Opening Deposit Accounts for LLCs: Documentation and Procedures
One of the most interesting types of businesses is also the most complicated.
Learn how to open, document, change signers, and handle the paperwork on these accounts.
From single member to multiple member LLCs, we’ll cover all the definitions, tax reporting, CIP and due diligence issues for opening a deposit account for an LLC. You’ll receive a state-specific chart and help with understanding the ins and outs of these deposit relationships.
What You Will Learn
- How to open and document the LLC for customer identification purposes
- Who are managers, members, and signers?
- What is an operating agreement – both written and oral?
- Documents at account opening
- Resolutions and Signature Cards
- SSNs, EINs, and when to use what
- Disregarding the single member owner for tax purposes
- Changing members and signers
- Multi-tiered LLCs in which businesses and trusts are members
- LLCs “doing business as”
- Beneficial ownership of LLCs
New Account Representatives, Business Bankers, Personal Bankers, Commercial Loan Assistants, Branch Managers, Training and all Frontline Personnel.
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 27 years of combined teaching and banking experience.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
- Live Webinar which includes 5 Day On-Demand - $265
- Six Month On-Demand – $295
- Live plus Six Month On-Demand – $365
- CD-ROM (Includes Six Month On-Demand) – $325
- Premier (Includes all options) – $395
- Additional Locations – $75
Online: Click here.
Phone: Call Total Training Solutions at (800) 831-0678
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.