Can the successor trustee use their name and Social Security number for titling with the trust name listed secondary? I have a copy of the appointment of successor trustee for my customer. She receives checks payable to her as successor trustee for the trust. Do I need the customer to obtain a TIN for the trust?
If a primary account holder on an interest bearing account is a US person with an SSN, and the secondary account holder is foreign, is the secondary account holder required to provide a W8-BEN? If they are required to but do not provide it, what action should be taken on the account? The 1099-INT is provided to the primary account holder.
In regards to PODs. Customer dies and has numerous CD's with the same POD. The POD isn't ready to close the CD's. Do the CD's continue to collect interest? When they mature do they just roll over until the POD collects? Usually the customer is barely at the funeral home before POD's are making their claims. Different situation.
A professional sports player who is a non-resident alien would like to open a joint checking account. The other owner will be his manager. Do we have to use the manager's TIN as the primary TIN on this account even though he will not be benefiting from the interest payments? He is on the account only for convenience sake when the other individual is traveling.
When a trustee dies on a trust and the family wants to keep the trust "as is" does it require a new EIN #?
What legal documents are needed for opening a uniform gift to minor accounts?
A Corporation, LLC is set up as Money Market Account. They exceed the transaction limitations continually and the bank is changing their account to a Now Account. Can any business, corporation, LLC have a Now Account?
Do signature cards need to have the full legal name in the title? ex. customers full legal name is Jane Sue Doe and we use Jane Doe on the signature card.
The primary member is deceased on a joint deposit account. How long can the joint owner continue to use the deposit account including checking? The joint members are husband and wife.
We had a non-member cash a check over $10,000. The teller failed to get the individuals SSN. We called this member and he is not willing to give us the information. How do we proceed?