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
   Webhooks notify you when the billpay is created and when its status changes.

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}