04/21/2003
When opening a DDA in an individual's name, DBA as a company, can we use the individual's social security number, or are we required to use a business tax ID number?
03/17/2003
W9 certifications are signed under penalty of perjury. Is it appropriate to prefill the fields for backup withholding and "I am a U.S. person" with an X to expedite completion of the form, or should those boxes be filled in by the customer signing in his own hand (no keyboard required) the document? I think in most situations requiring a HUMAN SIGNATURE it is expected that the signer should know what they are signing. Then with that assumption, why do so many of them come in incomplete? The reason for the prefill is to keep them from being incomplete. But if the signer didn't read it in the first place when it was blank and left it blank, are we to assume that they read it and agreed with it when they signed it then? Is there something specific in CIP, US PATRIOT ACT, BSA, IRS or the BIBLE that addresses this?
03/10/2003
Can we place a hold on VA benefits when we received a levy?
03/03/2003
We made an error in a deposit to a customers IRA that was a rollover. We owe her $594.00. Can we deposit this to her existing IRA? If not what is my course of action so the customer is not affected.
02/17/2003
We were to have sent in a reexemption on one of our customers in March. We cannot find a copy of the form and we are not able to tell from our records if we sent it or not. 1st How do we find out if we sent the form? 2nd If the form was not sent, do we now have to file CTR's for the entire year?
01/20/2003
Is there a way to verify that CTRs have been received by the Treasury?
12/01/2002
The US Customs Service has implemented Operation Green Quest.
12/01/2002
Customer Information, a.k.a Know Your Customer, has been at the core of what we call dueling regulations.
11/18/2002
Our bank is seriously considering NOT using a TINSSN/EIN on periodic bank statements. It is felt this could help deter ID Theft and help with privacy issues? Could there be other regulatory ramifications if we did in fact not use the TIN on statements?
11/11/2002