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How to Fill Out CIP for Customer on Disability

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Question: 
If you are filling out a CIP for a new customer and the customer is on disability, what should you put in the field for employer and occupation?
Answer: 

The CIP regulation does not require you to obtain a customer's employer or occupation. Unless it is referenced in your board adopted customer identification program, your request for the information is simply a part of your due diligence effort.

For employer, the answer would simply be "None." For occupation you could use the same response or, if you choose (this is not a CTR) you could put in the former occupation if there was one.

First published on BankersOnline.com 6/24/13

First published on 06/24/2013

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