What support documents are sufficient to support a Sole Member LLC to use their social security number?
Can a foreign person without a Social Security Number have an interest bearing account? How would you report the interest earned?
What are the proper procedures to CIP for an attorney-in-fact (AIF) under a power of attorney? My question comes from an instance where we have a CIP grandfathered Amish customer and they would like to add someone to their account that doesn't have a TIN and refuses to get one. They went to an attorney to get around the CIP restriction and made him an AIF so he wouldn't have to go through the normal CIP process. Is an AIF considered a customer under 103.121?
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?
We have a grocery store customer currently exempted from CTRs with a Phase II exemption. They have opened a new location and a second account. Both accounts are listed under the same TIN. Are the transactions conducted in the new account also exempt from CTR filing? Or do we need to wait and then file a new DOEP?
One holding company owned two banks that operated individually with separate taxpayer identification numbers and routing numbers. The banks recently merged, becoming one bank and retaining the larger banks-name, TIN and routing #, however, the smaller bank's routing # is still in existence. Do we need to fill a new DOEP's for the smaller bank's customers under the new banks information?
A new LLC has two members (husband and wife). The husband is also listed in the Articles of Organization as the registered agent. Can the LLC account be opened under the husband's social security number?
Can a grantor on a trust change her social security number to a TIN without closing that account?
I have a PLLC opened with a husband and wife. It is in the wife's social security number. They both want to leave that way. Can they do this?
I have been in banking for awhile and am being told I am making a mountain out of a mole hill. When it comes to DBA accounts, I have one opinion on what purpose/style account should be opened and I am being told by others that I am not correct. There are two differing opinions when we open a DBA account. For example, one opinion is that Mickey Mouse DBA Great Escape Mousetraps should be opened as a personal style account, where at the account maintenance level, the code would indicate consumer for the purpose of household or personal use. The other opinion is one in which it should opened as a business style account, where at the account maintenance level, the code would indicate business for the purpose of business. The reporting tax ID number in both situations would be the customer’s Social Security Number. If I understand correctly, there are different regulations regarding the purpose/style of an account and there are different protections and benefits for each purpose/style. Can you please help as to which purpose/style would be proper? My best interest is doing things the correct way for the both the bank and the customer.