Update as at 26 August 2026
All updated Customer Identification Forms, covering Individuals, Sole Traders, Companies, Trusts, and Related Entities, are now fully deployed in Xplan to align with the latest FSC/FAAA legislative updates and AUSTRAC regulatory requirements.
Important note:
To expedite the availability of the core forms, this initial release focus prioritises standard identification pathways to cover the majority of client onboarding scenarios. Support for the Enhanced Customer Due Diligence (ECDD) sections is out of scope for these updates, and these specific workflows will sit outside the automated Xplan template for the time being.
Original publication & context
(Originally posted following the 7 May 2026 updates)
We are aware that the Financial Services Council (FSC) and the Financial Advice Association Australia (FAAA) recently released updated Customer Identification Forms to align with recent AUSTRAC regulatory updates.
The newly published forms represent a significant structural change from previous versions, introducing a higher level of data complexity. This includes:
- Granular Verification Links: Linking specific verification methods to distinct pieces of information.
- Expanded Data Fields: Capturing additional details around Politically Exposed Persons (PEPs) and the specific services being sought.
- Enhanced Customer Due Diligence (ECDD): Accommodating deeper compliance information and workflows.
Because the legacy Identity Check fields within Xplan were built for the previous framework and did not capture this level of detail, our Product and Tech teams undertook a comprehensive analysis phase to map out these software changes, resulting in the phased delivery plan outlined in the update above.
Related information
For more information about what we have coming for managing your client's AML Risk rating in Xplan, refer to this article.
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