USA PATRIOT ACT / CUSTOMER IDENTIFICATION PROGRAM NOTICE
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
Important Information for Legal Entities Opening an Account
Section 326 of the USA Patriot Act requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account for a covered Legal Entity. New rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number and identification documents) for:
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Each individual that has beneficial ownership (25% or more) in the Legal Entity; and
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One individual that has significant managerial responsibility for the Legal Entity.
New legislation also requires qualifying legal entities to register with the Financial Crimes Enforcement Network (FinCEN). When opening a new account for a legal entity, we may request proof of filing with FinCEN. For more information on Beneficial Ownership, please reference the Small Entity Compliance Guide, provided by the Financial Crimes Enforcement Network (FinCEN), and visit their website: fincen.gov/boi.
