Audience:
Closure reason codes
Swan assigns specific closure reason codes to help you understand why an account was closed. You can view the closure reason code for a closed account by going to Dashboard > Data > Accounts and selecting the account, or by querying the account status with the API.
Closure reasons fall into different categories depending on who initiated the closure and the circumstances.
General closure reasons
| Reason code | Explanation |
|---|---|
RequestedByHolder | Closure requested by the end user. |
RequestedByPartner | Closure requested by the Partner for any reason. |
RemediationPlan | Closure following a Partner remediation plan. |
PartnerChurn | Closure following a Partner churn. |
DeathClosure | Account holder is deceased. |
Inactivity | Prolonged inactivity according to local regulatory definitions or internal policy. |
Other | Reason not covered by the current list. |
KYC, Re-KYC, and capital deposit closure reasons
| Reason code | Explanation |
|---|---|
KYCIssue | Documents missing, incorrect, or no reply. |
ForbiddenActivity | Prohibited business sectors. |
DuplicateOnboarding | A second account was created by mistake. |
DeniedCountryResidency | High-risk UBO or resident. |
RefusedIbanCountry | The account holder was assigned the wrong IBAN country, or the IBAN country isn't allowed. |
CompanyRegistrationCountryNotSupported | Swan doesn't support the company registration country. |
BusinessInactiveOrNotRegistered | The company is inactive or not registered. |
UnsupportedLegalForm | Swan can't onboard the legal form. |
TCViolation | Terms and Conditions violation. |
ReKYCNoReply | The account holder failed to reply to a Re-KYC request. |
CapitalDepositCompleted | Standard closure of a temporary capital deposit account after the company is registered. |
CapitalDepositWithdrawn | The capital deposit has been withdrawn. |
CapitalDepositRefusedByNotary | The notary refused the capital deposit case. |
Compliance and regulatory closure reasons
| Reason code | Explanation |
|---|---|
ComplianceReason | Closure for compliance reasons. |
RegulatoryRequirement | Closure required by regulation. |
These are high-level categories for closures. In some cases, Swan uses these codes when the specific closure reason can't be shared with partners, such as in cases of fraud or risk. Swan can't share further details on compliance or regulatory closures.
Timeline for closure reason codes
Before 2 April 2026, Swan used a limited set of four closure reason codes (ComplianceReason, PartnerReason, Inactivity, and CapitalDepositReason).
On 2 April 2026, more granular codes replaced PartnerReason, Inactivity, and CapitalDepositReason for better transparency about why an account was closed; ComplianceReason remains in use.
In June 2026, DormantAccount was deprecated in turn and replaced by Inactivity, which returned with its current, more precise meaning.
Deprecated reason codes
The following reason codes are deprecated and no longer appear on any closed account: accounts that carried them, including accounts closed before 2 April 2026, were migrated retroactively to the replacement codes.
| Deprecated code | Used for | Replaced by |
|---|---|---|
PartnerReason | Closure requested by the account holder or legal representative. | RequestedByHolder |
CapitalDepositReason | All capital deposit closures (cancelation, completion, or notary refusal). | Any code in KYC, Re-KYC, and capital deposit closure reasons. |
DormantAccount | Prolonged account inactivity (assigned between April and June 2026). | Inactivity |
CapitalDepositCanceled | Legacy capital deposit cancelations. | CapitalDepositWithdrawn |
ComplianceReason and Inactivity are not deprecated and remain in use.