Every client on a deal needs a FINTRAC information record before the file can clear for submission: why they're borrowing, what your relationship looks like, and whether anyone besides them is really behind the money. BrokerPlus builds this into a form on each party's compliance record, and it grows a second section automatically when the party is a company.
When You'd Use This
Open it for any applicant flagged as missing information, or whenever you want to get ahead of a lender submission before the gate catches it. Fill it in alongside identity verification and the PEP attestation - all three sit on the same per-party register.
What the Information Record Holds
The relationship section asks why the client is borrowing (purchase, refinance, renewal, debt consolidation, and so on, or a note if none of those fit), how you're delivering the service (face to face, internet, phone, email, e-sign, mail, through an agent, or repeat client), whether this is a repeat client, and their occupation - or, for a company, its nature of business. You only need the purpose dropdown or a note on the intended nature; either clears the field, but leaving both blank does not. Check "source of funds is known" to unlock a field describing where the money is coming from.
Recording a Third Party
Every file needs a determination: not yet determined, no third party, a third party was identified, or unable to determine. Anything but "not yet determined" needs the measures you took written up, and "unable to determine" also needs your reasons for remaining suspicious. "A third party was identified" opens a list where you name each one, their type, and their relationship to your client. A checkbox records whether the client attested they're acting on their own behalf.
Companies and Their Owners
A company party adds an entity verification section: pending, confirmed, or unable to confirm. Confirmed needs the registry you searched, the record type, the registration number, the jurisdiction, and the search date. Unable to confirm needs your reason, the senior managing officer's name, and a box checked to treat the client as high risk. Either way, list the directors, beneficial owners, trustees, or signing officers who control the entity, with their role, ownership percentage, and whether they can bind it - the record stays incomplete without at least one director, and without either a beneficial owner or a checked "no owner holds 25% or more" box.
Saving and Coming Back
If this party came from an import, an Imported Record panel shows what the source system already determined - identity method, document details, credit file, and any PEP answer it carried - read-only, since editing a copy of someone else's verification would let it drift from what it was taken from. Save KYC writes the relationship, third-party, and entity sections together in one save.
Common Gotchas
- Relationship purpose and occupation block the file if both are left empty; delivery channel and source-of-funds don't block on their own, they only feed the risk rating.
- Third-party determination left on "not yet determined" blocks the file the same way a missing occupation does.
- An entity with no director listed, or with neither a beneficial owner nor a checked "no owner above 25%" box, stays incomplete.
What to Do Next
- Record a Politically Exposed Person Attestation for the PEP question on the same register.
- Answer the Deal's Fraud Risk Questions for the rest of the file's FINTRAC record.
- Tour the Compliance Record on a Deal for where this fits among everything else.