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#903168 - 02/12/08 03:54 PM CIP Notice - Who Must Receive?
Norrie Offline
Member
Joined: Feb 2008
Posts: 67
Does the CIP Notice need to be provided to each new account holder (before an account is opened) or can just one person on the account receive the notice?

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BSA/AML/CIP/OFAC Forum
#903228 - 02/12/08 04:38 PM Re: CIP Notice - Who Must Receive? Norrie
devsfan Offline
Diamond Poster
Joined: Jun 2004
Posts: 1,927
NYC
Most banks simply post a notice at the 'new accounts desk' for all to see. I don't think that it needs to actually be given to the customer(s).

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#903284 - 02/12/08 05:14 PM Re: CIP Notice - Who Must Receive? devsfan
Dragonfly Offline
New Poster
Joined: May 2006
Posts: 11
Rocky Mountains
I agree with devsfan that the sign is the better way to go. You don't have to give out copies.
However if you prefer to give out notices, then my understanding is that it is sufficient to give the notice to one of the account holders (just like the other standard new account disclosures). You don't need to give a copy to each person.
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#903680 - 02/12/08 09:50 PM Re: CIP Notice - Who Must Receive? Dragonfly
Norrie Offline
Member
Joined: Feb 2008
Posts: 67
Thank you!

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