Totten Trust
by Barbara Hurst, BOL GuruGuru Bios
Question: If we have a simple Totten Trust account in the name of John Doe In Trust For Jane Doe, and we have an over $10,000 cash deposit, do we file under both names?
Answer: I love it when I get answers like the one I got for you. FinCEN said it "...wouldn't hurt..." to file under both names. There you are.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 8, 10/04
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