12/04/2016
Can an LLC account earn interest and can a Social Security number be used instead of an EIN? Also, can a limited partnership earn interest?
06/07/2015
With regard to Reg. D, I was always under the impression that a single member LLC could have an interest bearing checking account. Can you add anything to that?
05/25/2015
When is the last day to collect a form W-8BEN without imposing client withholding?
09/23/2013
In a market with rising consumer interest rates and resulting decrease in refinancing, how can retail bankers maintain or even still increase their loan production?
07/08/2013
If we have a deposit promotion which pays the client a $50.00 bonus to open an account, are we required to send them a 1099-INT at the end of the year?
07/01/2013
If the same two owners of a CD want to swap the primary role, do we need a new signature card? Do we need written permission from both?
06/03/2013
If someone has a plenary guardianship should the checks issued for the ward be deposited into a guardianship account and then disbursed or can the guardian cash them?
05/27/2013
We have a customer on whom we are required to backup withhold per IRS notification. If that customer cashes a US government savings bond with us are we required to backup withhold on the interest he receives in that transaction?
05/06/2013
If we have received a notice from the IRS to backup withhold on a customer, are we required to withhold on interest that customer receives through a window transaction such as a savings bond (E or EE) redemption?
04/29/2013
I've been asked to offer options to the Loan Operations Manager for a situation related to escrow. This started with the bank's purchase of a smaller institution a little over a year ago. This smaller institution was apparently not properly calculating escrow requirements. To add to the problem, last year they gave huge refunds to borrowers in error. Now, we have borrowers whose escrow accounts are deficient and they cannot make the new calculated loan payments. What is the best plan of action to get these borrowers back on track?