Can a single owner of a checking or savings account have a minor as the beneficiary of a Payable on Death designation?
In account ownership with ITF, can the trustee change the beneficiary or change account type?
We have an IRA question. What happens when an IRA owner passes away and there is no designated beneficiary on any of the forms. Is there a default provision? What if there is no specific language in the IRA agreement as to who it defaults to?
Under the USA PATRIOT Act regulations and upcoming CIP, do we need to have photocopies of the driver's license and/or social security numbers for beneficiaries on a Totten Trust? In most cases, we never see the beneficiaries, as they are not signers on the account. Also, do we have to check them on OFAC?
If a married customer establishes an IRA and designates someone other than their spouse as the beneficiary, do we need to require the spouse's signature on the designation of beneficiary form?
A benficiary inherited (mother to daughter)several IRA CDs and is currently receiving the minimum distribution which is paid from the lowest interest CD. Two of the CDs are maturing in April, 2003 and the beneficiary wants to transfer them to another bank where she has a substantial IRA comprised of CDs. Are there IRS or ABA rules/regs covering this situation? Can the daughter/beneficiary transfer the CDs without having to incur a tax liability above the minimum distribution she elected?
For Reg O purposes, do insider loans include loans made to relatives (especially spouses) under their own signature and taxpayer ID?
Can we place a hold on VA benefits when we received a levy?
Is there a difference between "beneficiary" and P.O.D.? I was told by my compliance officer that there is a difference.
I have an IRA account holder who died last week. It is after his RMD. His beneficiaries are his girlfriend (dob 2/28/41), his son (dob 11/25/50) and his daughter (dob 3/15/54). Please tell me the beneficiary options under the new IRA beneficiary rules. I have myself thoroughly confused as I read through the new rules.