Is SSN Required for Signers on an Account?

Answered by:

Question:

For additional signers who are non-owners of an account (business or personal) are we required to get their social security number for identification?

Answer:

The CIP regulations do not require you to obtain identifying information (including a SSN) from a mere signatory. However, you should review your board-adopted CIP to see if it includes such a requirement. If it does, then you must comply with it.

First published on BankersOnline.com 10/17/05