01/28/2024
When a customer has joint account and only one person on the account wants to add a beneficiary to the account, can this be done or must each accountholder agree?
04/23/2023
Are there any specific requirements that we verify that a beneficiary is a natural person, charitable organization, or other non-profit entity for purposes of complying with 12 CFR 745.4(c)&(d) - beneficiary of a trust?
03/05/2023
For a Certificate of Deposit account, can the beneficiary on the account be titled as "Assigns'" in lieu of a specific named beneficiary?
02/19/2023
This pertains to Roth IRAs: assume the owner is deceased and the beneficiaries are child 1 and child 2. They are wanting to close the IRA and would like check made payable to a Trust in the IRA owners name, is this allowable?
01/24/2021
In the state of Oklahoma, is spousal consent required for the designation of a non-spouse beneficiary on an IRA?
12/22/2019
Are we out of compliance when an IRA account holder dies and we go ahead and internally move the IRA funds into Beneficiary IRA accounts for the
beneficiaries before they come in to make their Beneficiary Elections? Are we obligated to continue interest accrual on those funds or should the
interest accrual stop at the death of the IRA account holder?
09/29/2019
A ninety-seven year old widowed customer was brought in by one of his sons to change the register on his account. Our customer's wife had passed and he
removed her and added the son as beneficiary to his now sole ownership account. Six months later the same son was granted Conservatorship over his
father and changed the register to "Estate of..."
Should we leave the beneficiary on an Estate of Conservatorship account?
07/28/2019
Can a DBA account have a POD?
05/19/2019
Can a POA add beneficiaries on an account?
04/28/2019
Can a business trust list beneficiaries on the trust account? For example, another bank would like to set up a trust account with our bank and list their customers as the beneficiaries.