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. Attendee participation is encouraged throughout the program.
What You Will Learn:
Account Opening Procedures
• Customer Identification
• Verify Depositor Information
• Standardizing Procedures
Taxpayer ID No. Documentation
• Obtaining the Appropriate TIN
• Required Certifications
• Nonresident Alien Requirements
• Individual Accounts
• Single Party Account with Convenience or Authorized Signers
• Informal Trusts
• Uniform Transfers 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
• Grantor Trust – Revocable Living Trusts
• Court Appointed Personal Fiduciaries
• Social Security or SSI Representative Payee
• Sole Proprietorships
• Limited Liability Companies
• Lawyer’s Trust Accounts
• Political Campaign Funds
• 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
The educational investment is $199. Small credit union discount applies!
Registration deadline: March 20, 2013
Joequetta Jackson is a Consultant at PBS. Prior to joining the firm in 2004, Ms. Jackson served as a compliance examiner for the Federal Reserve Bank of Cleveland in the Cincinnati branch. While at the Federal Reserve, Ms. Jackson also served as a Consumer Complaint liaison between consumers and state member banks. Ms. Jackson is a 2002 graduate of the Louis D. Brandeis School of Law and is licensed to practice law in Kentucky.
Who Should Attend
This is a comprehensive seminar developed for new accounts personnel, operations officers and others who have responsibility for administering or supervising deposit 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.
Agenda (all times shown are local time)
9 - 9:30 a.m. Registration and refreshments
9:30 a.m. - Noon Seminar begins
Noon - 12:45 p.m. Group luncheon
12:45 - 4:00 p.m. Seminar resumes
REGISTRATIONS CANCELLED LESS THAN FIVE WORKING DAYS BEFORE THE SESSION DATE WILL BE SUBJECT TO A 50 PERCENT CANCELLATION FEE.
IF YOU HAVE A DISABILITY REQUIRING SPECIAL SERVICES, CONTACT KIM SETTLES AT (800) 285-5300, EXT. 5341, OR (317) 594-5341 PRIOR TO THE SESSION.
Please share this information as appropriate in your credit union. If there are others at your credit union who would like to be added to the list to receive information about the League's upcoming education sessions, please reply to this email.