MORNBFI Vol. 1 - Planters Development Bank

§§ 4806Q.2.a. - 4806Q.2.c.11.12.3110. Tax identification number, SSSnumber or GSIS number, if any; and11. Name, present address, date andplace of birth, nature of work and source offunds of beneficial owner or beneficiary,whenever applicable.(Circular No. 706 dated 05 January 2011)§ 4806Q.2.b. New corporate andjuridical entities. Covered institutions shalldevelop a systematic procedure foridentifying corporate, partnership and soleproprietorship entities as well as thestockholders/partners/owners, directors,officers and authorized signatory of theseentities. It shall open and maintain accountsonly in the true and full name of the entityand shall have primary responsibility toensure that the entity has not been, or is notin the process of being, dissolved,struck-off, wound-up, terminated, orotherwise placed under receivership orliquidation.Unless otherwise stated in this Part,average due diligence requires that thecovered institution obtain the followingminimum information and/or documentsbefore establishing business relationships:1. Certificates of Registration issued bythe Department of Trade and Industry forsingle proprietors, or by the SEC, forcorporations and partnerships, and by theBSP, for money changers/foreign exchangedealers and remittance agents;2. Articles of Incorporation orAssociation and By-Laws;3. Principal business address;4. Board or Partners’ Resolution dulycertified by the Corporate/Partners’Secretary authorizing the signatory to signon behalf of the entity;5. Latest General Information Sheetwhich lists the names of directors/trustees/partners, principal, stockholders owning atleast twenty percent (20%) of theoutstanding capital stock and primaryofficers such as the President and Treasurer;6. Contact numbers of the entity andauthorized signatory/ies;7. Source of funds and nature ofbusiness;8. Name, present address, date andplace of birth, nature of work and source offunds of beneficial owner or beneficiary, ifapplicable; and9. For entities registered outside thePhilippines, similar documents and/orinformation shall be obtained dulyauthenticated by the Philippine Consulatewhere said entities are registered.(Circular No. 706 dated 05 January 2011)§ 4806Q.2.c. Valid identificationdocuments. The following guidelines governthe acceptance of valid ID cards for all typesof financial transaction by a customer andthe authorized signatory/ies of a corporateor juridical entity, including financialtransactions involving Overseas FilipinoWorkers (OFWs), in order to promoteaccess of Filipinos to services offered byformal FIs, particularly those residing in theremote areas, as well as to encourage andfacilitate remittances of OFWs through thebanking system:(1) Customers and the authorizedsignatory/ies of a corporate or juridicalentity who engage in a financial transactionwith covered institutions for the first timeshall be required to present the original andsubmit a clear copy of at least one (1) validphoto bearing ID document issued by anofficial authority.For this purpose, the term officialauthority shall refer to any of thefollowing:a. Government of the Republic of thePhilippines;b. Its political subdivisions andinstrumentalities;c. GOCCs; andd. Private entities or institutionsregistered with or supervised or regulatedeither by the BSP, SEC or IC.Q RegulationsPart VIII - Page 12Manual of Regulations for Non-Bank Financial Institutions