WSB USA PATRIOT Act Notice

Notice to All

Customer Identification under USA PATRIOT Act

In order to help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies all persons opening new accounts or being added as signatories to existing accounts. The Woodford State Bank cannot waive this requirement.

What this means to you:

When you open an account, or are being added as a signatory to an existing account, we will ask you for the following information:

• Name
• Physical Address
• Mailing Address, if different than Physical Address
• Date of Birth
• Social Security Number or Tax Identification Number
• Copy of a government issued photo ID (such as driver’s license, passport, State issued ID, etc.)

Additional data or identification, as required under the USA Patriot Act, may also be gathered depending on the type of account being opened.

IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT

Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.

EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:

• Each individual that has beneficial ownership (25% or more); and,
• One individual that has significant managerial control, of the Legal Entity.

If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.

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.

We may also require you to provide additional information, such as your net worth, annual income, occupation, employment information, etc.

What happens if I don’t provide the information requested or my identity can’t be verified?

You or your business may not be able to open an account or carry out transactions. If you or your business has already opened an account, you or they may have to close it.

Data on an existing customer will be gathered as they open or use additional services offered by the Bank. The USA PATRIOT Act requires the Bank to maintain records of the identification, verification information and to update existing information.

Confidentiality of this information will be maintained as required under the Privacy Act and all other applicable laws and regulations.