11/29/2004
Can an LLC have more than a sole owner or member? When opening a new LLC account, could you use a corporate resolution or should you always use an LLC resolution? Should the resolution read, "Jones Properties, LLC -- John Jones, Sole Member"?
11/15/2004
I have 19 Girl Scout accounts that have deposits in total over $10,000. All accounts have the same tax identification number. Are the Girl Scouts exempt automatically, or do I have to complete a CTR?
11/01/2004
Question: Exactly how should an UTMA account be titled? We've had a lot of questions about this, and it isn't spelled out in our new accounts manual.
10/01/2004
Question: I know you've always taught not to take names off of accounts, but we have a company that uses a joint account for petty cash. It has two individuals as signers.
09/27/2004
09/20/2004
How often does a W8-BEN have to be updated?
05/31/2004
Answer by Mary Beth Guard, BOL Guru
Guru BIOS
05/17/2004
I have been trying to find an answer to this question, but have had no luck. I have tried FinCEN, FDIC, and Bankers Threads but have not gotten an answer that will cite a regulation. This is for Designation of Exempt Person (DEP) forms. Our institution has been exempting a customer that has more than one business and each has their own TIN on the same DEP. They are putting the largest business on the front of the form and the other businesses and TINs on the back of the form under the instructions. I am not saying these businesses cannot be exempt. I just think a separate DEP should be filed for each TIN. Am I correct, or is it okay to put them all on one DEP?
05/05/2004
CTRs: Documenting ?Known? Customers
04/19/2004
How do you verify which individuals have authority to transact for different types of businesses? We currently obtain a TIN and the trade name registration, as well as a certificate of LLC or incorporation if applicable, but none of these documents seem to clearly state who has authority to conduct transactions on behalf of the entity. We have in-house authority resolutions that the customer completes, but how do we authenticate that the person opening the account is entitled to do so?