Oops - sorry
http://www.law.cornell.edu/cfr/text/31/103.34
But specifically here is what I was questioning:
§ 103.34
Additional records to be made and retained by banks.
(a) (1) With respect to each certificate of deposit sold or redeemed after May 31, 1978, and before October 1, 2003, or each deposit or share account opened with a bank after June 30, 1972, and before October 1, 2003, a bank shall, within 30 days from the date such a transaction occurs or an account is opened, secure and maintain a record of the taxpayer identification number of the customer involved; or where the account or certificate is in the names of two or more persons, the bank shall secure the taxpayer identification number of a person having a financial interest in the certificate or account. In the event that a bank has been unable to secure, within the 30-day period specified, the required identification, it shall nevertheless not be deemed to be in violation of this section if (i) it has made a reasonable effort to secure such identification, and (ii) it maintains a list containing the names, addresses, and account numbers of those persons from whom it has been unable to secure such identification, and makes the names, addresses, and account numbers of those persons available to the Secretary as directed by him. A bank acting as an agent for another person in the purchase or redemption of a certificate of deposit issued by another bank is responsible for obtaining and recording the required taxpayer identification, as well as for maintaining the records referred to in paragraphs (b) (11) and (12) of this section. The issuing bank can satisfy the recordkeeping requirement by recording the name and address of the agent together with a description of the instrument and the date of the transaction. Where a person is a non-resident alien, the bank shall also record the person's passport number or a description of some other government document used to verify his identity.
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This regulation has inserted the dates After June 1972 but before Oct 2003. My question is does this apply to 2013? OR does anyone know of a similiar regulation that is updated that is similiar to the bank REQUESTING the SSN as opposed to it is required by law under blah blah section. Does the bank have standing for the requirement? Also as a tid bit udner 5 USC 552a(e) - agency requirements
http://www.law.cornell.edu/uscode/text/5/552a - this further clarifies the issue that ANY agency is required to disclose the SSN is mandatory or voluntary, the purpose, the use of and what if I do not provide the SSN what are the consequences. In the past the bank would say - its the patriot act and it is required. This is not a satisfactory response.
Also for further clarification - REGARDLESS WHETHER THE SSN IS GIVEN OR NOT TO THE BANK DOES THIS PHRASE ON THE SIGNATURE CARD NEGATE ANY AND ALL CLAIMS, INCLUDING BY COURT ORDER FOR THE REMOVAL OF ANY MONIES FROM THE ACCOUNT WITH OUT THE PERMISSION OF SIGNATORY OR OWNER OF SAID ACCOUNT:
All transactions on account are intended by Demand to be Redeemed in Lawful Money pursudant to 12 USC 411. All transactions with this bank will be done by Special Deposit NUNC PRO TUNC.
It is my understanding that anything "deposited by special deposit" is in fact under "equity" and can not be "taken or removed" without said permission of owner. Can anyone help clarify this? Thanks Tony