NAICS Codes and the Verafin Questionnaire
This section of the course will focus on practicing NAICS code lookups and then how to fill out the two questions in Verafin that relate to that code. Be sure to wait for the feedback to appear before moving to the next slide.
NAICS Codes
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
325620 is the best choice since she just creates the perfume rather than selling it in a retail setting. While the name of "Toilet Preparation Manufacturing" is a little odd, it's the best fit in this situation. If you chose 456120 for perfume retail, that is for selling, not creating.
NAICS Code Search Website
Verafin
Now, we will review the NAICS code section of the Verafin Questionnaire. You will need to enter in a brief (two to three word) description of the business in the business type question, not the code itself. An NAICS code will automatically appear, but you mayneed to adjust as necessary based on your research.
Fill out the NAICS questions based on the scenario. Use the small arrow within the tutorial to navigate.
Don't click here until finished with the tutorial.
611620 would be the best option here as this code specifically mentions riding academies. She isn't training the horses (115210) or running recreational rides (713990).
NAICS Code Search Website
Fill out the NAICS questions based on the scenario. Use the small arrow within the tutorial to navigate.
Don't click here until finished with the tutorial.
Since Connor is providing consultation services, 541620 is the code that fits best for his environmental studies. He is not raising the fish (112511) nor the environmental agency in charge of the wilderness areas (924120).
NAICS Code Search Website
Fill out the NAICS questions based on the scenario. Use the small arrow within the tutorial to navigate.
Don't click here until finished with the tutorial.
Review
NAICS Codes
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
You have completed this section. Return to Canvas.
NAICS and Verafin (May 2026)
LCE
Created on April 2, 2026
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Transcript
NAICS Codes and the Verafin Questionnaire
This section of the course will focus on practicing NAICS code lookups and then how to fill out the two questions in Verafin that relate to that code. Be sure to wait for the feedback to appear before moving to the next slide.
NAICS Codes
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
325620 is the best choice since she just creates the perfume rather than selling it in a retail setting. While the name of "Toilet Preparation Manufacturing" is a little odd, it's the best fit in this situation. If you chose 456120 for perfume retail, that is for selling, not creating.
NAICS Code Search Website
Verafin
Now, we will review the NAICS code section of the Verafin Questionnaire. You will need to enter in a brief (two to three word) description of the business in the business type question, not the code itself. An NAICS code will automatically appear, but you mayneed to adjust as necessary based on your research.
Fill out the NAICS questions based on the scenario. Use the small arrow within the tutorial to navigate.
Don't click here until finished with the tutorial.
611620 would be the best option here as this code specifically mentions riding academies. She isn't training the horses (115210) or running recreational rides (713990).
NAICS Code Search Website
Fill out the NAICS questions based on the scenario. Use the small arrow within the tutorial to navigate.
Don't click here until finished with the tutorial.
Since Connor is providing consultation services, 541620 is the code that fits best for his environmental studies. He is not raising the fish (112511) nor the environmental agency in charge of the wilderness areas (924120).
NAICS Code Search Website
Fill out the NAICS questions based on the scenario. Use the small arrow within the tutorial to navigate.
Don't click here until finished with the tutorial.
Review
NAICS Codes
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
Remember, NAICS codes help classify businesses by the products and/or services they offer. Sometimes, they can be confusing. You need to get close, but there may be some ambiguity. On the next slide, read the scenario and determine the best code. Remember, you will need the 2017 code for Symitar, but Verafin may need the newer code.
You have completed this section. Return to Canvas.