1-Day Virtual Class | August 31, 2023 | 9:00am – 3:00pm CENTRAL Time

Beneficial Ownership Rules—National Database will be established!

The Alabama Deposit Accounts seminar will look at all the state legal issues on ownership and documentation of the accounts for personal, business, estate and trust accounts. We will look at your current procedures to open and document accounts to make sure your procedures are protecting your financial institution, including documentary, nondocumentary and risk-based verification.  You will learn answers to customer questions from “How can I open an account for my minor child?” to “How do I set up my accounts in a living trust?” Each registrant will receive a digital copy of the Alabama Deposit Accounts Handbook plus links to recording of each session.

Program Topics

• Customer Identification Programs, IRS Reporting and Beneficial Ownership
• Single party, multiple party, agents and POAs
• Special Accounts: living trusts, estates, UTMA, social security representative payees
• Sole Proprietorships
• Partnerships & Corporations
• Limited liability companies
• Nonprofit organizations
• IOLTA
• Agency, escrow & public funds

Who Should Attend

This program is designed for customer service representatives, front line staff, compliance officers and support personnel, new account representatives, tellers, sales representatives, personal bankers, cashiers, branch managers, branch administrators, training staff and any other staff who has customer contact.