FIND YOUR TEMPLATE. FAST AND EASY!

Customer Identification Program (CIP) Policy

$175.00

The purpose of this Customer Identification Program 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.

Description

Customer Identification Program Policy

The purpose of this Customer Identification Program 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:
11/01/18 Update
Federal Banking Agencies and FinCEN Announce Exemption from Customer Identification Program Requirements for Premium Finance Loans
10/01/18 Update
Exceptive Relief from Beneficial Ownership Requirements for Legal Entity Customers of Rollovers, Renewals, Modifications, and Extensions of Certain Accounts
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 78 pages) is available to purchase from BankPolicies.com in Microsoft® Word format for $175.00.

NOTE: The complete contents of this product are also included in the Bank Secrecy Act Policy Template – Comprehensive Version.

Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.

When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.

Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.

You may also like…