Customer Identification Program (CIP) Policy - $175.00


The purpose of this Customer Identification Program (CIP) Policy Template is to address the Customer Identification Program (CIP) of a bank, credit union, or other type of financial institution in order to adhere to Section 326 of the USA Patriot Act regarding the requirement to implement reasonable procedures to verify the identity of any person.

Table of Contents

Purpose and Contents - Topic 1
Policy Statement - Topic 2
Definitions - Topic 3
Structure of Accountability - Topic 4
Customer Due Diligence Program - Topic 5
Minimum Identity Verification Standards - Topic 6
Procedures for Verification of Identity - Topic 7
Procedures for Lack of Identity Verification - Topic 8
Rules for Special Accounts, Persons and Other Entities - Topic 9
Additional Account Opening Procedures - Topic 10
Comparison with Government Lists - Topic 11
Information Sharing Procedures - Topic 12
Customer Notice Procedures - Topic 13
Audit Policy - Topic 14
Staff Training - Topic 15
Retention of Records - Topic 16

Includes the following form templates:
BSA Certification for Beneficial Owners Form (2 pages)
BSA CIP New Customer Information Sheet (1 page)

Recent updates to this product:
09/04/18 Update
Extension of Limited Exception from Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Rollovers and Renewals - FIN-2018-R003
06/04/18 Update
FFIEC Issues New Customer Due Diligence and Beneficial Ownership Examination Procedures
FIN-2018-R001 - Premium Cash Finance Refunds and Beneficial Ownership Requirements for Legal Entity Customers
FIN-2018-R002 – Beneficial Ownership Requirements for Legal Entity Customers of Certain Products and Services with Automatic Rollovers or Renewals
10/02/17 Update
FinCEN - Technical Corrections to Customer Due Diligence Final Rule
06/06/16 Update
FinCEN - Customer Due Diligence Requirements for Financial Institutions (Beneficial Ownership Rule)

This Customer Identification Program Policy Template (approximately 77 pages) is available to purchase from in Microsoft® Word format for $175.00.

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