05/24/2010
If an employer brings his employees to the bank, and he endorses the checks after they do, in order to cash them, and we do not have their ID, are we required to get their ID before cashing these for the employer?
05/24/2010
When someone who died had a revocable trust, do we need to move those accounts to an estate account with a new tax ID number?
04/12/2010
I have a customer who has a safe deposit box. He put his son's name on the box, but son has not signed anything. He does not want the son to open the box unless he is deceased. If the owner is deceased, can the joint owner open the box even if he has not signed the agreement? Can we refuse the joint owner the right to open the box if he has the key, with proper ID letting us know he is the joint owner?
03/01/2010
Is there a special ruling or documentation required for accounts held in Nursing Home facilities that claim to be Resident Trust accounts? The example I have is an LLC DBA Nursing Home that wants to title the account with Resident Trust and deposit and withdraw for the benefit of the resident. They also want to earn interest on these funds. It has always been my understanding that the eligibility for NOW interest is based on the EIN being used for reporting.
03/01/2010
What is the proper way to title an IOLTA account? What CIP information is needed?
02/01/2010
We have a customer from Argentina who visits his daughter here two or three times a year. He stays for about a month when he comes. He wants to open an interest-bearing checking account. What type of tax ID do we need?
01/04/2010
We are struggling with how to get customers to convert to e-statements and E-SIGN in general. We were considering converting all account to this, but the law doesn't really allow it. How are banks getting their customers to convert?
01/04/2010
The bank has received a levy for a taxpayer. The name on the levy is styled as: John Doe DBA Doe's Auto Sales. The tax id number on the levy is an EIN, not John's SSN. We do not have any accounts for the business, but we do for the owner, in his social security number. Does the levy on the business extend to his personal account since it is a DBA?
11/09/2009
When you are opening a Miller Trust account or qualified income trust, whose social security number do you use to open it, the beneficiary's or the trustee's? Should the trust have its own TAX ID number?
10/26/2009
We have an attorney who wants to open an escrow account; however, the funds are from an estate that is being contested. He wants to open the account with the deceased's SSN. Should he not have to get a tax ID number?