You do not have to verify that the beneficial owner is a beneficial owner (e.g. copies of stock certificates, organization docs) but you do have to verify enough information to form a reasonable belief that you have identified the person (as MScarn noted). The beneficial owner procedures may vary from your CIP verification. For example. the beneficial owner rule allows you to request a copy of a government issued ID instead of viewing the original since a beneficial owner may not be present at account opening. You do not have permissible purpose to obtain a credit or Chexsystems report on a beneficial owner so your non-documentary verification may need to change.
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