Is it required for a Business that is a Corporation to have either INC. or Corp. on their account titles?
A borrower has a joint account with two names listed on the account. The names are just stacked on the account. There is not an and/or. Would you consider this to be an and/or account?
A customer wants to open an account for a fundraiser they will be doing for a child. Do they need to obtain a EIN? What is the best way to title the account?
The following question was asked before in 2004. I would like to know if the answer is still the same? Here was the question: If a sole proprietorship is styled Jane Doe dba Jane's Jeans, we would use Jane's SSN for the tax ID. If Jane's Jeans had an EIN, should the account by styled the same? I always understood the first name on the legal title should match the tax ID number.
It there are two authorized signers on a benefit account example: hugs for Hailey benefit; and they want to close the account, does the check need to be payable to both signers?
New Account request - Escrow agreement presented with a Buyer as Limited company organized from the UK and Shareholders (three individuals)that are selling their company to them, have entered into a Stock Purchase agreement and named Escrow agent as our bank. How do we title this account. What TIN do we use? We have to give all three individuals 1099 39; for interest earned during the holding of the account. We have instructions on how and when to disburse the funds. But how should it be titled?
I have a customer who is opening an account for her husband to receive his Social Security disability payments and she is the representative payee. Is there a certain way that should labeled on the signatory card and shouldn't her husband's SSN be used?
When opening a checking account with POD, is it required that the term "POD Account" print on the bank statement or is it sufficient that the signature card is marked and the POD designation with the name of the beneficiary is in the core related to the account? Can the Account just read "John Doe" or does it have to say "John Doe, POD Account"?
Can an Attorney-in-Fact change a Payable on Death beneficiary on an account if the Durable Power of Attorney document does not specifically speak to that? Part Two: If an account currently has a POD beneficiary designation in the account title and we are now retitling the account to Jane Customer by Joe Smith, Attorney-in-Fact, where does the POD designation go in the revised account title?
Who will own the funds? Account titled first line Joe Brown; second line Non-Profit Org. The Non-Profit Org. using the SSN of Joe Brown. There are two signers, Joe plus one other. I have suggested the Non-Profit Org get its own EIN, to clear up any confusion. Will the funds belong to Joe's estate at his death?