Verifying the Identity of a Foreign Signatory to a Business Account
Issue/Inquiry
A business entity wants to open a deposit account with the Bank, and provides a certificate of formation along with the EIN. The individual who will be the authorized signer is not a U.S. citizen and is only able to provide an IRS Individual Taxpayer Identification Number (“ITIN”) for himself, a Maryland driver’s license, and Mexican passport. The Bank believes that possession of an ITIN does not authorize a non-citizen to work in the U.S., and that an individual would need a work visa or SSN that was issued for “work purposes only”. How can the Bank verify that a non-resident alien is here in the United States lawfully?
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