Most Popular Compliance Content
Account Styling
12/09/2018
When opening accounts for the City (Police, Fire Department, etc.) what documents are we required to collect? Here is why I ask: “Earlier this week the city of XYZ opened a new savings account. They have been a customer since 1977, therefore we don’t have all the paperwork that is now required. This account was brought in by the Chief of Police and the Warrant Officer saying that it needed to be a new account under the “CIF” of the City of XYZ, but needed to be worded titled “The State of TX vs ….. defendant.” There has been an account like this in the past, the defendant is in jail and it's confiscated funds. My question is, what all documents do we need?”
Check to Individual: Accept for Loan Payment?
12/09/2018
Can a check that is payable to an individual be accepted for a loan payment?
Returned Item & Date Reported On SAR
12/09/2018
My question is in regards to a returned item and the date that should be reported on the SAR. We were recently advised that the suspicious date for the returned item should be the date of the original deposit and not the date it was returned. But isn't the item being returned the suspicious nature of the transaction so shouldn't we use the returned date instead?
IRA Customer With RMD- Federal Tax
12/09/2018
Can someone please tell me whether, for an IRA customer over 70 1/2 who has an RMD, does the federal tax withheld get deducted from the RMD amount or is it an additional % on top of the set RMD amount?
Required Documentation for Honorary Consulate Acct
12/09/2018
We got a request to open an account for an Honorary Consulate in US, WA state. I did look online for WA state list of licenses and could not find any related information. Could you please help me with a required documentation?
