Skip to content
 

Identifying beneficiary’s in the bank’s records

Answered by: 
John Burnett

Question: 
Must beneficiaries of informal revocable trust deposits (POD accounts, for example) still be identified in the bank’s records?
Answer: 

Yes. Consistent with the current revocable trust rules, the final rule continues to require the beneficiaries of an informal revocable trust to be specifically named in the deposit account records of the IDI.

--------------------------

Learn more about John Burnett’s FDIC Trusts Coverage Changes
 webinar.

First published on 07/24/2022

Filed under: 
Compliance
Filed under compliance as: 
Compliance/Compliance Management
Branches

Report a problem with this page

Search Topics