Improving OneAnswer business efficiencies

We’re pleased to provide you with an update on a number of initiatives designed to improve business efficiency:

1. DocuSign and Adobe Sign e-signatures now accepted

With COVID-19 changing the way we do business we recognise that obtaining client signatures on documents has become challenging.

We’re excited to announce we are accepting electronically signed client OneAnswer Super & Pension New Business and selected Maintenance Request forms via DocuSign and Adobe Sign as part of the Phase 2 release. This includes ANZ OneAnswer products.

This enhancement allows you to obtain client signatures digitally from your clients, helping you and your clients save time, without the need to print and meet in person to obtain wet signatures.

DocuSign and Adobe Sign is being rolled out in phases: Phase 1 was launched on 1 November 2021 with ASF form and Switch Request form processes. Phase 3 will cover OneAnswer and ANZ OneAnswer Withdrawal forms at a later date.

For the digital client signature to be deemed valid, the following must be sent back to OnePath:

  • the electronically signed form, and
  • the certificate of completion issued by DocuSign or Adobe Sign, and

Note: the email must be sent from the adviser’s email address and include your Adviser Number.

We cannot accept an electronic signature without the ‘certificate of completion’.

Please note the following rules apply when using DocuSign and Adobe Sign :

  • For OneAnswer Super new business accounts:  Client Certified ID is not required when setting up a new business account. However to transact on the account client Certified ID must be submitted to OnePath.
  • OneAnswer Super & Pension new business accounts plus Nomination Of Beneficiary (NOB):   application will be accepted via DocuSign/Adobe Sign however Nomination of Beneficiary form will not be accepted. The NOB form will need to be submitted with the client and witness wet signatures.
  • For OneAnswer Pension new business accounts: applications will be accepted however the policy will not be set up until original certified identification and other requirements are received as per the current  process.
  • OneAnswer Investment Portfolio new business accounts: we are not accepting DocuSign or Adobe sign for investment portfolio accounts at this stage.

Existing security processes and controls remain in place whether a form is submitted online or by mail. These processes may include identity verification, signature checks and call-backs to confirm sensitive matters.

To avoid any processing delays, please ensure OnePath has your client’s current email address on record. We continue to require that instructions be sent from the email address associated with the account.

2. Updates to the ‘Identification Form – Non-Individual’

To comply with the Australian Taxation Office’s (ATO) guidelines regarding Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting, the ‘Identification Form – Non-Individual’ form was updated on 18 March 2022 to capture the following mandatory additional information.

  • Tax residency questions updated to include/capture information related to FATCA/CRS reporting requirements

AND

  • Two new sections added to the form:
  • Section 1.1 – Financial Institutions FATCA/CRS status AND
  • Section 1.1 – Financial Institutions in non-participating CRS Jurisdiction
  • Section 1.2 – Other Entity Account Holders including Non-Financial Entities (NFE)

The updated ‘Identification Form – Non-Individual’ form dated 1 February 2022 has replaced the old form dated 1 February 2020. Advisers need to ensure that the new ‘Identification Form – Non Individual’ form is being used for new business applications, however there will be a ‘grace period’ that we may be able to accept the old form, which will end on 3 June 2022. After this date, we cannot accept the old form under any circumstances.

During the grace period, if a new application is received on an old ‘Identification Form – Non-Individual’ form dated 1 February 2020, an Adviser Services representative will contact you to complete only the outstanding mandatory sections on the updated form dated 1 February 2022. The client will still be required to sign and date the necessary declarations on the new ‘Identification Form – Non-Individual’ form dated 1 February 2022.

Once the additional information has been received by OnePath, the new application will be processed.

Any questions?

If you have any questions or would like further information, please:

  • call Adviser Services on 1800 804 768, weekdays between 8.30am and 6.30pm (AEST)
  • email us at adviser@onepathsuperinvest.com.au