Starting May 11, 2018, Peoples Bank, along with other banks and financial institutions across the country, will be required to collect information on the owners and controllers of businesses.
By providing us information on the ownership of your company on our new Beneficial Ownership Attestation form.
To help the government fight financial crime, federal regulation requires certain financial institutions to obtain, verify and record information about the beneficial owners of legal entity customers. Legal entities can be abused to disguise involvement in terrorist financing, money laundering, tax evasion, corruption, fraud, and other financial crime. Requiring the disclosures of key individuals who ultimately own or control a legal entity (i.e., the beneficial owners) helps law enforcement investigate and prosecute these crimes.
This form must be completed by the person opening a new account on behalf of a legal entity with any of the following U.S. financial institutions: (i) a bank or credit union; (ii) a broker or dealer in securities; (iii) a mutual fund; (iv) a future commission merchant; or (v) an introducing broker in commodities.
For the purposes of this form, a legal entity includes a corporation, limited liability company, partnership, and any other similar business entity formed in the United States or a foreign country.
This form requires you to provide the name, address, date of birth and social security number (or passport number or other similar information, in the case of foreign persons) for the following individuals (i.e. beneficial owners):
If instructed, download the Beneficial Ownership Attestation form (PDF) (right-click and select “Save Link As” or “Save Target As”). Fill in the form using the free Adobe Acrobat reader program, print and sign it and bring it to the bank.