Answer:
This will depend upon whether the bank's CIP program requires full CIP on signers or just a check of ID. You need to refer to your program to determine what is required.
First published on BankersOnline.com 8/16/10
CIP Requirements for New Signatories
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Question:
What are the CIP requirements for new signatories on an existing business account? Am I required to obtain TIN and physical address on the signatories? The business account is well established with the bank, however the signers are brand new.
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