I know you are required to obtain documents showing the existence of the corporation including the articles of incorporation and/or a government-issued business license.

Do you need to perform CIP procedures on the individuals that are signing the loan documents? Do you need to perform CIP procedures on the guarantors?

The regulation does not require you to perform CIP on mere signatories, only the customer. In this case, the customer is the corporation.

However, the regulation is no longer your primary source of direction. Your board of directors adopted a written CIP more than 18 months ago that sets out your bank's specific requirements. Your bank's CIP may enhance the requirements found in the regulation. Your CIP is the only reasonable resource to research for an answer.

In the question and answers they state no you don't have to CIP authorized signers or guarantors BUT you need to look at our bank's risk assessment to determine if your bank will. Our bank does CIP on both. We want to know everyone we deal with.

In addition, be sure to CIP any co-makers on the loan. The co-makers could be individuals or other entities. Our lenders have forgotten that step lately.