Opening Deposit Accounts: Fiduciary Accounts
Account opening takes well-trained personnel whose efficiency requires expertise and clear guidelines. This 3-part series focuses on the best methods for opening and maintaining deposit accounts for all your customer contact personnel. The second session in this series will discuss Fiduciary Accounts and on January 23 wraps up with Business Accounts.
The fiduciary’s responsibilities are translated into legal requirements that fiduciaries must fulfill, always being certain that their actions are well documented and represent the best interests of the person on whose behalf they are acting. Often, a fiduciary is required to open bank accounts and handle funds as a part of that relationship.
This program focuses on those occasions. It addresses:
- Customer identification programs,
- IRS requirements for TIN certification,
- Customer due diligence and enhanced due diligence
- Any applicable consumer protection laws, and
- Review of content and use of free federal publications on fiduciary responsibilities.
Account types discussed include: UTMA accounts, powers of attorney, decedent’s estates, guardianship estates, grantor trusts, irrevocable trusts, representative payees, escrows, and IOLTA accounts.
Personnel who routinely open deposit accounts or supervise, audit or review the process. Content is at the basic or intermediate level. It does not reflect the laws of a particular state.
Laura Wilson, Pegasus Educational Services, LLC
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 hours/session CRCM
Member price: $265.00 | Non member price $530.00
Member price: $280.00 | Non member price $560.00
Online: Visit the CBA Webinar Catalog
Mail: Click here and mail completed form with check payable to ConferenceEdge to: (Mail at least 10 days prior to event)
1516 Xavier St., Ste 500, Denver, CO 80204
Phone: Call ConferenceEdge at (877) 988-7526 (credit card payments only)
- Preferred Payment Method: Online
- Please register online or by phone when paying with a credit card
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Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.