IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
In compliance with the Patriot Act, enacted to assist 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, effective October 1, 2003.
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 ABOUT OPENING A LEGAL ENTITY 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. Legal entity accounts include, but are not limited to: Associations, corporations, partnerships, proprietorships, and trusts. These 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 obtain identifying information (name, address, date of birth, social security number and identification documents) for: Each individual that has beneficial ownership (25% or more) in the Legal Entity; and one individual that has significant managerial responsibility for the Legal Entity.