We received a reclamation for Social Security (SS) from a person who passed away 12/8/16. His SS went in on 1/3/17. His son came in and closed account on 1/4/17 and that's when we learned of his father's death. We received a reclamation in March of 2017 and we informed SS at that time of when we learned of the death, that the account was closed and we provided the name and address of the son who received all the funds. On 3/3/20 SS took the amount from us. Was it our responsibility to get the money back in 2017? Is it our responsibility to get the money back now? Where can I go to learn more about reclamations?
John and Cindy both have individual accounts and just created a family trust which has no tax number. Can they use their separate SSANs for the account without adding the other person as joint owner?
The customer, who was born and raised just down the street from our bank, refuses to provide his Social Security number. What should we do?
If a customer wants to open an account as a single member (or sole member) of an LLC, but the single member listed on the Formation of LLC paperwork is the customer's single person revocable trust, can the customer still use their SSN to open the LLC account or should they get an EIN for the LLC since the single member is a trust?
Can a bank apply funds from a Social Security direct deposit to a charged-off account?
We have customers from Mexico that have been lawfully admitted to the US on a temporary basis who have DHS authorization to work. The Social Security Administration has issued them a SS card that states;Valid for work only with DHS authorization. Do they sign a w-9 or W-8 for their loan?
Can an LLC using a social security number have more than one signer?
I read the comments and the instructions regarding the expiration of W8BEN. Once the W8BEN expires, does the Bank just require another completed W8BEN or do we need to take other action?
I am setting up an account for a "Living Trust". Can I style it: "ABC Living Trust"(using grantor's SS# John Doe trustee or do I have to use grantor's name ss# then ABC Living Trust then John Doe Trustee?
Does the bank require Letters Testamentary dated within 60 days to cash in a CD belonging to the deceased? Is there a central database containing CD information? Can we search accounts by his social security #?