04/21/2003
When opening a DDA in an individual's name, DBA as a company, can we use the individual's social security number, or are we required to use a business tax ID number?
04/21/2003
When we open an LLC account for customers, can we use the customers social security number instead of a TIN?
04/08/2003
A funny friend who is a mature banking professional (and who prefers to stay off the radar of the 419-scammers) had an irresistible urge to respond to one of the Nigerian scam letters she received
03/10/2003
What can you tell me about a trust account, similar to an IOLTA account, that is used by real estate or property management companies to hold renters' security deposits. The funds in this account cannot be commingled with operating funds and my understanding is that they can be interest bearing. My concerns lie in the account titling and what happens to the interest.
01/27/2003
01/20/2003
What would be the best way to set up an account relationship if a customer wants to open an account for her Class Reunion but not has not applied for an EIN for the account and wants to use her social security number. Should this account be opened with as a personal account since we are using her social or as a business account for an unincorporated organization with no TIN?
08/12/2002
We have a customer changing an account to an irrevocable living trust, using her social security number as a TIN. I don't have anything that says that she is required to have a separate TIN. What are your thoughts?
07/01/2002
We have a noninterest bearing account designed for "civic associations" e.g., girl scout troop #25; north metro soccer league, etc. Most of the time, the individual opening the account for this association wants to use their own social security number as the tax ID on the account as opposed to applying for a TIN in the name of the group. My CEO wants us to allow customers to do this so that it is "easy for the customer". These are "obviously incorrect" tax ID numbers in that the name of the account and the name of the individual do not match. Is this a problem?
03/11/2002
We have a customer who controls 5 different companies, each with its' own EIN. After a weekend, we found night deposit bags for two of them; one with $6861 in cash and the other with $967. During the course of the rest of the day, three different individuals came in with deposits to the other 3 companies, each under $10K. The total cash among all 5 EINs was over $15K, but no business received over $10K in cash, and no one person came in with over $10K in cash. I told the branch manager that I did not think a CTR was necessary. Was I right? If it matters, the 5 companies are all restaurants.
03/04/2002
I saw your article on EIN numbers on your web site today and it raised a question - - What about a list of SSN Indexes. Can you tell me where to find it?