This two-hour webinar examines not only the documentation requirements on business entities available in most states but provides clarity on how to identify who has authority to open and transact on behalf of the entity.
Opening business accounts can create angst! Sole Proprietorship owned by a married couple, DBAs, LLCs, LLPs, LLLPs, General Partnerships, Limited Partnerships, Corporations, 1031 Exchange Accounts, and Political Organizations! Why are there so many different types of business entities? What is the securest way to determine who can transact on a business account – especially when owed by another entity? Verifying if a business is legitimate and who has the authority to transact business on behalf of an entity can be challenging. When can a business use the owner’s SSN vs. an EIN? When is a partnership agreement, bylaws, or operating agreement needed? Beneficial Ownership requirements are discussed as well as documenting complicated business structures. In this session, Part II of a three-part series, participants will gain confidence and a clear understanding of the regulatory, compliance, documentation, and proper TIN requirements for opening a business account. This session is not state law specific.
Suzie Jones relates to her audience. For decades, Suzie opened new accounts, managed new account teams, and provided hands-on input to the AML and BSA Committees within the bank. With over 45 years of... read more.