The Customer Identification Program (CIP) is the process that HSA custodian banks use to verify your identity when opening your account. This process uses four pieces of information:
- Legal name
- Date of birth
- Address
- Social Security number
Automatic verification
Usually, this information is collected during the enrollment process and CIP is completed automatically. With automatic verification there's nothing you need to do.
Manual verification
Occasionally, further verification may be required. This could happen for a variety of reasons, such as an incorrect Social Security number, recently moving to a new address, or recently changing your legal name. This prevents the custodian bank from verifying your identity.
In this case, you will receive a CIP verification email or letter around 7-10 business days after the plan year begins, asking you to submit documents to help verify your identity. Then, the HSA will be opened in 7-10 business days.
Below is a list of or acceptable documents to verify identity.
