Do we have to close NRA interest-bearing accounts if we do not have FTIN?
If my bank qualifies for, and opts into, the Community Bank Leverage Ratio (CBLR) Framework for our March 31, 2020, Call Report, can we opt OUT of the Framework at a later date?
Should we obtain new W-8BEN on every nonresident alien customer?
During account setup, we would like for the CSR to setup the mobile app information on the core system. The customer will be able to use the app without having to go into mobile banking and completing a few steps. Should the customer sign any type of disclosure allowing us to do this? Is there anywhere I can find this information in a regulation?
Are manual processes the best practice for financial institutions?