Amazon to Require Annual Verification of Seller Information Under New INFORM Act
Sellers Urged to Update Account Details Now to Avoid Potential Disruptions
By Staff Writer
In a recent announcement posted on its Seller Central platform, Amazon has reminded sellers about new requirements for third-party sellers in light of the US INFORM Consumers Act. The e-commerce giant will now collect and verify business information from certain sellers at least once yearly to promote a trustworthy shopping experience for sellers and customers.
Amazon said that starting April 2024, sellers who have completed 200 or more transactions or generated $5,000 or more in revenue over a continuous 12-month period will receive a formal notification from Amazon. Upon receiving this notice, sellers must review and certify that their business information, including contact details and business address, is correct and up-to-date.
Also Read: Amazon Confirms 10th Prime Day Sale in July, Dates Kept Secret
Proactive Measures Recommended
While the mandatory certification process does not begin until next year, Amazon advises sellers to take action now. By reviewing and updating account information proactively through the Account Health page in Seller Central, sellers can minimize the risk of account deactivation that could impact future sales events.
In the announcement, Amazon emphasizes its commitment to a safe and reliable marketplace: "We are committed to a trustworthy shopping experience for both you and customers. To uphold this standard, we will collect and verify certain business information from you at least annually, including information required by the US INFORM Consumers Act."
10-Day Window for Certification
Once sellers receive the formal notification and access the Notice and Certification page, they will have a 10-day window to certify the accuracy of their business information, as mandated by the INFORM Act. Amazon reassures sellers that the certification process is quick and straightforward, taking only a few minutes to complete.
Keeping Information Current
Although annual certification will become mandatory in 2024, Amazon encourages sellers always to maintain accurate business information. Sellers can update their account details anytime through the Account Information page in Seller Central.
Amazon has provided a dedicated FAQ page with more information about the INFORM Consumers Act and its implications for sellers. Sellers can also contact Selling Partner Support for further assistance.
Also Read: Amazon Launches in South Africa, Promising Convenience and Support for Local Sellers
About the US INFORM Act
The INFORM Consumers Act is a U.S. law that requires online marketplaces to collect and verify certain information from high-volume third-party sellers of consumer products on their platforms. This includes bank account information, contact details, and tax ID information. The Act also mandates that online marketplaces disclose identifying information about these high-volume third-party sellers to consumers, with some exceptions. Additionally, the law requires online marketplaces to protect the data collected for compliance purposes, suspend sellers who provide false or no information, and provide consumers with a way to report suspicious marketplace activity. The overall aim of the INFORM Consumers Act is to increase transparency and accountability in online marketplaces.
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By Staff Writer
In a recent announcement posted on its Seller Central platform, Amazon has reminded sellers about new requirements for third-party sellers in light of the US INFORM Consumers Act. The e-commerce giant will now collect and verify business information from certain sellers at least once yearly to promote a trustworthy shopping experience for sellers and customers.
Amazon said that starting April 2024, sellers who have completed 200 or more transactions or generated $5,000 or more in revenue over a continuous 12-month period will receive a formal notification from Amazon. Upon receiving this notice, sellers must review and certify that their business information, including contact details and business address, is correct and up-to-date.
Also Read: Amazon Confirms 10th Prime Day Sale in July, Dates Kept Secret
Proactive Measures Recommended
While the mandatory certification process does not begin until next year, Amazon advises sellers to take action now. By reviewing and updating account information proactively through the Account Health page in Seller Central, sellers can minimize the risk of account deactivation that could impact future sales events.
In the announcement, Amazon emphasizes its commitment to a safe and reliable marketplace: "We are committed to a trustworthy shopping experience for both you and customers. To uphold this standard, we will collect and verify certain business information from you at least annually, including information required by the US INFORM Consumers Act."
10-Day Window for Certification
Once sellers receive the formal notification and access the Notice and Certification page, they will have a 10-day window to certify the accuracy of their business information, as mandated by the INFORM Act. Amazon reassures sellers that the certification process is quick and straightforward, taking only a few minutes to complete.
Keeping Information Current
Although annual certification will become mandatory in 2024, Amazon encourages sellers always to maintain accurate business information. Sellers can update their account details anytime through the Account Information page in Seller Central.
Amazon has provided a dedicated FAQ page with more information about the INFORM Consumers Act and its implications for sellers. Sellers can also contact Selling Partner Support for further assistance.
Also Read: Amazon Launches in South Africa, Promising Convenience and Support for Local Sellers
About the US INFORM Act
The INFORM Consumers Act is a U.S. law that requires online marketplaces to collect and verify certain information from high-volume third-party sellers of consumer products on their platforms. This includes bank account information, contact details, and tax ID information. The Act also mandates that online marketplaces disclose identifying information about these high-volume third-party sellers to consumers, with some exceptions. Additionally, the law requires online marketplaces to protect the data collected for compliance purposes, suspend sellers who provide false or no information, and provide consumers with a way to report suspicious marketplace activity. The overall aim of the INFORM Consumers Act is to increase transparency and accountability in online marketplaces.
Follow us on Facebook, X and LinkedIn to get the latest news and updates related to online selling.
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Amazon is the registered trademark of the e-commerce brand.
About ChannelMAX.NET :
Amazon is the registered trademark of the e-commerce brand.
About ChannelMAX.NET :
ChannnelMAX.NET has been helping sellers on various eCommerce platforms since 2005. Some of the eCommerce platforms supported by ChannelMAX.NET are Amazon, Walmart, eBay and Shopify. ChannelMAX.NET has been an Amazon technology partner since 2007. Some of its key offerings include its pricing management tool, the ChannelMAX Repricer, FBA Refunds Management offering, RefundMAX, and ChannelMAX Remote Full-Time eCom Assistants to help its seller partners run their business. The ChannelMAX Repricer is available at the Amazon Appstore.