Deposit Account Series: Compliance at Account Opening
Date(s) - 01/14/2020
2:00 pm - 3:30 pm
Compliance is king when opening new deposit accounts. Do you know the essential elements, accountholder disclosures, and federal requirements?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Comply with CIP and CDD
- Assign accountholders to W-9 or W-8BEN for IRS purposes
- Understand and correctly provide all federal disclosures – Regulations CC, E, and P and TISA
- Comprehend the legal requirements under Reg D for checking, savings, and time deposits
- Correctly conduct the new account interview for federal compliance
This program will focus on the federal requirements to open a new deposit account. It will address how CIP and CDD under the Bank Secrecy Act have affected the identification and questionnaire process and how to place a Regulation CC hold on a new account. You will learn what each required disclosure means to your institution and accountholders. In addition, this program will explain overdraft requirements, W-9 and W-8BEN new account requirements for nonresident aliens, and many other federal issues. Attend this jam-packed session to learn the ins and outs of opening deposit accounts compliantly.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative program will benefit new account representatives, personal bankers, financial service representatives, branch managers, deposit compliance officers, deposit operations staff, and training personnel.