I have never seen this before and I am hoping someone can assist.

We have a prospect customer where one of the ultimate Beneficial Owner is a revocable trust where a Bank is the trustee and the beneficiary is the grantor. Under the Beneficial Ownership rule the trust not the beneficiary is Beneficial Owner; however; in the case of a revocable trust, the grantor/ beneficiary can change the Trustee at will, so does the normal Beneficial Ownership rule still apply.

Thank you,

Paul

I received a handy reference chart from our auditor in March. If I can figure out how to attach, or someone could tell me, I would be more than happy to share.

Amy, we applaud the sentiment and while we gladly accept tools like this and will post them in the BOL Banker Tools section (contact me, andyz@bankersonline.com) they must be your own work. To do otherwise facilitates both yourself and BOL in violating copyright laws. As compliance professionals, this would not be good. Many items are given freely, but may require certain ad text which is considered payment to the author, or it may be that the item is intended to be sold only so the author is compensated.

Understood. I didn't think about that. This document does not contain any copyright or identifying detail.