Can we send annual statement to low activity accounts?

205.9(b) of Reg. E will require a statement quarterly or more often if the account has the ability to incur an EFT. If your state laws allow, after a period of inactivity you may deem the account inactive or dormant and preclude any EFTs to or from it without first reactivating the account. Your state laws will have a lot to do with this. It may be under escheatment procedures.

First published on BankersOnline.com 5/07/01