Mar 12, 2024
There are many types of business accounts with many different ways to do business today. It can be challenging to determine who is authorized to open, close, and transact business when dealing with so many business entities. In addition to opening accounts in person for businesses, we now have businesses banking online, use of debit cards, and remote deposit. Because of these multiple entities and various approaches to opening accounts, numerous questions arise. How do we set up these accounts and then change them as the businesses change? What happens when a partner dies? What happens when the sole proprietor dies? Can you keep the same EIN if a sole proprietorship incorporates? What if the LLC members are other businesses? How do they sign? We will look at tax issues when a business is disregarded and reported in a different tax number. And the list of questions goes on.
Tuesday, March 12th, 2024
11:00 am - 1:00 pm EST
What You'll Learn
Update on Beneficial Ownership
Basic documentation on business accounts
What happens when an owner dies
Partner removing another partner
Debit cards and their liability
Customer Identification Programs
Power of Attorney
Multi-tiered business accounts
Disregard of an entity for tax purposes
Resolutions, signature cards and endorsements
This informative session is directed to Customer Service Representatives, Branch Managers, Lenders, Personal Bankers, Training and Branch Administration, and Tellers who work in the commercial area of the bank.
Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.
Available Upgrades
AyZha Hazelwood, Education Meeting Coordinator
Ahazelwood@indiana.bank
317-387-9380