[Code of Federal Regulations]

[Title 31, Volume 1]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR103.28]



[Page 392-393]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

                       DEPARTMENT OF THE TREASURY

 

PART 103_FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN 

TRANSACTIONS--Table of Contents

 

                  Subpart B_Reports Required To Be Made

 

Sec. 103.28  Identification required.



    Before concluding any transaction with respect to which a report is 

required under Sec. 103.22, a financial institution shall verify and 

record the name and address of the individual presenting a transaction, 

as well as record the identity, account number, and the social security 

or taxpayer identification number, if any, of any person or entity on 

whose behalf such transaction is to be effected. Verification of the 

identity of an individual who indicates that he or she is an alien or is 

not a resident of the United States must be made by passport, alien 

identification card, or other official document evidencing nationality 

or residence (e.g., a Provincial driver's license with indication of 

home address). Verification of identity in any other case shall be made 

by examination of a document, other than a bank signature card, that is 

normally acceptable within the banking community as a means of 

identification when cashing checks for nondepositors (e.g., a drivers 

license or credit card). A bank signature card may be relied upon only 

if it was issued after documents establishing the identity of the 

individual were examined and notation of the specific information was 

made on the signature card. In each instance, the specific identifying 

information (i.e., the account number of the credit card, the driver's



[[Page 393]]



license number, etc.) used in verifying the identity of the customer 

shall be recorded on the report, and the mere notation of ``known 

customer'' or ``bank signature card on file'' on the report is 

prohibited.



(Approved by the Office of Management and Budget under control number 

1505-0063)



[52 FR 11443, Apr. 8, 1987; 52 FR 12641, Apr. 17, 1987, as amended at 54 

FR 3027, Jan. 23, 1989. Redesignated at 54 FR 33678, Aug. 16, 1989; 59 

FR 61662, Dec. 1, 1994]