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Reg GG Form On Non-Profit Organization?

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Is a Reg. GG form needed on a non-profit organization, that is not Inc., such as a 4-H club?

First, there is no requirement that a bank use any sort of form to comply with Regulation GG.

Second, the regulation required you to establish and implement written policies and procedures that are reasonably designed to identify and block or otherwise prevent or prohibit payments related to unlawful Internet gambling that are restricted by UIGEA and are processed through your facilities.

Whether that involves some sort of customer form and to whom and when the form is presented is totally up to you.

First published on 05/18/2015

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