If we provide monthly periodic statements for our Health Savings Accounts, a NOW account, do the requirements of Reg DD apply?

Yes, just like Regulation DD applies to CD's held within an IRA.

Thanks, Randy...

Sorry Randy....I need a clarification....I may have not have been specific enough in my question...do the requirements of 1030.60 apply to HSA accounts?

I did not think the periodic statement requirements applied to CDs.

1030.2-(q) Periodic statement means a statement setting forth information about an account (other than a time account or passbook savings account) that is provided to a consumer on a regular basis four or more times a year.

I need to know if the periodic statement requirements of Reg DD apply to HSA accounts.

Correct -- Regulation DD does not impose requirements upon statements for CD accounts. It does, however, on statements on NOW accounts, including those for HSAs. Note that the regulation itself does not require that you issue such a statement, but if you do, it has to comply with §1030.6.

Thanks John and Randy...

It is required because it is a NOW account, not because it is an HSA. If the HSA was not in a NOW product, it would not apply.