Event Calendar

Tuesday, September 24, 2024

New Accounts Documentation and Compliance

Start Date: 9/24/2024 9:00 AM EDT
End Date: 9/24/2024 5:00 PM EDT

Venue Name: Four Points by Sheraton

600 Kanawha Blvd E
Charleston, WV  United States  25301

Organization Name: WVBankers

Amanda Cunningham
Email: acunningham@wvbankers.org
Phone: (304) 343-8838

Non-Member Price: $650
Member Price: $350
Discounted Member Price: $315 per person for 3+ registrants
(Savings of $35/per person)

Timing of your registration is critical. Seminars may be cancelled if there are not sufficient registrations or may fill up; therefore, it is recommended that you register at least 10 days in advance.

New Accounts: Documentation & Compliance Seminar
Managing risk is the #1 priority for all financial institutions, starting at the new account desk. If a criminal cannot open a bank account, they cannot negotiate a stolen check, embezzle from their employer, or steal from your organization and community. Well-trained new account personnel and universal bankers who recognize and stop attempted fraudulent activity are the first lines of defense in protecting a financial institution from fraudsters. Unfortunately, new account personnel are often trained "on the job," which results in an environment of potential vulnerability and unnecessary losses.
Trust and business accounts continue to grow in popularity and complexity - LLCs owned by Revocable Trusts and businesses owned by other businesses… the need for ongoing compliance training is paramount to maintain diligence and update processes and procedures.
This full-day program is one of the country's most comprehensive seminars on opening deposit accounts. The session answers many of the complicated questions customers and employees ask. The 200+ page detailed manual, included in the registration and customized to your state law, has become an invaluable resource for banks across the state. These workshops are highly interactive. Come prepared to get your questions answered!
You are encouraged to bring a copy of your Bank’s signature card, account agreements, terms and conditions, and resolutions.
What you will learn:
  • Six Essential Requirements for Opening Any New Account
  • Understanding Signature Card and Account Agreement Contracts
  • TIN Compliance – W-8 and W-9
  • New W-8 Foreign Tax ID Number (FTIN) Requirements for Foreign Account Holders           
  • Learn how a bank lost $100,000 by succumbing to the “good customer syndrome”
  • Sole Proprietorships | Sole Proprietorship Accounts for Married Couples
  • Why are there so many different types of partnerships, and what is the difference?
  • General Partnerships | Limited Partnerships | Limited Liability Partnerships
  • Limited Liability Company - Single Member | Multi-Member | Series LLC | LLC Owned by an Entity or Trust
  • Corporations - S Corps | Professional and Non-Profit Corporations | 501(c)(3) Tax-Exempt Non-Profits
  • Escrow Intermediary Accounts | Non-Profit Social Clubs and Associations |Political Organizations
  • Public Funds and Governmental Units | Interest on Lawyer Trust Accounts (IOLTA)
  • FinCEN – Beneficial Owner Due Diligence Rules
  • Documenting Foreign (out-of-state) Businesses
  • Documentation requirements and FINCEN certification of complex, layered business structures
  • Resolutions – purpose and proper completion
  • Access to and impact on a business account when a business signer or owner dies.
  • Consumer Accounts: Individual | Joint with Rights of Survivorship | Tenants-In-Common Without Rights of Survivorship
  • When does a personal representative have access to information upon the death of an account owner?
  • Adding Authorized Signers or Agents to Personal Accounts
  • Power of Attorney – Out-of-House Form, Statutory POA Requirements
  • Opening accounts when the owner of the account is not present
  • Trust Account Overview – Why Set Up a Trust?
  • Why are Living Trusts so popular? Why avoid probate?
  • What is the difference between a Grantor and a Trustee?
  • Understanding the Authority of the Parties to a Trust
  • Key Questions to Ask to Determine Formal Trust Status
  • Six Key Pieces of Information Needed to Open Any Trust Account
  • Does Your Bank Need/Want the Entire Trust Agreement?
  • Opening Formal Revocable & Formal Irrevocable Trusts
  • What To Do If An LLC’s Sole Member Is A Revocable Trust? What’s The Benefit?
  • New FDIC Rules For Trusts Effective April 1, 2024
  • Payable on Death Accounts (POD) – Account Titling, Beneficiary Payout Options
  • In Trust for Accounts (ITF) – Totten Trusts
  • TIN Compliance for Trust Accounts
  • Account Ownership Options for a Minor - individual? Joint?
  • Uniform Transfer to Minor's Account (UTMA)
  • Opening an Estate Account/Small Estate Rules
  • Guardianship/Conservatorship Accounts
  • Social Security Representative Payee and VA Federal Fiduciary
  • Account Documentation and Compliance Reference Chart
Who should attend?
New account representatives, CSRs, new account supervisors, and officers whose responsibilities include opening or managing new accounts. Excellent for supervisors or officers who have recently assumed the responsibility of the new account area but perhaps have never worked in new accounts. Internal Auditors, Quality Control, Trainers, Branch Managers, and Compliance Officers will find the information exceptionally beneficial.  
Presented By:

 Matthew (Matt) Dickinson
 Training Resources Consulting, LLC
 Managing Member

Matt Dickinson, an 18+ year banker and leading retirement account consulting and education provider, acquired Training Resources Consulting, LLC, a well-known and highly respected name in the financial industry recognized as one of the country's foremost experts in New Accounts Documentation and Compliance education. After five decades in the financial industry, Suzie Jones retired effective January 1, 2024.

Matt will continue to use the new account training program and materials Suzie developed, known for its customization to state law and one of the industry's most outstanding and comprehensive resources. Matt is known for his approachability, sense of humor, and passion for providing knowledge to bankers so they can serve the Bank’s customers confidently while managing the risk. He partners nationally to provide new account training for 16 State Bank Associations.

Matt enjoys family time with his wife and four daughters, cooking, and has completed three full Ironman triathlons; with the dedication and patience it takes to complete this task, he wants his seminar participants to know they will receive the same patience and dedication.

Hotel Information: If you require an overnight room, you are responsible for making your own reservation. Please contact The Four Points by Sheraton, (304) 344-4092. Room temperatures vary, please bring a light jacket or sweater for comfort. Business Casual dress is appropriate.

Cancellation Policies:
  • Full refund if cancelled 14 days or more ahead of seminar.
  • $75 cancellation fee if cancelled within 6-13 days ahead of seminar.
  • No refund if cancelled on or after 7 days ahead of seminar or for no-shows.
  • Substitutions are welcome.