Main Content Login Locations Contact Security Rates Open an Account Resources Skip Text BENEFICIAL OWNERSHIP May 2018 Please read this important notice: At the Adirondack Trust Company, we strive to make the account opening process easy and efficient for all of our customers. With that goal in mind we would like to make you aware of some upcoming changes to our account opening process for all business accounts that are required by federal regulation. Beginning on May 11, 2018, Adirondack Trust Company and all banks will be subject to a new rule under the Bank Secrecy Act intended to assist the government and law enforcement agencies in the ongoing fight against money laundering and the financing of terrorism. When an account is opened on behalf of a business, or covered “legal entity,” we will be required to ask for certain identifying information (name, address, date of birth, social security number) of the “beneficial owners” of the business. The rule defines a beneficial owner as: Each individual that has 25 percent or more of the equity interest in the business; and One individual that has the authority to exercise control of the legal entity (such as a CEO, executive officer or treasurer) We may ask for additional documentation to verify the identity of those individuals. All this is required as part of the government’s efforts to fight financial crime and terrorist activities. Beginning this quarter , we will implement these requirements. Each time a covered legal entity opens a new account or sub account, we will require this documentation and certification that the information is true, accurate and current. To ensure an efficient account opening experience, we recommend that you speak to one of our branch managers before you open your next account. We will be happy to assist you in determining if these new regulations apply to your legal entity and what additional information you may need to provide. Please contact us at (518) 584-5844 with any questions or visit our nearest branch location. We greatly appreciate your business and look forward to serving your financial needs. Download the Beneficial Ownership Certification form for opening a new account. Please speak with any of our Branch Managers if you have questions regarding the completion of this form. Stay Connected Sign UpWebsite Feedback © 2020 Adirondack Trust Company Get In Touch 473 Broadway Saratoga Springs, NY 12866 (518) 584-5844 Email Customer Service Quick Links Lost or Stolen Card Reorder Checks Open an Account Calculators Careers Legal Information Privacy Notice Terms of Use Security Alerts Disclosures Forms NYSDFS FAQs NMLS#645688 Site Map Routing#021302884 Member FDIC Investment & Insurance Products are: NOT A DEPOSIT * NOT FDIC INSURED * NOT GUARANTEED BY THE BANK * NOT INSURED BY ANY GOVERNMENT AGENCY * MAY GO DOWN IN VALUE Above and Beyond and the Adirondack Trust Company logo are registered trademarks of The Adirondack Trust Company. - Get Adobe Reader The web site you have selected is an external one located on another server. Adirondack Trust Company has no responsibility for any external Web site. It neither endorses the information, content, presentation, or accuracy nor makes any warranty, express or implied, regarding any external site. Thank you for visiting Adirondack Trust Company's Web site. Continue