USA PATRIOT ACT
USA Patriot Act Customer Identification Program fighting terrorism and money laundering activities.
Important information about procedures for opening a new account.
To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify, and record information that identifies each person who opens an account. This notice answers some questions about IPG’s Customer Identification Program.
What types of information will I need to provide?
When you open an account, IPG is required to collect information such as the following from you:
- Your name
- Date of birth
- Address
- Identification number:
- U.S. Citizen: taxpayer identification number (social security number or employer identification number)
- Non-U.S. Citizen: taxpayer identification number, passport number, and country of issuance, alien identification card number, or government-issued identification showing nationality, residence, and a photograph of you. You may also need to show and/or provide a copy of your driver’s license or other identifying documents.
- A corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement, or a trust agreement.
U.S. Department of the Treasury, Securities and Exchange Commission, FINRA, and New York Stock Exchange rules already require you to provide additional information, such as your net worth, annual income, occupation, employment information, investment experience and objectives, and risk tolerance.
What happens if I don’t provide the information requested or my identity can’t be verified?
IPG may not be able to open an account or carry out transactions for you. If you presently have an account with us and add a joint owner or owners to an existing account, we must also verify and retain copies of their identification. If we already have an account opened for you, such account may be subject to closure if qualifying information cannot be obtained and updated periodically per request.
We thank you for your patience and hope that you will assist IPG in supporting the financial industry’s efforts to deny terrorists and money launderers access to America’s financial system.