Starting in 2018, the U.S. government requires all financial institutions to obtain, verify and record information about the beneficial owners of legal entity customers. This means that any time an account is opened or maintained for a legal entity, we will request information that identifies the ultimate beneficial owner(s) and controlling person of the legal entity. The required identifying information includes name, address, date of birth, identification number, and other information that will help identify those individuals. This information will need to be collected whether or not the person identified is a Landmark National Bank customer.
While we understand the information requested is personal and sensitive, we need to obtain this information in order to comply with the law. As always, we will treat all information collected with the utmost care. All information collected by Landmark is securely stored and handled in accordance with our strict privacy policies.
What information do I have to provide?
When opening an account for a legal entity, you will need to provide the name, primary residence address, date of birth and Social Security Number (as applicable) as well as the name of the issuer and number of the driver’s license or passport for:
Beneficial Owner: Each individual, if any, who owns, directly or indirectly, either 25 percent or more of the equity interests/corporate shares of the legal entity customer
Controlling Person: An individual with significant responsibility for managing the legal entity customer, including:
- Chief Executive Officer
- Chief Financial Officer
- Chief Operating Officer
- Managing Member
- General Partner
- Vice President