Tell me more about the terms used on the Brex application

Shell companies

A shell company is a corporation without active business operations or significant assets, where the true business ownership isn’t revealed. Shell companies don’t create products, sell products, or generate revenue. If your company doesn’t have customers/relations with shell companies, please answer No to this question on your application.

Business one-pager

During the application process, Brex requires a description of your business. You can submit this description in PDF format, as a one-page document, or as a sales deck that summarizes the core details of your business and its product/service offering.

Alternatively, we'll accept a brief statement (three to four sentences) that provides an overview of your business.

Company website

If your company doesn’t yet have a company website, you can enter to move forward with your application. To provide our team with the information they will need to review your application, please contact our support team with a business one-pager.

Once you establish a website, you must contact Brex Support so that your account can be updated accordingly.

Beneficiary owner and controlling officer

To meet regulatory obligations and prevent money laundering, we’re required to collect the identifying information belonging to the beneficial owners and controlling officers of any company that opens an account with us.

A beneficial owner is an individual person who owns 25% or more of the company in question.

A controlling officer is a natural person who possesses significant responsibility to control, manage, or direct a legal entity customer. (For example, a Chief Executive or Senior Manager.)


An EIN is an “Employer Identification Number” or a nine-digit number that is issued by the IRS and used to uniquely identify legal entities operating in the United States. Think of it as a Social Security Number (SSN) for your business.

Companies must be incorporated as an independent legal entity, like an LLC or S-Corp, to apply for an EIN. The IRS uses this number to keep track of business tax return filers.

Certificate of good standing

To learn more about what a certificate of good standing is and how to get one, please read this Gusto help center article.

IRS letter

Brex uses an IRS letter (form CP 575 or 147-C) to verify your business name and Employer Identification Number. To successfully upload this document on your dashboard, please ensure it meets the following specifications:

  • The document is in PDF format.

  • The image is clear and the document is in full frame.

  • The correct form is being used as per the example below.

CX: irs-letter-1
CX: irs-letter-2

If you’re having trouble finding your letter, check with your accountant, or request a copy of the letter from the IRS.

Source of funds/proof of funds

You may be asked to submit information about your company’s source of funds or proof of funds, depending on what Brex product you’re applying for. If you see either of these terms on your application, you can read more about them in this help article.

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