Why we need this information
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 and account.
Section 326 of the USA PATRIOT Act requires that financial institutions identify and verify the identity of the beneficial owners of all legal entity customers at the time of new account opening. The identification and verification procedures for beneficial owners are very similar to those you currently follow as individual customers.
When you open an account, we will ask you to identify the beneficial owners of your company, as defined in the Beneficial Ownership Brochure. You will need to provide the following for each beneficial owner: Name, Address, Date of Birth and other identification information that will allow us to identify and verify the identities of your beneficial owners. We may also ask for a driver’s license or other identifying documents for each beneficial owner.
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