Hemp and CBD Business Questionnaire

Updated 10/02/2020

This tool provides a Questionnaire and certification template that can be used for hemp and hemp-derived CBD customers prior to account opening for those states who have USDA approved hemp plans, or who follow an approved Federal plan. For hemp-derived CBD, this Questionnaire should only be used if CBD is legal in your state. Always consult with bank counsel for your State's specific requirements. The following are the key points of the Questionnaire:

  1. Certification by the hemp and/or CBD related business that they are in compliance with state and federal laws and requirements, as applicable
  2. Serves as a customer due diligence tool for the bank in regards to beneficial ownership, business activities, money transmission and other high risk activities.
  3. Provides a list of documentation and information that as a best practice should be collected by the Bank.

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