Our lender had a request for a reverse mortgage. He provided an Adverse Action Notice, but did he have to, since we don’t offer reverse mortgage loans?
Does a foreign business have the same tax structures as the US?
When does the bank have to make ACH direct deposits available for withdrawal?
We are offering members a $100 incentive bonus if they open a checking account with direct deposit which would start within 60 days. We understand all of the disclosure requirements for the $100 payment. The argument is, must we disclose in the ad that the $100 will be reported as interest to the IRS? We of course will be sending the member a 1099-INT and reporting it to the IRS, but are we required to disclose that?
A customer of ours came into the bank and cashed six checks totaling $29K. Some were drawn off of our bank and some were not. When I file the CTR, what account number should I use in Part I, item 22? Should I use the account numbers from each check that was cashed? Should I use the account number of our customer even though none of the checks that were cashed came from her account? Should I leave Item 22 blank?