03/24/2024
Is a DBA (Doing Business As) certificate a requirement for CIP purposes?
In Arkansas, it is required that a DBA certificate is on file with the county clerk for businesses.
05/14/2023
Regarding CIP compliance; do we need to get a updated and current copies of customers IDs after their account has been opened and those ID reach an expiration date?
03/05/2023
A customer passes and an estate account is opened at another institution by the appointed executor of the deceased. We receive the death certificate and letter of instruction from the executor to disburse the funds to the estate at the other bank. Are any CIP forms needed for the executor or anyone else on our end?
05/22/2022
What is the entity type for a Trust? Would it be included as a Public Company?
01/30/2022
When opening a sole proprietorship checking account, does the bank need to collect signed documents for the control prong. (Not a Beneficial owner sheet, but the control prong sheet?)
11/14/2021
Would an ICS (Insured Cash Sweep) account require a beneficial ownership form?
06/21/2020
Does a bank need to obtain a Beneficial Ownership Certification form when opening account for a non-profit church?
12/15/2019
Is the bank required to get two forms of I.D. for a signer on an account?
12/01/2019
Does a publicly traded company need to have a CIP filled out for the company and the signers?
08/18/2019
We use a vendor's product for CIP purposes at the bank. When running a sole proprietor account, is there a reason we should be doing the full search or is OFAC alone sufficient? The same would go for unregistered organizations.