I received a question that I am not positive of what the answer is and hopefully you can help.

If Business A is the escrow agent for Business B but the account is going in Business B’s tax-ID number, do we need all the business and/or KYC/CIP documents for Business B? Business B will not have any signing authority. All signing authority would go to Business A and we would have all of their business and KYC/CIP documents. Please note that is for a DDA account.

Thank you.