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New Account Procedures—40 Ownership Types

Recorded on February 15, 2024


During this program we will go over 40 ownership types for new accounts. We will cover disclosures, customer identification programs (CIP), customer due diligence (CDD), documentation, and beneficial ownership. We will give an update on beneficial ownership, new rules and where the financial institution will need to make changes when these are finalized. This is an advanced program designed to help you review all compliance aspects of opening new accounts.

Please have a copy of your signature card, resolution, disclosures in front of you during this program.


-Federal Disclosures who gets what

-W-8BEN procedures for nonresident aliens

-CIP approach to documentation

-Beneficial Ownership—Today and tomorrow’s procedures for business accounts

-Consumer Accounts, Fiduciary Accounts and Business Accounts

-What happens when signers change, owners pass away, and people marry and divorce

-What happens if the customer closes and account?

-Power of Attorney procedures

You will receive:

600+ Page New Accounts Handbook with example procedures for all these accounts

Who should attend?

Training, Compliance, BSA Officer, Branch Staff, Deposit Operations, New Account Representatives and loan officers