We are aware that the Financial Services Council (FSC) and the Financial Advice Association Australia (FAAA) recently released updated Customer Identification Forms (published 7 May 2026) to align with recent AUSTRAC regulatory updates.
We have received a number of inquiries from users asking when these new forms will be available to generate from Xplan, and we want to provide a quick update.
Current Status
The newly published forms represent a significant structural change from the 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.
The current Identity Check fields within Xplan were built for the previous framework and do not capture this level of detail. Accordingly, the new forms cannot currently be generated from Xplan.
Next Steps
Our Product and Tech teams are currently undertaking further analysis to evaluate how we handle these changes moving forward. At this stage, we are purely in an investigation phase while we review the impact of the new forms against our current software functionality.
We will continue to provide updates on the progress of this investigation right here as more information becomes available. Thank you for your patience and ongoing feedback.
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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