Answer:
This is a question only your CIP can answer; i.e. there is no regulatory answer to this question.
The trust itself, not the trustee or the grantor, is your customer. So, you need the name, address and taxpayer identification number if it's a U.S. trust. You verify as much of that information as is necessary by documentary and nondocumentary methods. You can verify the name by looking at the trust document. You can verify the TIN by using the IRS's E Services. You can verify the address by requiring a copy of IRS correspondence sent to that address or requiring the first page of the 1041 from a prior year which shows that address.
First published on BankersOnline.com 5/16/05
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