What you will receive: New Account Handbook and a Deposit Compliance Handbook

Day One—Opening Deposit Accounts Documentation and Procedures

Learn how to open approximately 30 types of legal ownerships. We will cover consumer accounts, business accounts, deceased accounts and nonprofits. We will review the tax reporting, documentation requirements and best practices in our industry.

Submit a copy of your signature card, resolutions and terms and conditions before the program.

Types of Accounts to be Reviewed:

-Single Party

-Multiple Party-WROS and WOROS

-Payable On Death/ In Trust For Accounts

-Power of attorneys

-Uniform Transfer to Minors Act

-Qualified Income Trust

-Formal Trusts—Revocable and Irrevocable

-Estate Accounts

-Sole Proprietorships

-Partnerships

-Corporations

-Limited Liability Companies

-IOLTA

-Agency

-Nonprofits

-And many more

Day Two—Deposit Regulations – Federal Rules

Learn about the federal compliance issues connected with Deposit Accounts.

-IRS Reporting-SSN, EINs, ITINs and FTINs

-What disclosures are given at New Accounts to whom

-Understanding hold to put a hold on a checking account

-Legal differences between checking accounts, savings accounts and time deposits

-Truth In Savings Issues at account opening

-Regulation E and authorized transactions

-CTRs

-Red Flags for Identity Theft, Elder Fraud, Human Trafficking

-Beneficial Ownership Rules

-Customer Identification Programs and Customer Due Diligence

-Handling High-Risk Customers

Who should attend?

Designed for banks and credit union branch employees

Tellers, New Account Representatives, New Member Representatives, Personal Bankers, Branch managers, Branch Operations, Deposit Compliance, BSA, Training