[Code of Federal Regulations]
[Title 31, Volume 1]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR103.35]

[Page 404-405]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
                      CHAPTER I--MONETARY OFFICES,
                       DEPARTMENT OF THE TREASURY
 
PART 103_FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN 
TRANSACTIONS--Table of Contents
 
               Subpart C_Records Required To Be Maintained
 
Sec. 103.35  Additional records to be made and retained by brokers or 
dealers in securities.

    (a)(1) With respect to each brokerage account opened with a broker 
or dealer in securities after June 30, 1972, and before October 1, 2003, 
by a person residing or doing business in the United States or a citizen 
of the United States, such broker or dealer shall within 30 days from 
the date such account is opened, secure and maintain a record of the 
taxpayer identification number of the person maintaining the account; or 
in the case of an account of one or more individuals, such broker or 
dealer shall secure and maintain a record of the social security number 
of an individual having a financial interest in that account. In the 
event that a broker or dealer has been unable to secure the 
identification required within the 30-day period specified, it shall 
nevertheless not be deemed to be in violation of this section if: (i) It 
has made a reasonable effort to secure such identification, and (ii) it 
maintains a list containing the names, addresses, and account numbers of 
those persons from whom it has been unable to secure such 
identification, and makes the names, addresses, and account numbers of 
those persons available to the Secretary as directed by him. Where a 
person is a non-resident alien, the broker or dealer in securities shall 
also record the person's passport number or a description of some other 
government document used to verify his identity.
    (2) The 30-day period provided for in paragraph (a)(1) of this 
section shall be extended where the person opening the account has 
applied for a taxpayer identification or social security number on Form 
SS-4 or SS-5, until such time as the person maintaining the account has 
had a reasonable opportunity to secure such number and furnish it to the 
broker or dealer.
    (3) A taxpayer identification number for a deposit or share account 
required under paragraph (a)(1) of this section need not be secured in 
the following instances: (i) Accounts for public funds opened by 
agencies and instrumentalities of Federal, state, local, or foreign 
governments, (ii) accounts for aliens who are (a) ambassadors, 
ministers, career diplomatic or consular officers, or (b) naval, 
military or other attaches of foreign embassies, and legations, and for 
the members of their immediate families, (iii) accounts for aliens who 
are accredited representatives to international organizations which are 
entitled to enjoy privileges, exemptions, and immunities as an 
international organization under the International Organizations 
Immunities Act of December 29, 1945 (22 U.S.C. 288), and for the

[[Page 405]]

members of their immediate families, (iv) aliens temporarily residing in 
the United States for a period not to exceed 180 days, (v) aliens not 
engaged in a trade or business in the United States who are attending a 
recognized college or university or any training program, supervised or 
conducted by any agency of the Federal Government, and (vi) 
unincorporated subordinate units of a tax exempt central organization 
which are covered by a group exemption letter.
    (b) Every broker or dealer in securities shall, in addition, retain 
either the original or a microfilm or other copy or reproduction of each 
of the following:
    (1) Each document granting signature or trading authority over each 
customer's account;
    (2) Each record described in Sec. 240.17a-3(a) (1), (2), (3), (5), 
(6), (7), (8), and (9) of Title 17, Code of Federal Regulations;
    (3) A record of each remittance or transfer of funds, or of 
currency, checks, other monetary instruments, investment securities, or 
credit, of more than $10,000 to a person, account, or place, outside the 
United States;
    (4) A record of each receipt of currency, other monetary 
instruments, checks, or investment securities and of each transfer of 
funds or credit, of more than $10,000 received on any one occasion 
directly and not through a domestic financial institution, from any 
person, account or place outside the United States.

(Approved by the Office of Management and Budget under control number 
1505-0063)

[37 FR 26518, Dec. 13, 1972, as amended at 38 FR 2176, Jan. 22, 1973; 52 
FR 11444, Apr. 8, 1987; 68 FR 25129, May 9, 2003]