Latest Operations - New Accounts Topics

Who can be a UTMA custodian?

01/26/2020

Can a grandparent be a custodian on a UTMA account, and is there a regulation listing who can be an authorized signer on such accounts?

SARs and Hemp—What’s the story?

01/19/2020

Do we file Suspicious Activity Reports on hemp and hemp CBD Oil?

ACH: More than just Nacha’s Rules

01/19/2020

Aren’t all rules for ACH transactions covered in the Nacha Operating Rules and Guidelines?

Alternatives to UTMA accounts

01/19/2020

Are there any alternatives to UTMA accounts when a minor is involved?

Hemp is in! What are the banking risks?

01/12/2020

Can we bank hemp growers? Is it marijuana?

When the minor ‘comes of age’

01/12/2020

When the minor beneficiary of a UTMA account becomes an adult, can we pay the balance of the account to him or her?

Bye Bye stretch IRA?

01/12/2020

Do all nonspouse beneficiaries have to take out distributions in 10 years?

IRA Plan Amendment

01/12/2020

Will our IRA plans require an amendment?

Inappropriate UTMA account use

01/05/2020

A UTMA account custodian regularly deposits her paycheck into the UTMA account and later withdraws funds from the account to purchase personal money orders. Some of the money orders have been payable to utilities and credit card issuers. What should we do about this?

IRA Changes Effective for tax years following 2019

01/05/2020

What about the 2019 tax season? Can a 72-year old make a contribution to a Traditional IRA.