4-493d-adfa-84a157911522",
"name": "Account Name",
"party_name": "Legal Account Name",
"currency": "USD",
"legal_entity_id": "c9d33980-194c-4406-a066-d24b8c63757e"
}'
TAB-Business Legal Entity
Go to your API Keys page. There you will find your Organization ID and API keys. Your default Sandbox or Production keys have the appropriate permissions. Otherwise, create or modify an API key to have manage permissions for Counterparties.
When creating a business legal entity, pass in business for the legal entity type. You can add information about the business, for example the business name, doing business as names, legal structure, date of formation, addresses, phone numbers, email, and website. See the reference page for detailed information about field formats.
A business can be associated with other entities, for example beneficial owners (e.g. individuals) and intermediate entities, with Legal Entity Associations . An association contains information about how the entities are related. For example, you can specify the relationship type (e.g. beneficial owner), ownership percentage (e.g. 25), and title (e.g. CEO) of an individual that is related to a business. You can create associations in a single API call when creating an entity. Alternatively, you can also create associations using the Legal Entity Associations API and the Legal Entity IDs of the parent and child. An entity can be associated with multiple other entities, for example if the same individual is a beneficial owner of a few businesses..
A Legal Entity can be created as a standalone object or at the same time when creating a Counterparty. In the future, Modern Treasury may add the ability to create a Legal Entity at the same time when creating an Internal Account. Below are example requests.
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/legal_entities \
-H 'Content-Type: application/json' \
-d '{
"legal_entity_type": "business",
"date_formed": "2000-01-01",
"business_name": "Business Name",
"doing_business_as_names": [
"Doing Business As Name"
],
"legal_structure": "corporation",
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"email": "[email protected]",
"website": "http://www.example.com",
"addresses": [
{
"primary": true,
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10011",
"country": "US"
}
],
"identifications": [
{
"id_type": "us_ein",
"issuing_country": "US",
"id_number": "123456789"
}
],
"legal_entity_associations": [
{
"relationship_types": [
"beneficial_owner"
],
"child_legal_entity": {
"legal_entity_type": "individual",
"first_name": "John",
"last_name": "Smith",
"date_of_birth": "1980-01-01",
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"email": "[email protected]",
"addresses": [
{
"primary": true,
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10011",
"country": "US"
}
],
"identifications": [
{
"id_number": "123456789",
"id_type": "us_ssn",
"issuing_country": "US"
}
]
},
"title": "CEO",
"ownership_percentage": 25
}
]
}'
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/counterparties \
-H 'Content-Type: application/json' \
-d '{
"name": "Counterparty Name",
"legal_entity": {
"legal_entity_type": "business",
"date_formed": "2000-01-01",
"business_name": "Business Name",
"doing_business_as_names": [
"Doing Business As Name"
],
"legal_structure": "corporation",
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"email": "[email protected]",
"website": "http://www.example.com",
"addresses": [
{
"primary": true,
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10011",
"country": "US"
}
],
"identifications": [
{
"id_type": "us_ein",
"issuing_country": "US",
"id_number": "123456789"
}
],
"legal_entity_associations": [
{
"relationship_types": [
"beneficial_owner"
],
"child_legal_entity": {
"legal_entity_type": "individual",
"first_name": "John",
"last_name": "Smith",
"date_of_birth": "1980-01-01",
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"email": "[email protected]",
"addresses": [
{
"primary": true,
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10011",
"country": "US"
}
],
"identifications": [
{
"id_number": "123456789",
"id_type": "us_ssn",
"issuing_country": "US"
}
]
},
"title": "CEO",
"ownership_percentage": 25
}
]
}
}'
Below are example responses. Note that when creating a Counterparty, only the Legal Entity ID will be returned and not the full Legal Entity object.
{
"id": "882c4020-0503-4f46-865f-58b97f66a1c4",
"object": "legal_entity",
"live_mode": false,
"legal_entity_type": "business",
"first_name": null,
"last_name": null,
"date_of_birth": null,
"date_formed": "2000-01-01",
"business_name": "Business Name",
"doing_business_as_names": [
"Doing Business As Name"
],
"legal_structure": "corporation",
"email": "[email protected]",
"website": "http://www.example.com",
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"addresses": [
{
"id": "7a2422bd-d7e2-46df-a158-1abce43ef927",
"object": "legal_entity_address",
"live_mode": false,
"address_types": [],
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10011",
"country": "US",
"discarded_at": null,
"created_at": "2024-05-07T22:07:12Z",
"updated_at": "2024-05-07T22:07:12Z"
}
],
"identifications": [
{
"id": "fc9b861d-985f-44a6-a637-749ddfad5e25",
"object": "identification",
"live_mode": false,
"id_type": "us_ein",
"issuing_country": "US",
"discarded_at": null,
"created_at": "2024-05-07T22:07:12Z",
"updated_at": "2024-05-07T22:07:12Z"
}
],
"legal_entity_associations": [
{
"id": "855b37d8-b324-4802-b372-2a389cc7b88b",
"object": "legal_entity_association",
"live_mode": false,
"parent_legal_entity_id": "882c4020-0503-4f46-865f-58b97f66a1c4",
"child_legal_entity": {
"id": "71a1ad36-36b4-4329-a2e0-5018a720342d",
"object": "legal_entity",
"live_mode": false,
"legal_entity_type": "individual",
"first_name": "John",
"last_name": "Smith",
"date_of_birth": "1980-01-01",
"date_formed": null,
"business_name": null,
"doing_business_as_names": [],
"legal_structure": null,
"email": "[email protected]",
"website": null,
"phone_numbers": [
{
"phone_number": "+11111111111"
}
],
"addresses": [
{
"id": "c30fb00f-b5d1-4d3b-b999-3b80cf5182cb",
"object": "legal_entity_address",
"live_mode": false,
"address_types": [],
"line1": "119 5th Ave",
"line2": "Suite 600",
"locality": "New York",
"region": "NY",
"postal_code": "10011",
"country": "US",
"discarded_at": null,
"created_at": "2024-05-07T22:07:12Z",
"updated_at": "2024-05-07T22:07:12Z"
}
],
"identifications": [
{
"id": "f55b0845-aea9-4ef6-8a71-92bc989ad2bc",
"object": "identification",
"live_mode": false,
"id_type": "us_ssn",
"issuing_country": "US",
"discarded_at": null,
"created_at": "2024-05-07T22:07:12Z",
"updated_at": "2024-05-07T22:07:12Z"
}
],
"metadata": {},
"discarded_at": null,
"created_at": "2024-05-07T22:07:12Z",
"updated_at": "2024-05-07T22:07:12Z"
},
"relationship_types": [
"beneficial_owner"
],
"title": "CEO",
"ownership_percentage": 25,
"discarded_at": null,
"created_at": "2024-05-07T22:07:12Z",
"updated_at": "2024-05-07T22:07:12Z"
}
],
"metadata": {},
"discarded_at": null,
"created_at": "2024-05-07T22:07:12Z",
"updated_at": "2024-05-07T22:07:12Z"
}
{
"id": "75ae5e47-2243-42a5-93b2-8075207cdfcf",
"object": "counterparty",
"live_mode": false,
"name": "Counterparty 1715120525",
"email": null,
"send_remittance_advice": false,
"verification_status": "unverified",
"legal_entity_id": "35bca65e-e68e-4cf6-a3f0-0ca2a05b76d7",
"metadata": {},
"accounts": [],
"discarded_at": null,
"created_at": "2024-05-07T22:22:05Z",
"updated_at": "2024-05-07T22:22:05Z"
}
You can also link a Legal Entity with a Counterparty or Internal Account using a Legal Entity ID separately. Below are some example requests:
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/counterparties \
-H 'content-type: application/json' \
-d '{
"name": "Counterparty Name",
"legal_entity_id": "c9d33980-194c-4406-a066-d24b8c63757e"
}'
curl --request POST \
-u ORG_ID:API_KEY \
--url https://app.moderntreasury.com/api/internal_accounts \
-H 'content-type: application/json' \
-d '{
"connection_id": "bf83e50c-76d4-493d-adfa-84a157911522",
"name": "Account Name",
"party_name": "Legal Account Name",
"currency": "USD",
"legal_entity_id": "c9d33980-194c-4406-a066-d24b8c63757e"
}'
Updated 8 months ago