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Event Date Thu Apr 8 EDT (over 1 year ago)
Location Virtual
Region All

What is the difference between “joint with rights of survivorship” and “tenants in common”? What is a revocable living trust and how do we document it? Do we really need a corporate resolution? How do we open accounts for minors?

Have you or someone at your institution asked these questions and others like them? If so, don’t miss this seminar. The focus is on the day the account is opened. It provides hard to get state law requirements for ownership and documentation. Attendees learn the “why” behind standard operating procedures. The program also covers CIP procedures and IRS Reporting compliance issues. The manual and the presentation suggest the procedures for standardizing the account opening process. The speaker uses “plain language” and “real-world” examples.


Account Opening Procedures
• Customer Identification
• Verify Depositor Information
• Standardizing Procedures

Taxpayer ID No. Documentation
• Obtaining the Appropriate TIN
• Required Certifications
• Nonresident Alien Requirements

Account Titles
• Individual Accounts
• Single or Multiple Party Account with Designated Agent
• Informal Trusts
• Uniform Transfers (or Gifts) to Minors Act
• Minor Accounts
• Joint Accounts with Rights of Survivorship
• Joint Accounts without Rights of Survivorship
• Payable on Death Accounts
• Funeral Trust Accounts
• Estate Accounts
• Valid Trust
• Pension Plans
• Customer Due Diligence/Beneficial Ownership Rule
• Certification Regarding Beneficial Ownership
• Grantor Trust – Revocable Living Trusts
• Court Appointed Personal Fiduciaries
• Social Security or SSI Representative Payee
• Sole Proprietorships
• Partnerships
• Corporations
• Limited Liability Companies
• Lawyer’s Trust Accounts
• Political Campaign Funds

Proper Documentation
• Personal Accounts
• Business Accounts
• Fiduciary Accounts
• Organizational Accounts
• Powers of Attorney

Handling Requests for Change
• Changes at Request of Customer
• Changes Due to Death
• Adding Owners
• Deleting Owners

Who Should Attend?
This is a comprehensive seminar developed for new accounts personnel, auditors, bookkeepers, operations officers and others who have responsibility for administering customer accounts. It is a fast-paced introduction for the new employee who needs an overview of deposit accounts and is designed to "tie everything together" for experienced personnel. No advance preparation is required.


2021 Speaker


Mark Burnside, CRCM
Vice President and Senior Consultant, ProBank Austin