Got a source of funds questionnaire? Do not panic. This is a standard Binance compliance process, not something against you personally. The key to filling it out and preparing documents is to understand where your money comes from, then choose the matching category.
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Step 1: Understand what the questionnaire asks — SoW and SoF are different
Binance checks funds in two ways. First, find out which one you are asked to complete:
Source of Wealth (SoW): asks how you built your total assets over your lifetime. For example, salary, business income, investments, inheritance, all added together.
Source of Funds (SoF): asks where the specific money you deposited into Binance came from. For example, this deposit is from salary, a property sale, or crypto trading profits.
The notice you received will say whether you need to complete SoW or SoF. Most of the time it is SoF, meaning you need to explain the origin of the money you deposited.
Step 2: Match your income type and prepare documents
Below are common source-of-funds types and the documents Binance officially lists for each. Find the one that fits your situation:
Case A: Employee or self-employed
Prepare: the last 3 months of payslips (officially issued, showing the company name and your name); or the last 3 months of bank statements (showing the word "salary" and company transfer records).
Requirement: the document must clearly show your full name, employer name, pay period, and amount. All four corners must be fully visible, no cropping.
Case B: Business owner
Prepare: the most recent year of tax statements or tax returns; or the most recent year of audited financial reports/profit and loss statements (signed by an accountant).
Requirement: the document must be issued in the company name and show enough profit to support the income you declared.
Case C: Living on savings/deposits (unemployed, student, homemaker, etc.)
Prepare: the last 3 months of bank statements showing your full name and account balance.
Requirement: the statement date must be within the last 3 months and the balance must be clearly visible.
Case D: Investment or trading income
Prepare: an account statement from the investment platform (showing your name, holdings, and transaction history); and a bank statement showing the profits arriving in your account.
Requirement: the two documents must match and prove the profits were actually received.
Case E: Sale of property or other assets
Prepare: a sales contract or settlement statement (showing buyer and seller, asset type, price, and date); and a bank statement showing the sale proceeds entering your account.
Requirement: the contract and bank records must match and show the money actually entered your account.
Case F: Inheritance or gift
Prepare: a copy of the will or a letter from the executor; or a gift agreement (signed by both parties); and a bank statement showing the funds arriving.
Requirement: the documents must include your name, the amount, and the date, and have legal effect.
Case G: Cryptocurrency mining
Prepare: mining machine purchase receipts; and income record screenshots from the mining pool or exchange (at least 3 months, showing wallet addresses and transaction IDs).
Requirement: the screenshots must include your wallet address and transaction hash so the income source can be traced.
Step 3: Golden rules for submitting documents
Binance has clear document requirements. Missing any one of them can lead to rejection:
The name on the document must match the name on your Binance account.
No edited files accepted: submit only PDF, JPG, or PNG. Excel and Word are not accepted.
Clear quality: all four corners fully visible, 300 DPI or higher, no cropping or blur.
Recent documents: bank statements and payslips must be from the last 3 months; tax statements must be from the most recent year.
Common reasons for failure: wrong category or mismatched documents
Wrong income type selected: for example, if your money came from a property sale but you choose "salary" and submit a property contract, the system will reject it. Whichever category you choose, prepare the documents for that category.
Name mismatch: the name on the document (for example, bank account name) does not match your Binance account name, causing rejection.
Risk warning: do not fake documents and do not delay
Forging materials is a red line. Binance will verify whether documents are genuine. If fraud is discovered, your account will be permanently banned and funds frozen. Also, if you do not respond in time after receiving the notice, account functions may be restricted until verification is complete.
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How to check after you submit
After submitting, go to the [Identity Verification] page and check your status. If it changes to "Verified," you are done. Review usually takes a few business days. Do not submit repeatedly during this time. If more documents are needed, customer support will notify you by email or in the app.
