Recertification Regarding Beneficial Owners Of Legal Entity Customer
Updated 02/27/2026
The bank may use this form if it has already identified the beneficial owner(s) on a separate Certification Form (or its equivalent) for the legal entity customer. The legal entity customer’s representative recertifies that information contained in the Certification Form is up-to-date and accurate at the time each subsequent account is opened or at the time of each subsequent renewal of a loan or CD.
Rule: 31 CFR 1010.230 – Beneficial ownership requirements for legal entity customers
Toolkit: BSA AML OFAC, New Accounts Commercial
Keywords: Beneficial Ownership, CDD Rule, Legal Entity Customer, Recertification, BSA
2/27/2026 – Note: Per FinCEN Exceptive Relief (FIN-2026-R001), issued February 13, 2026, the Bank is not required to obtain a new beneficial ownership certification for each additional account opened by an existing legal entity customer, provided the information was previously collected and remains accurate.
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