Resolution CMN No. 2025 — Amends and Consolidates Regulations on the Opening, Maintenance, and Movement of Deposit Accounts

RESOLUTION NO. 002025

Amends and consolidates the regulations regarding the opening, maintenance, and movement of deposit accounts.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the MONETARY COUNCIL NATIONAL, in a session held on November 24, 1993, considering the provisions of
Article 4, item VIII, of the aforementioned Law, and Article 64 of Law No. 8,383, of
December 30, 1991,

RESOLVED:

Article 1. For the opening of a deposit account, complete identification of the depositor is mandatory, through the completion of a proposal form containing, at minimum, the following information:

I - Qualification of the depositor:

a) Natural persons:

1. Full name;
2. Parentage;
3. Nationality;
4. Date and place of birth;
5. Sex;
6. Marital status;
7. Name of the spouse, if married;
8. Profession;
9. Identification document (type, number, date of issue, and issuing authority);
10. Registration number with the Register of Natural Persons (CPF);

b) Legal entities:

1. Corporate name;
2. Main activity;
3. Form and date of incorporation;
4. Documents, containing the information referred to in the preceding clause, that qualify and authorize the representatives, attorneys, or agents to operate the account;
5. Registration number with the General Register of Taxpayers (CGC);

II - Full address, containing:

a) Street name;

b) Neighborhood;

c. Postal code (CEP);

d) City;

e) Federative unit;

III - Telephone number and DDD code;

IV - Reference sources consulted;

V - Date of account opening and respective number;

VI - Signature of the depositor.

Sole Paragraph 1. If the deposit account is held by a minor or an incapacitated person, in addition to their qualification, the responsible person who assists or represents them must also be identified.

Sole Paragraph 2. In cases of exemption from CPF and CGC provided for in current legislation, this fact must be recorded in the field of the proposal form designated for this information.

Article 2. The proposal form for a demand deposit account must also contain clauses addressing, among others, the following matters:

I - Minimum average balance required for account maintenance;

II - Conditions established for the provision of a checkbook;

III - Charging of a tariff, expressly defined, for an inactive account;

IV - Notification by the depositor, in writing, of any change of address or telephone number;

V - Inclusion of the depositor's name in the Register of Issuers of Bad Checks (CCF), in accordance with current regulations, in the event of issuing a bad check, with the return of the checks in the depositor's possession to the institution;

VI - Information that checks that have been cleared, microfilmed, and not claimed within a period of 60 (sixty) days may be destroyed.

Sole Paragraph. An inactive account, for the purposes of item III of this article, is considered an account not operated for more than 6 (six) months.

Article 3. The information contained in the proposal form, as well as all identification elements, must be verified against competent documentation.

Sole Paragraph 1. Every proposal form must:

I - Indicate the name of the employee responsible for opening the account and the name of the manager responsible for verifying and checking the documents presented by the applicant;

II - Contain a declaration, signed by the manager referred to in the preceding item, in the following terms:

"I take responsibility for the accuracy of the information provided, based on the originals of the identity document, CPF/CGC, and other supporting documents of the other information elements presented, under penalty of application of the provisions of Article 64 of Law No. 8,383, of December 30, 1991."

Sole Paragraph 2. The financial institution must keep archived, along with the proposal form for account opening, legible and good-quality copies of the documentation referred to in this article.

Article 4. The proposal forms, as well as the copies of the documentation referred to in the previous article, may be microfilmed, after a minimum period of 5 (five) years, observing current regulations.

Article 5. The opening of an account under an abbreviated name or in any other altered form, including by suppressing part or parts of the depositor's name, is prohibited.

Article 6. The provision of a checkbook to the depositor is forbidden while the information contained in the proposal form has not been verified or when, at any time, irregularities in the identification data of the depositor or their attorney are found.

Article 7. The checkbook may only be delivered upon receipt dated and signed by the depositor or bearer expressly authorized, which must be identified at the time of delivery.

Sole Paragraph. If the provision of a checkbook is suspended, the financial institution must take immediate measures to retrieve the checks in the depositor's possession.

Article 8. When, for any reason, the holder is unable to receive a checkbook, the demand deposit account may only be operated by means of a single check, payable to the issuer's own name, by receipt, or by electronic payment means.

Sole Paragraph. The operation of the account referred to in this article will be carried out without charge to the depositor.

Article 9. It is forbidden to stipulate clauses in the proposal form that, under any circumstances, prevent or create limitations on the suspension of payment of checks.

Sole Paragraph. The prohibition contained in this article does not prevent the charging of a tariff, provided it is expressly provided for in the proposal form.

Article 10. The financial institution is authorized to open, maintain, or close a demand deposit account whose holder appears or has appeared in the Register of Issuers of Bad Checks (CCF).

Sole Paragraph. The provision of a checkbook to the depositor is forbidden while they appear in the CCF.

Article 11. The financial institution must maintain a card with updated autographs of the depositor; the proposal form for a demand deposit account may serve for this purpose.

Article 12. Upon closing a demand deposit account, the financial institution must:

I - Issue notice to the holder, requesting the withdrawal or regularization of the balance and the return of any checks in their possession;

II - Record the occurrence in the depositor's proposal form.

Article 13. The financial institution must close a deposit account regarding which it verifies irregularities in the information provided, judged to be of a serious nature, communicating the fact immediately to the Central Bank of Brazil.

Article 14. The provisions of this Resolution apply to existing deposit accounts, including deposit accounts referred to in Circular Letter No. 5, of February 27, 1969, insofar as applicable, and the proposal form must contain the qualification and identification of the responsible person, in the country, for the operation of the account, when applicable.

Sole Paragraph. The registers related to the accounts referred to in this article must be subject to verification and update by June 30, 1994.

Article 15. Financial institutions must expressly designate a director who must ensure compliance with the regulations on the opening, maintenance, and movement of the accounts referred to in this Resolution.

Sole Paragraph. The name of the director designated under this article must be reported to the Central Bank of Brazil, within a maximum period of 30 (thirty) days from the date of publication of this Resolution.

Article 16. Non-compliance with the provisions of this Resolution, regarding the opening, maintenance, movement, and verification of the accounts mentioned in this normative act, will be considered a serious offense for the purposes of Article 44 of Law No. 4,595, of December 31, 1964, without prejudice to other applicable sanctions.

Article 17. The Central Bank of Brazil may issue regulations and adopt the necessary measures for the execution of the provisions of this Resolution.

Article 18. This Resolution enters into force on January 1, 1994, when Articles 1 to 5, inclusive, of the Regulation annexed to Resolution No. 1,631, of August 24, 1989, with the wording given to them by Resolution No. 1,682, of January 31, 1990, items 1 to 12, inclusive, of Circular No. 1,528, of August 24, 1989, Circular No. 1,586, of March 2, 1990, Article 2 of Circular No. 1,591, of March 9, 1990, and Circular No. 2,262, of January 6, 1993, are repealed.

Brasília, November 24, 1993

Pedro Sampaio Malan
President