This webinar series will encompass opening personal, business, trust, minor, power of attorney, estate accounts, and much more! Although not customized to specific state law, it will answer the more complicated and challenging questions customers and employees ask. Whether you are new to new accounts or have decades of experience, you will gain more confidence and be prepared to handle even the most complicated scenario!
This two-hour webinar focuses on the risks, procedures, best practices, and compliance requirements for opening personal and consumer accounts.
6-Step Account Opening Process
TIN Compliance
Personal Account Ownership Overview
Personal/Consumer Account Difficult Scenarios
Opening Accounts for Minors – UTMA
Who Can Access An Account During Lifetime And At Death
Power Of Attorney
Opening New Accounts Part 2: Business Accounts
This two-hour webinar examines not only the documentation requirements on business entities available in most states but also provides clarity on how to identify who has the authority to open and transact on behalf of the entity.
Business Account Documentation
Resolutions – Purpose and Proper Completion
Business Taxation Options and Why We Have To Care
Sole Proprietorships
General, Limited, Limited Liability, and Limited Liability Limited Partnerships
Limited Liability Company and Series LLC
Determining LLC Business and Tax Classification
Profit and Non-Profit Corporations
Understanding Sub-Chapter S Corporations (S-Corps)
Non-Profit Associations, Social Clubs, and Charitable Organizations
Adding and Removing an Owner or Non-Owner as a Signer
Access at the Death of a Business Account Signer/Owner
FinCen – Beneficial Ownership Due Diligence Requirements
Documenting Complicated Business Structures
TIN Compliance “Cheat Sheet” Included In Session
Opening New Accounts Part 3: Trust and Fiduciary
This two-hour webinar delves into the responsibilities of collecting appropriate documentation, providing ownership options, titling accounts correctly, and allowing proper access to trust, fiduciary, and minor accounts not only during lifetime but at the death of a signer as well.
Defining Trustee, Personal Representative, and Fiduciary Roles and Responsibilities
TIN Compliance for Trust, Minor and Fiduciary Accounts
Proper Account Titling
Formal vs. Informal Trust Comparison
Key Questions to Ask When Setting Up Trust Accounts
Six Pieces of Required Information For all Trust Accounts
Revocable vs. Irrevocable Trust Accounts
Payable on Death (POD)
As Trustee For, In Trust For, Totten Trusts
Minor Accounts
Court Ordered Accounts
Roles and Responsibilities of a Personal Representative
Understanding Estate Accounts
Guardianship/Conservator Accounts
Social Security Representative Payee
Veteran’s Affairs Fiduciary
What You’ll Learn
Each webinar will offer best practices and techniques you can implement in your organization.
Who Should Attend
Customer contact personnel, supervisors, and officers whose responsibilities include opening or managing new accounts, as well as Personal Bankers, BSA Officers, Deposit Operations, Branch Administration, CIP Managers, Training and Business Development Officers, Internal Auditors, and Compliance Officers will find the information beneficial. Lending assistants and officers will find the information informative as well.
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