USA Patriot Act Section 326

Financial institutions must collect basic identifying information before opening an account, including:

• Name.
• Date of birth (for individuals).
• Address.
• Taxpayer identification number or other permitted identifying number.

Financial institutions must verify customer identities using:

• Documentary methods, for example, government-issued identification.
• Non-documentary methods, for example, database checks or third-party verification.

Financial institutions must:

• Maintain records of customer identification and verification.
• Compare customers against government lists when required.
• Provide notice that identity verification information is being collected.

Financial institutions may rely on another regulated financial institution to perform certain customer identification program (CIP) functions if regulatory requirements are satisfied.