Customer Identification Program Policy

$295.00

This Customer Identification Program Policy Template addresses the Customer Identification Program (CIP) of a bank, credit union, fintech company, 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.  See more information about this product below.  In addition, we recommend adding a Product Update Protection Plan to your shopping cart to ensure you automatically receive an updated version of this policy template every time it is revised by us via e-mail within one year from the date of purchase.

Customer Identification Program Policy

This Customer Identification Program Policy Template addresses the Customer Identification Program (CIP) of a bank, credit union, fintech company, 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
  • Exemptions – Topic 13
  • Other Legal Requirements – Topic 14
  • Use of Third-Parties – Topic 15
  • Customer Notice Procedures – Topic 16
  • Audit Policy – Topic 17
  • Staff Training – Topic 18
  • Retention of Documentation – Topic 19

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:
03/04/24 Update
FinCEN Final Rule – Beneficial Ownership Information Access and Safeguards
12/04/23 Update
FinCEN Final Rule – FinCEN Extends Deadline for Companies Created or Registered in 2024 to File Beneficial Ownership Information Reports
11/15/23 Update
FinCEN Final Rule – FinCEN Finalizes Rule on Use of FinCEN Identifiers in Beneficial Ownership Information Reporting
08/15/23 Update
FFIEC Announcement 2023-02 – Federal and State Regulators Release Updates to the BSA/AML Examination Manual
10/17/22 Update
FinCEN Final Rule – Beneficial Ownership Information Reporting Requirements
07/05/22 Update
FinCEN – Statement on Bank Secrecy Act Due Diligence for Independent ATM Owners or Operators
12/15/21 Update
FFIEC Press Release – Federal and State Regulators Release Updates to BSA/AML Examination Manual

This Customer Identification Program Policy Template (approximately 104 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.

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.

BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.

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.

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