Wrapping my head around NGO and Charities and the Beneficial Owners. The Non for profit Business. Like an Electrical Company (which is listed on the guidestar site) and on the NAICS as a utility. Would need to fill out both forms? But, with the electrical company having so many members that the 25% would not apply?
What are some common issues with a paper-only approach to CIP recordkeeping?
What are the pros/cons of using ticklers vs. spreadsheets for tracking tax returns?
Is it possible to clear CIP exceptions simply by scanning in the document?
What manual processes can be reduced or eliminated by moving away from paper?
My customer wants a backup beneficiary on a pay on death account. Can we do this?
If an existing customer has a legal name change, is it necessary to re-work contracts (signature cards / loans) for any purpose (FDIC requirements, Tax ID reporting, etc.)?
We are trying to clean up some of our customer information files. We have multiple variations of name files on our core software. Does it matter if the name file on our system is different from names used for loan processing or does the name on the core have to correspond with deeds and loan correspondence to the customer?
What identification should be obtained when cashing a check for a nonresident alien? A resident alien?
What is the ruling when a foreign customer deposits over $10,000 cash using an ATM at our financial institution? The same card number was used and over $10,000 was deposited, using two separate deposit envelopes. There is no customer information available to complete the CTR.