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Event Date Mon Mar 29 EDT (over 1 year ago)
Location Webinar
Region All

The new accounts person has the burden of opening an account for the business customer and obtaining documentation to make certain this customer exists. The person must be familiar with CIP requirements, Beneficial Owner information, IRS provisions and the institution’s policies and procedures. This ninety minute webinar will cover various business types including corporations, LLCs, and partnerships. This will include a review of the types of documents that may apply to your non-personal accounts. While each financial institution will set its own documentation requirements, this program will explain the different types of documentation so the financial institution may make an informed decision on the documents to require.

Here's What You Will learn

• Definitions for business entities, such as sole proprietorships, corporations, partnerships and limited liability companies.
• Beneficial Ownership requirements for legal entity customers;
• IRS requirements for commercial customers;
• Examples of documents used to verify identity and establish account transaction authority.