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Who signs for beneficial ownership?

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Is the person who opens the account for beneficial ownership the person who comes into the financial institution?

Not necessarily. Usually the person who opens the account is the person who signs the certification. This was a discussion in the Federal Register. It needs to be the person who can say all the information on the form was correct.


Learn more about Deborah Crawford’s webinar New Guidance on Customer Due Diligence Requirements

First published on 09/20/2020

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