Documentation for Boy Scout Troop Account

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Question:

One of our customers wants to bring a Boy Scout troop account to us. She has a TIN but has no documentation to confirm that it is correct. What documentation would we need to serve our customer and protect the bank?

Answer:

You should get with the Area Council for help with instructions. For example, here are instructions from the Houston Area Council. This should help you devise your CIP requirements for these type of accounts.

First published on BankersOnline.com 10/22/12