[4] Banffozoa consists of the order Banffiata (which has only one family, Banffiidae)[2] as well as a dwarf "Form A" that has not been formally described or named.

[2] Banffozoans have a bipartite body with a smooth anterior part that generally lacks evidence of segmentation and may or may not have a lateral groove.

[11] The possible presence of gut diverticula in Banffia constricta would suggest a protostome affinity, but the same researcher proposed that these features could represent a circulatory system instead.

The extremely long posterior section has been considered arthropod-like, especially the bifid (forked) terminal segment.

If proven true, pharyngeal slits would no longer require a deuterostome placement and vetulicolians could prove to be stem protostomes that lost the post-anal tail.

[15] A 2024 study has found the Banffozoa to form the earliest part of the paraphyletic stem-chordate evolutionary grade, as shown in this simplified cladogram:[14] Banffia† Heteromorphus† Skeemella† Nesonektris† Vetulicolidae† Didazoon† Pomatrum† Yuyuanozoon† Yunnanozoon† Cathaymyrus† Pikaia† Chordata(crown group) An earlier study in 2014 placed vetulicolians as the sister-group of tunicates, but was unable to resolve any relationships among vetulicolians as a group:[16] Vetulicola† Beidazoon† Ooedigera† Pomatrum† / Xidazoon† Didazoon† Yuyuanozoon† Banffia† Heteromorphus† Nesonektris† Tunicata Banffozoa was published in a journal issue dated June 2005,[17] but with a formal in-print date of 2006.