Apple informed developers on Monday that changes in local regulations may require an update or addition to banking information stored in App Store Connect to avoid disruption in payments.
In an announcement posted on Apple’s Developer Portal, Apple says local regulations may require developers to add the address of a bank account holder if said account information is in App Store Connect.
“Please provide this information by October 22, 2021, to avoid potential disruption to your payments,” Apple said.
Account holders, administrators, and people in financial positions can update the banking information field to include an account holder’s address. The appropriate options can be found in the “Agreements, Taxes and Banking Services” section of the App Store Connect.
Developers must sign a paid apps agreement and submit electronic banking information before receiving App Store payments from Apple, the company said in a web page covering banking rules and regulations.
The information provided to App Store Connect should relate only to the account holder’s bank and should include a routing number. Apple notes that developers may also be asked to provide additional documents to receive payments in certain territories.
Apple regularly updates and maintains App Store Connect to comply with evolving rules and regulations. The company recently introduced a new feature to streamline the tax collection process.