When opening an LLC deposit accounts, does the proof of TIN need to have the current sole member in the address?
Is there anywhere to locate Successor In Interest confirmation letter templates or examples?
What are the drawbacks of relying on new account boarding checklists?
Reg Q permits banks to pay interest on business accounts, but if we do and have corporations in this account, are we violating Regulation D?
If you see large dollar transfers from a person's business account (an LLC) to a person's personal account, and then you see large AMEX payments on both accounts, would you consider that co-mingling funds?
Can a corporation sweep from a personal account? We say no but are checking what you think?
Should the owner of a sole proprietor business account cash checks made payable to him personally using the business account?
If only 1 person is 100% of the corporation can they name a POD on the checking account?
We have a question on garnishment/levies. If we receive one do we need to verify they do not have other accounts with the bank or does it go strictly off the account number in question? We have a trust department, wealth management area, etc.
My bank is getting ready to convert to a new online banking program. During this process, I have found that we have the option to allow some features as well as turn off others.
Should we allow business accounts to be viewed under the individual’s personal login? For example, Jane Doe has personal accounts at CNB. She also owns “Jane's Closet, LLC” and has her business accounts at CNB too. She has 100% ownership of the LLC. Would you allow Jane to see Jane's Closet’s account under her personal log in? If not, what are the reasons why you would not allow this?