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#344649 - 04/08/05 05:59 PM CIP Verification
Anonymous
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When our bank opens estate accounts we verify the estate itself rather than the identity of the individual opening the account, the Personal Representative. Is this correct? We tend to verify the identity of entities that have a Tax ID number like a business, rather than for an individual with a social security number.

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#344650 - 04/08/05 06:14 PM Re: CIP Verification
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
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An estate is included in the longstanding definition of what is a "person" under BSA; the estate is the customer, not the personal representative.
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