We have a customer who is being added to another account. When asked for his social security number he refused to give it to us. He said everyone says not to give out your social security number and since his number will not be used for reporting income he does not feel we need his number.
We always tell our customers not to give out personal information. So what do we tell the customer, don't give your SS# to anyone, but give it to us?
Any rules on this?

If this individual is becoming a joint owner of an existing account, the CIP Q&A document indicates that a new customer relationship is being established (see question #2 under the heading for "Definition of Customer" on page 4). That would require that you obtain all four of the identification elements required by CIP, and that includes the SSN.

If the individual is being added as an authorized signer (not a co-owner) on an existing account, the CIP regulation doesn't consider the individual a customer from whom you must obtain ID information. However, if your bank's CIP requires that you "CIP" such individuals, you must, or your bank can be cited for not complying with its own policy.

Duplicate post