Results:_____________________________ Resolve conflict in documents: Additional Comments: SECTION FOUR: QUESTIONS Type of customer: New Existing customer adding new service Account opening method: In person all parties present In person, less than all parties present Mail Telephone Email, website Type of person: US Person Non US person Type of deposit: Cash On us transfer or check Payroll check Government Check Cashier’s check Wire Foreign Fund Type of business: Money Service Business (check cashing, wires, issuer or redeemer of cashier’s checks, etc--Fill out MSB questionnaire) Buying or selling motor vehicles of any kind, vessels, aircraft, farm equipment, or mobile homes Practicing law Accounting Practicing medicine Auctioning goods Chartering or operating buses, or aircraft Gaming of any kind (other than licensed pari-mutuel betting at race tracks) Real estate brokerage Pawn brokerage Title insurance and real estate closing Trade union activities Other___________________________________________ Location of customer: HIDT Parish/County Non HIDT Parish/County What brought you to our bank? Product Relationship with banker Location Dissatisfied with current bank Other____________________ Do you have any deposits come in automatically? Payroll Operating Account Other______________________ How close is your office? 1-5 miles 6-10 miles 11+ miles Do you have any deposits come in automatically? YES NO Do you use automatic withdrawals? Sweep Accounts Utilities Other______________________ Do you plan to use the following: Internet banking ATM, Debit Cards Other branches? Do you know how many deposits you will make a month? 1-5 6-10 11 or more
Source: Form W-9 FLOWCHART: SOLE PROPRIETORSHIP SOLE PROPRIETORSHIP Overview To establish a sole proprietorship all an individual is required to do is to start conducting business for profit. There are no formal legal requirements for establishment. Some states require the owner to file an "Occupational License" or “Assumed Name Certificate” if doing
TABLE: 1031 EXCHANGE ACCOUNTS / BANK NOT QUALIFIED INTERMEDIARY 1031 Exchange Accounts Required Information on Qualified Interned: (Before opening account) Name Address Taxpayer identification — The account will use the Social Security number of or employer identification number of owner. IRS Reporting: Report in SSN or EIN of Documentary Requirements: (Reasonable time opening) Identification on Qualified Intermediary My bank does/does not require all signers to complete CIP Exchange Agreement: An agreement by the entity to let another person represent them. Provided by the customer Bank Provided Resolution: Resolution appropriate for the entity. Bank Provided Signature Card: Agent as the signer Suggested Nondocument Verification: (Reasonable time opening) A CIP program must also have nondocumentary verification. Suggestions include: Welcome letter Call to customer to for business Delivery of checks to location by account officer party verification Previous financial institution references 1031 Exchange Accounts Account Styling: Joe by Jessica Clark, Mountain Title, Qualified Intermediary Consult Government Lists: Section 326 List
Name of Legal Entity for Which the Account is Being Opened: The following information for each individual, if any, who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, owns 25 percent or more of the equity interests of the legal entity listed above:(If no individual meets this definition, please write “Not Applicable.”) Name Date of Birth Address For U.S. Persons: Social Security Number For Foreign Persons: Passport Number and Country of Issuance, or other similar identification number The following information for one individual with significant responsibility for managing the legal entity listed above, such as: An executive officer or senior manager (e.g., Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, Treasurer); or Any individual who regularly performs similar functions. (If appropriate, an individual listed section (c) above may also be listed in this section (d)). Name Date of Address For U.S. Persons: Social Security Number For Foreign Persons: Passport Number and Country of Issuance, or other similar identification number1 I, (name of person opening account), hereby certify, to the best of my knowledge, that the information provided above is complete and correct. Signature: Date: CHECKLIST FOR BENEFIT OR TRAGEDY ACCOUNTS
CAMPAIGN ACCOUNTS Description Campaign accounts are accounts designated for individuals to run for office. Insurance Nonprofit organizations are separately insured for $250,000. TABLE: CAMPAIGN ACCOUNTS Campaign Accounts Required Information: (Before opening account) Name Address Taxpayer identification— The account will use the employer identification number of organization. IRS Reporting: Report in EIN of campaign Documentary Requirements: (Reasonable time after opening) identification on all persons opening the account My bank does/does not require all signers to complete CIP. Government Certified Document (requirements vary from to state): Political action committees which anticipate either receiving contributions or making expenditures during the calendar year – file with government entity Bank Provided Resolution: Resolution authorizing the account and who will sign. Bank Provided Signature Card: Contract between bank and customer. Certification of Beneficial Owner(s)
PUBLIC FUND ACCOUNTS Description A business account set up for a public or governmental unit. If incorporated, see “Corporations” for documentation and set up. If not incorporated there is no standard document authorizing the opening of an account, it usually consists of a letter from the public unit. Insurance Public funds are insured for each unit of government up to $250,000. There are special rules governing public funds, please call the FDIC with particular concerns. PUBLIC FUNDS Public Funds Required Information on Public Fund: (Before opening account) Name Address Taxpayer identification— The account will use the employer identification number of the public fund. IRS Reporting: Report in EIN of Public Fund Documentary Requirements: (Reasonable time opening) Identification on person opening the account Authorization—You will need some authorization provided by the public fund for the person to sign. Bank Provided Resolution—There is no bank provided resolution. Bank Provided Signature Card—Bank provided signature contract and agreement. Only change and add signers with proper authority from the public fund. Suggested nondocument verification: A CIP program must also have nondocumentary verification. Suggestions include:
Type of Account Account Styling & Ownership CIP Required Information on Entity Documentary Verification on Entity Nondocumentary Verification Suggestions Government Sole Proprietorship Joe Smith d/b/a Floral Enterprises 1 owner May have signers authorized on the resolution Name Address Date of Birth Social Security Number or EIN on Identification on sole proprietor Usually county issued document Resolution & Signature Card Welcome letter Phone call verification Delivery of checks party verification Contact Secretary of State’s Office Previous financial institution references Section 326 List OFAC General Partnership Johnson Enterprises Partners owners May have other signers authorized by the resolution All partners must sign resolution authorizing account. Do not all have to sign signature contract. Name Address EIN on entity Identification on partner opening account Usually county issued document Partnership Agreement (if any) Beneficial Ownership Form Welcome letter Phone call verification Delivery of checks Third party verification Previous financial institution references Section 326 List OFAC Type of Account Account Styling & Ownership CIP Required Information on Entity Documentary Verification on Entity Nondocumentary Verification Suggestions Government Lists Limited Partnership or Limited Liability Limited Partnership Johnson Enterprises, LP OR Johnson Enterprises, LLLP General Partners Limited Partners All general partners must sign resolution. All partners do not have to sign signature card All signers will be authorized on the resolution. Limited partners will not sign. Name Address EIN on entity Partnership Agreement, if any Document from SOS Resolution & Signature Card Beneficial Ownership Form Welcome letter Phone call verification Delivery of checks party verification Contact Secretary of Office Section 326 List OFAC
Type of Account Account Styling & Ownership CIP Required Information on Entity Documentary Verification on Entity Nondocumentary Verification Suggestions Government Limited Liability Partnership Johnson Enterprises, LLP Members are owners Usually have managing customer who has authority to open accounts. Signers authorized on resolution Name Address EIN on entity Identification on partner opening the account Partnership Agreement, if any Government paperwork Document issued by SOS Resolution & Signature Card Beneficial Ownership Form Welcome letter Phone call verification Delivery of checks party verification Contact Secretary of State’s Office Previous financial institution references Section 326 List OFAC Type of Account Account Styling & Ownership CIP Required Information on Entity Documentary Verification on Entity Nondocumentary Verification Suggestions Government Lists Corporation Johnson Enterprises, Inc. Corporation owns Corp. Secretary must sign account resolution Signers authorized on the resolution Name Address EIN of corporation Identification on corporate secretary Document from SOS Minutes from Board Meeting Resolution & Signature Card Beneficial Ownership Form Welcome letter Phone call verification Delivery of checks party verification Contact Secretary of State’s Office Section 326 List OFAC Type of Account Account Styling & Ownership CIP Required Information on Entity Documentary Verification on Entity Nondocumentary Verification Suggestions on Entity Government Limited Liability Company Johnson Enterprises, LLC If one-person LLC using social security number John Smith Johnson Enterprises, LLC Customers are owners Name Address EIN on entity Identification on person opening the account Operating Agreement, if any Document from SOS Resolution & Signature Card Beneficial Ownership Form Welcome letter Phone call verification Delivery of checks Third party verification Check with Secretary of State’s Office Section 326 List OFAC
Usually have managing customer who has authority to open accounts. Signers authorized on resolution Type of Account Account Styling and Ownership CIP Required Information on Entity Documentary Verification Nondocumentary Verification Suggestions Government Lists Chapter 7 Bankruptcy John Smith, Chapter 7 Bankruptcy Jane Applegate Bankruptcy trustee Name Address Date of birth EIN Identification on bankruptcy trustee and owner Court order Signature Card Contract Telecheck or Check Systems Credit Report Letter of Welcome call verification Delivery of checks Contact Secretary of State’s Office Section 326 List OFAC Chapter 11 Bankruptcy ABC, Inc. Chapter 11 Reorganization Name Address Date of EIN Identification on signers Court order Signature Card Contract Telecheck or Check Systems Credit Report Letter of Welcome Phone call verification Delivery of checks Contact Secretary of Office Section 326 List OFAC Chapter 13 Bankruptcy Jane Smith, Chapter 13 Bankruptcy Name Address Date of birth EIN Identification on owner Court order Signature Card Contract Telecheck or Systems Credit Report Letter of Welcome call verification Delivery of checks Contact Secretary of State’s Office Section 326 List OFAC Type of Account Account Styling and Ownership CIP Required Information on Entity Documentary Verification Nondocumentary Verification Suggestions Government Lists Nonprofit Corporations Boy Scouts of America, Inc. Organization owns Name Address EIN on Corporation Identification on corporate secretary Document from SOS Telecheck or Check Systems Credit Report Letter of Welcome Section 326 List OFAC
Campaign Accounts Friends of Robert Bentley Campaign Campaign Fund for Senator Sessions Martha Roby Campaign Fund Name Address EIN Valid Identification on signers Signature & Resolution Card Campaign Registration Form Beneficial Ownership Form Telecheck or Check Systems Credit Report Letter of Welcome Phone call verification Delivery of checks Third Party Verification Previous financial institution references Section 326 List OFAC Public Fund Name of Government Unit Name Address EIN of Public Fund Valid identification on signers Authorization from Public Fund Resolution & Signature card contract Telecheck or Check Systems Credit Report Letter of Welcome Phone call verification Delivery of checks Third Party Verification Previous financial institution references Section 326 List OFAC Type of Account Account Styling & Ownership CIP Required Information on Person Acting on Behalf of Documentary Verification on Person Acting on Behalf of Nondocumentary Verification Suggestions on Person Acting On Behalf of Government Lists Agents Farm Jack Jones, Agent Name Address Date of EIN of owner Valid identification on agent Agency Agreement Resolution and Signature Card Contract Telecheck or Check Systems Credit Report Letter of Welcome Phone call verification Delivery of checks Third Party Verification Previous financial institution references Section 326 List OFAC 1031 Exchange Joe Smith by Jessica Clark, Mountain Title, Qualified Intermediary Name Address EIN of owner Valid Identification on Qualified Intermediary Exchange Agreement Resolution and Signature Card Telecheck or Systems Credit Report Letter of Welcome call verification Delivery of checks Third Party Verification Previous financial institution references Section 326 List OFAC IOLTA IOLTA Foundation Jack Smith Law Firm Name Address Valid identification on person opening the account Document on appropriate Telecheck or Check Systems Credit Report Letter of Welcome Section 326 List OFAC
EIN of Your state IOLTA Foundation Trust resolution for business type, i.e. LLP, Inc. or Partnership Resolution & Signature card contract Phone call verification Delivery of checks Third Party Verification Previous financial institution references Note: CIP law requires identification on all signatories when the entity cannot be identified. Some of these entities have no outside government issued identification.
Michigan Department of Labor & Economic Growth; Corporation Division Online Services: Forms: MSB: Dept. of Consumer & Industry Services, Financial & Insurance Regulation; Licensing; Money Transmission Services (517) 373-0220 or (877) 999-6442 Financial Institutions: Michigan Compiled Laws: Financial Institutions Statutes: Minors Alone: Credit Union Statutes: of Attorney/Powers of Appointment: n/a Probate Code: UCC Act 174 of 1962: Article 3 Negotiable Instruments – select the purple to the left of the “Part” to go to the individual statutes, then select the specific statute you want to review. Article 4 Bank Deposits and Collections – select the purple to the left of the “Part” to go to the individual statutes, then select the specific statute you want to review. UTMA: LLC Statutes: Minnesota Secretary of State Business Center: Forms: MSB: Dept. of Commerce, Financial Services; (651) 296-2135 Statutes: Banking Statutes: Minors Alone: Credit Union Statutes: Minors Alone: Power of Attorney: Probate Code: UCC: Chapter 336 Uniform Commercial Code: – Note: Minnesota Legislature does not allow direct link to individual statutes. Scroll down to Article 3 Negotiable Instruments for a list of statute numbers and titles, select the statute you want to review, then go back to the list to select the next statute. Article 3 Negotiable Instruments Article 4 Bank Deposits and Collections UTMA: LLC Statutes: