Client Identification

If you come under the legislation, FINTRAC requires you to:

• record client information for all buyers, and verify the information with acceptable ID
• ask whether the buyer is purchasing for someone else (a third party), and try to get the same information about that individual or company
• keep this information for five years

The information and verification is different for different kinds of buyers

• People buying for themselves    More
• Buyers who are corporations, partnerships, etc.    More
• Buyers who are purchasing for someone else    More
• Foreign buyers    More