Most Popular Operations Content
Over the Counter Check & Deposit Record Retention
10/08/2007
How long are we required to keep checks and deposits presented over the counter? We are sending and receiving images electronically.
CD Interest Reporting
10/08/2007
Does the interest earned on a CD need to be reported to the TIN on file at the time of the interest posting or can it be redirected to a new TIN simply by changing the banks records?
Deposited Spouse’s Estate Check into His Account
10/08/2007
We have a customer who has an insurance check made payable to the estate of his spouse. He was not required to open an estate account as all assets were jointly held and he would like to deposit this check into his personal checking account. Is this an acceptable transaction?
Signer on Individual Account Only?
10/08/2007
I was told that you can only allow an authorized signer on an individual account. Is this true, if so why?
Adding Signers to Trust Accounts
10/01/2007
The grantor and trustee of a living trust are the same individual. This person is experiencing temporary medical problems. A daughter and first in line as successor trustee has requested to be added to the DDA account as an authorized signer. Can a living trust have authorized signers on the account? What documentation should be required from the trustee to add an individual to the account as an authorized signer?