Billpays

A billpay is a payment to a vendor, typically against an asset. Examples include:

• Paying tax on a property in an IRA
• Paying for repairs for a property in an IRA
• Recurring contribution to an IRA LLC

Vendors

A vendor is an entity, such as a tax office or a contractor, that can receive billpays. Each vendor must be reviewed by AET for compliance with applicable banking laws such as OFAC and BSA. By creating a billpay to a new vendor, you will automatically be submitting a vendor for review in our system.

The vendor will be approved once the billpay is approved.

Creating a Billpay

To create a billpay, create an investment with a type of Vendor Fee, and include billpay_flag: true.

Create Investment
Billpays then follow the normal investment review process.

Related Asset

If the billpay is made against an asset (e.g., paying tax on a property), include the related_asset field in the create investment API call. This field should be the asset_id, retrievable via the Get Account Asset or List Assets endpoints.

🔧 Using Billpays via API

Follow this flow to create and manage billpays programmatically:

1. Create an Investment with a Billpay Flag
   Send a POST to create an investment of type Vendor Fee, Withdrawal, or LLC Interest, and include "billpay_flag": true.
   Alternatively, you may use PATCH /v3/investments/{id} to add the flag later.

2. Submit the Investment for Review
   Once the investment is configured, submit it using
   POST /v3/investments/{id}/submit

3. Internal Billpay Creation
   If the billpay flag remains enabled, AET staff will create the billpay as part of the review process.

4. Webhook Notification
   A webhook will send a notification once the billpay has been created.

5. Send Additional Payments (if needed)
   To issue a follow-up payment on an existing billpay, send a new amount via
   PATCH /v3/billpays/{id}