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ID and the custodian

Answered by: 
Deborah Crawford

Question: 
Who do you CIP on a UTMA account?
Answer: 

Your financial institution must identify the person acting for the minor under Customer Identification Programs (CIP).

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Learn more about Deborah Crawford’s Opening and Maintaining Fiduciary Accounts webinar.

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First published on 10/09/2022

Filed under: 
Operations
Filed under operations as: 
Audit
Internal Controls
Branches
Bank Secrecy Act
Anti-Money Laundering
Deposit
Lending
OFAC
Operations
Risk Assessment/Risk Management

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