Opening and maintaining deposit accounts for businesses and fiduciaries is becoming increasingly complicated. This seminar provides answers to your questions regarding documentation, due diligence, ownership and access on these types of accounts.
Those attending learn Kentucky specific information regarding forming new businesses and making changes to existing businesses. Fiduciary relationships recognized by state and federal law are also discussed in detail. This program explores documentation options and identifies "best practices" for opening and maintaining these types of accounts.It also includes an explanation of Federal regulatory requirements and allowances at account opening, including risk analysis, determination of beneficial owners, account eligibility, IRS TIN requirements and more. The discussion of business resolutions includes a review of bank forms (see below).
Account types discussed include:
• Powers of Attorney,
• Estates,
• Trusts – revocable and irrevocable,
• Benefit and memorial funds,
• Guardians and Conservators,
• Representative Payees,
• Campaigns,
• Escrows,
• Sole Proprietorships,
• Partnerships,
• Limited Liability Companies,
• Corporations,
• Clubs and Organizations and
• Public funds.
Note: Attendees are asked to bring signature cards, account disclosures and resolutions for review during the program.
Who should attend: The program is designed for all new accounts representatives and supervisors. Auditors and trainers also find the information beneficial. The material is presented at the intermediate level, but time is allotted for basic questions as well.
