Posted By: Mel in WA
Change in Authorized Signers - Event? - 03/14/18 07:41 PM
Do you consider a change in authorized signers to be a triggering event that warrants a Certification of Beneficial Owners?
For example, a bookkeeper is an authorized signer on the business account. She leaves the company and is removed from the account and replaced by the new bookkeeper. Nothing has changed in the ownership structure or TIN. I believe this is not a "new account" per the regulation and a CBO is not required.
However, if the new bookkeeper is now the new control person, a new CBO should be obtained, correct?
For example, a bookkeeper is an authorized signer on the business account. She leaves the company and is removed from the account and replaced by the new bookkeeper. Nothing has changed in the ownership structure or TIN. I believe this is not a "new account" per the regulation and a CBO is not required.
However, if the new bookkeeper is now the new control person, a new CBO should be obtained, correct?