1-Day Virtual Class | May 4, 2023 | 9:00am – 3:00pm CENTRAL Time

There are many types of business accounts with many different ways to do business at banking today.  It can be challenging to determine who is authorized to open, close and transact business when dealing with so many business entities.  In addition to opening accounts in person for businesses, we now bank businesses online, with debit cards and through remote deposit. Because of these multiple entities and various approaches to opening accounts numerous questions arise. How do we set up these accounts and then change them as the businesses change?  What happens when a partner dies?  What happens when the sole proprietor dies?  Can you keep the same EIN if a sole proprietorship incorporates?  What if the LLC members are other businesses?  How do they sign?  We will look at tax issues when a business is disregarded and reported in a different tax number. And the list of questions goes on.  Understanding designations, rules and authority on all different types of business accounts can assure that you are taking the proper precautions and can assist you in avoiding errors that can be costly to your organization.

 Program Topics

• Upcoming Beneficial Ownership Changes
• Basic documentation on business accounts
• Changing signers on business accounts
• What happens when an owner dies on a business account?
• Can a business account have a Pay on Death designation?
• Can a partner remove another partner?
• How do we give debit cards on business accounts?  Where is the liability?
• How do we run Customer Identification Programs on business accounts?
• Can we have a power of attorney on a business account?
• With the new complicated limited liability company, how can we tell who is authorized to remove a signer when they are all managing members?

• Multi-tiered business accounts with businesses owning businesses what are the CIP requirements
• What is disregarding an entity for tax purposes and how does that affect our account styling?

• Resolutions, signature cards and endorsements
• And much, much more . . .

 Who Should Attend?

This informative session is directed to Customer Service Representatives, Branch Managers, Lenders, Personal Bankers, Training and Branch Administration, Tellers who work in the commercial area of the bank.

Seminar Instructor

Deborah Crawford is the President of Gettechnical Inc., a Florida-based firm, specializing in the education of banks across the nation.  Her 40+ years of banking and teaching experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor’s and master’s degrees.  Deborah’s specialty is in the deposit side of the financial institution where she teaches seminars on regulations, documentation, insurance, and Individual Retirement Accounts.

Registration 

The cost to attend this all-day seminar is $299 for one connection*. Registration fees include instruction, live interaction with the instructor, any handouts and manuals used during the class (digital), and a link to the recordings of the class. (You will have unlimited access to the recording for 90 days.) *You may have as many listeners as you wish for your ONE connection (ONE computer login). If you would like additional logins for additional locations/computers, please contact our office or note names and email addresses in the comments sections of the registration form. A fee of $100 will be billed for each additional login.

Cancellation and More Information

Full registration fees will be refunded if a cancellation is received on or before ten business days prior to the meeting. If the date of cancellation is less than ten days prior to the meeting, a $75 processing fee will be retained. No refunds will be given for cancellations made the day of the program. If you need additional information, please call (888) 773-4839.