Treasury Services Help
An authorized representative of the legal entity will be required to provide and certify the accuracy of the following information for each identified beneficial owner:
- Full legal name;
- Date of Birth;
- Residential or Business Street Address (cannot be a PO Box);
- Social Security Number or Passport Number and Country;
- Ownership Percentage (not required for control person); and
- Copy of driver's license, passport or other valid government-issued photo identification.
Yes, anytime a legal entity expands its relationship with 1st Source Bank and at certain other times required by the Rule.
The above information regarding the beneficial owners plus additional information regarding the legal entity and the person opening the applicable account (or otherwise completing the form) will be collected in a Certification of Beneficial Owner(s) Form. The form will need to be executed by an authorized representative of the legal entity and can be submitted via hard copy in a banking center or via a secured electronic form.
Yes, most likely, if your business is a legal entity (i.e., corporation, limited liability company, partnership, etc.). Your banking representative will advise you if you are exempt. Notably, the Rule does not apply to individuals and sole proprietorships.