Is there any prohibition on asking someone who is not a customer for their TIN when cashing checks drawn on us?
Effective May 2, 2006, insurance companies became subject to the requirement to file Suspicious Activity Reports (SARs).10 FinCEN issued guidance on May 31, 2006, which instr
FinCEN has reviewed recent calls received on its Regulatory Helpline 15 for the most frequently asked questions about suspicious activity reporting.
How should a CTR be completed for DBA account?
Currently we do a social security verification or a credit report on all new accounts to verify identity/and/or other information. Some reports verify the individual information to be the same as what we have on the person but will not verify that the social security number is actually issued to that person, but gives the date of issue and the state issued in. According to the CIP rules, are we required to verify that the number given is actually issued to that person? If so, do you know where or how to obtain that specific information?
Can we accept "for work purpose only" social security cards to open accounts?
I have a new account for a Non-Profit Unincorporated Association that is wanting to use the TIN of their For-Profit Sponsor. Shouldn't they be applying for their own TIN?
Is a CTR required if there was less than $10,000 in cash deposited into a personal acct and less than $10,000 in cash deposited into that individual’s business acct, which has a different Tax ID, but together they total over $10,000 in a single day? Would it only be required if we knew the deposits were brought in by the same conductor?
Our CIP policy states that for a sole proprietorship, we CIP only the owner following our consumer CIP procedures. Our consumer CIP procedures permit account opening for a non-resident alien without a TIN, and with a signed W-8. What are the requirements if a non-resident alien wants to open an account for a sole proprietorship? Do we not open the account if the owner does not have a social security number?
An exempted business changes the name of its business, but not its TIN. Do we need to file a new designation of exemption, and if so, do we mark it as amended?