We don't currently use a CIP profile form when opening a new business acct. We have on for personal accts. Should we be using one for business acct? if so would anyone be willing to share yours? Thanks:)

We have a business CIP- lists all pertinent info- physical address, tax ID #, lists type of business- i.e. corporation, sole proprietorship, partnership, etc... then lists our required documentation for each type, includes a checklist for Reg GG, Privately owned ATM, and MSB disclosures (each disclosure explains what it is, our policy regarding it, they indicate whether they are, or are not etc...) and then lists questions regarding their expected usage/purpose of the account- type of business (for listed/non-listed types)... location- whether HIDTA, HIFCA area and monitoring (to be completed by employee) follow up for business. I can't share, but that is basically what is on there. Examiners like it, I like it, helps immensely with risk rating and BSA monitoring, etc...

My former bank used one like Allyson described. It was VERY useful when collecting the required documents to open an account. If the customer did not have all the documents they needed we would send the form with them so they could bring us what as needed.

Thanks Allyson & MonkEE:)

We have one too. It is similar to the individual one, but has places for all the agents or signers, etc. to obtain some information on them along with other information pertinent to only a business.

We also have one and it asks questions regarding anticipated number and frequency of deposits, cash vs checks, plus questions to determine if the business is an MSB. If they answer yes to those questions, another form comes out with more specific MSB questions. It is critical information that allows you to monitor the account more accurately. You need to create your form based on the complexity of your bank (maybe you don't offer certain services.)