Is it necessary or recommended to put the title "beneficial owner/signer" as the person's title on the signature card agreement? We have the option to do that instead of just having something like Company Officer or President, etc. Are other banks changing this?

The only required title on the form as provided in Appendix A is the title of the person opening the account.

Is the beneficial owners supposed to be an authorized signer? Beneficial owners should not be signing your signature card unless they are.

The names of the individuals identified in the ownership category on the CBO may not be the same as the individuals that sign your signature card.

Assuming that a BO is supposed to be an authorized signer, then you should ask them their title and use that for your signature block on the signature card. My point is that an individual can be a beneficial owner and also have a title with the LEC.

Whoever designed your signature card is profoundly confused... Tinker Bell is either an authorized signer or she is not. Whether she is also a beneficial owner is completely, totally irrelevant to the purpose of the document.

Yes, the beneficial owner is also an authorized signer. You wouldn't have a beneficial owner "only" on the signature card, however, you enter the BO information into the new account docs so it will print on the BO certification form and upload into the core system. The system allows you to list their title as "Beneficial Owner/Signer" instead of their actual title. My opinion is that their actual title should still be on the card an it sounds like others agree. Thanks.

Why would anyone change their signature cards and signature requirements from what you have done for the last 50 years because of this rule??

Stupidity I guess.

Ken G. = "Whoever designed your signature card is profoundly confused... ". Truly did make me LOL :-) . The authority to sign for a legal entity is still given & documented by a Corp. Resolution for example. And they are signing for the Corp as a Corp. Officer (most likely). So, as was said, this new rule is a separate issue / form.