Required Format of CIP/Patriot Act Forms

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Question:

Does our CIP form/USA Patriot Act form need to be in a certain format or can we just ask the proper questions that are required and store them on our deposit and loan software without printing them?

Answer:

There is no requirement that you have a form, only that you obtain information; e.g. you could just input the information into your computer system without ever completing a piece of paper. Accordingly, there is no model form or even a preferred format.

First published on BankersOnline.com 5/16/05