Is there a new exception for adoptions for IRAs and the 10% penalty?
Can a bank require employees to have an account and services so that they can help customers with functionality? We do not require them to have their payroll deposited at our institution.
We had a foreign check returned to us from the clearing US bank. The date of deposit was June 11 and we are just getting it back more than 4 months later. Are we able to refuse this?
We have a client who owns several business accounts under a corporate DBA. The accounts are titled "ABC Corporation, DBA DEF Company". He also has the Family Trust listed under each account. We are told that he cannot have business accounts under the trust because once a trust, always trust. Will he then need to close and reopen these under the Corporation?
We have a customer that deposited a check, which we believe to be possibly fraudulent. The check was issued for work in another country and the description doesn't match what the depositor does or the work in the other country. The work is being performed by his girlfriend and we believe the girlfriend is solely on the internet. So there are a number of red flags. How long does the issuing bank have to return the check to us for reimbursement from our customer's account? Does that time frame differ if the check is deemed to be fraudulent? I have heard up to one year. However, we can't hold the funds that long, or is there a stipulation-reason we could use to hold funds for one year? If the funds are gone, are we required to return the funds after 90 days? After one year? We are trying to plan not to get caught having to return $10,000 that we believe to be fraudulent.