Usage Info

This method can be used to modify the essential information of a specific Business Owner entity.

Request

Parameters

Parameter	Type	Required	Description
business_owner_id	string	Yes	The identifier of the specific Business Owner entity.
business_owner	object	No	The object containing specific attributes to modify for the Business Owner entity.

Business Owner Parameters

Parameter	Type	Required	Nullable	Description
ownership_type	string	No	Yes	The type of ownership the person has over the business. Must be one of the BENEFICIAL_OWNERSHIP_TYPES.
ownership_percentage	number	No	Yes	The amount of ownership the person has over the business. The range of allowed values is 0 to 100.
ownership_year_month	string	No	Yes	The month and year when the person first obtained significant ownership in the business. This must be in the YYYY-MM format and contain only digits [0-9] and dashes.
business_person_position	string	No	Yes	The position the person has within the business. Must be one of the BUSINESS_PERSON_POSITIONS .

Note:

Nullable parameter unsets the value.
Nullable Parameters of type array removes all the items from the parameter.
Empty array for a parameter removes all the items

Setting ownership_type to null sets it to OWNERSHIP_PRONG

Example

{
  "business_owner_id": "bo_7eobHllxknr7mfqbjnX2Pp",
  "business_owner": {
    "ownership_type": "CONTROL_PRONG",
    "ownership_percentage": 45,
    "ownership_year_month": "2023-11",
    "business_person_position": "PRESIDENT"
  }
}

Response

Data

An empty data object is returned when the completion is successful.

Example

{
  "meta": {
    "status": "SUCCESS",
    "trace_id": "trc_6zNzQZHSf26V83BO3uW6dS",
    "version": "2025-03-24"
  },
  "data": {}
}

Errors

Error Code	HTTP Code	Possible Cause
ACCOUNT_CONFIGURATION_VIOLATION	400	Account configuration rule violations are described below.
BAD_REQUEST	400	Required parameters not provided. Enum value provided does not correspond to an available type.
ENTITY_NOT_FOUND	400	The `business_owner_id` provided does not exist.
SYSTEM_RULE_VIOLATION	400	System rule violations are described below.

Account Configuration Violations

When a ACCOUNT_CONFIGURATION_VIOLATION error occurs, the response will include additional entity_type and sub_code fields to provide more specific information:

Entity Type	Sub-code	Description
Business Owner	MINIMUM_OWNERSHIP_PERCENTAGE	Owner must have at least X% ownership to be added as a beneficial owner.

System Rule Violations

When a SYSTEM_RULE_VIOLATION error occurs, the response will include additional entity_type and sub_code fields to provide more specific information:

Entity Type	Sub-code	Description
Business	CONTROL_PRONG_AGE_REQUIREMENT	Control prong owners must be at least 18 years of age.
Business	OWNERSHIP_DATE_BEFORE_ESTABLISHED	The ownership date cannot precede the business establishment date. Ownership cannot begin before the business existed.
Business	OWNERSHIP_PERCENTAGE_EXCEEDS_MAXIMUM	The total ownership percentage across all owners cannot exceed 100%. The current operation would result in a total ownership of X%.
Business	OWNERSHIP_DATE_BEFORE_BIRTH_DATE	The ownership date cannot precede the person's date of birth.
Business	SINGLE_CONTROL_PRONG	Only one person can be designated as the control prong owner for a business entity.
Business	SOLE_PROPRIETORSHIP_OWNERSHIP_TYPE	Only `CONTROL_PRONG` ownership type is allowed for a `SOLE_PROPRIETORSHIP` Business entity.
Business	SOLE_PROPRIETORSHIP_OWNERSHIP_PERCENTAGE	`CONTROL_PRONG` owner in `SOLE_PROPRIETORSHIP` Business entity must have 100% ownership.