Iowa Bankers Insurance & Services, Inc. Iowa Bankers Mortgage Corporation
Iowa Bankers Association
8800 NW 62nd Avenue
Johnston, IA 50131
Toll-Free: 800-532-1423
Local: 515-286-4300
Fax: 515-280-4140

Event Detail

Event Description

Opening business accounts can create angst! Sole Proprietorships owned by a married couple, LLCs, LLPs, General Partnerships, Limited Partnerships, Corporations, Escrow Accounts, and Political Organizations! Why are there so many different types of business entities? What is the securest way to determine who has the authority to transact on behalf of a business entity – especially when owed by another entity? Verifying if a business entity is legitimate and who has the authority to transact business on behalf of that entity can be challenging. When can a business use the owner's SSN vs. an EIN? When does a bank need a partnership agreement, bylaws, or operating agreement? FinCen requirements will be addressed. In this two hour comprehensive webinar, participants gain confidence and a clear understanding of the regulatory, compliance, documentation, and proper TIN requirements for opening business account. This session is not state law specific.

It is highly recommended that attendees have a copy of the financial institution's account agreement, signature card, and resolutions to reference during the session. To customize the course to state law, the FI may want to access the Secretary of State’s website to review documentation requirements on forming business structures in your state.

Covered Topics

  • Business Account Documentation
  • Resolutions – Purpose and Proper Completion
  • Learn the Harsh Reality of How Our Bank Lost $100,000 By Not Executing a Resolution Properly
  • Business Taxation Options and Why We Have To Care
  • Sole Proprietorships
  • General, Limited, Limited Liability, and Limited Liability Limited Partnerships?
  • Why Are There So Many Different Types of Partnerships Available?
  • Limited Liability Company and Series LLC 
  • Limited Liability Company – Why Has It Become The Most Popular Business Structure?
  • Determining LLC Business and Tax Classification
  • Profit and Non-Profit Corporations
  • 501(c)(3) Non-Profit Corporations
  • Understanding Sub-Chapter S Corporations (S-Corps)
  • Non-Profit Associations, Social Clubs, and Charitable Organizations
  • Adding and Removing an Owner or Non-Owner as a Signer
  • Access at the Death of a Business Account Signer/Owner
  • FinCen - Beneficial Ownership Due Diligence Requirements
  • Documenting Complicated Business Structures
  • TIN Compliance "Cheat Sheet" Included In Session

Who Should Attend?

Customer contact personnel, supervisors, and officers whose responsibilities include opening or managing new accounts. Personal Bankers, BSA Officers, Deposit Operations, Branch Administration, CIP Managers, Training and Business Development Officers, Internal Auditors and Compliance Officers will find the information beneficial. Lending assistants and officers will find the information informative as well as at least 85% of this information also impacts the lending area.

Instructions

Live Plus Five - $265
Register for the live event and get five days access to the OnDemand Playback. You'll have opportunity to ask questions during the presentation and be free to review the content for the next five business days. Registration also includes links to presenter materials, handouts, and pdfs.

OnDemand Recording Only - $295
Includes a weblink for unlimited viewing for 6-months after the date of the webinar as well as a link to handouts. Does not include live session.

CD-ROM and Hardcopy Handouts - $345

CD-ROM plus Hardcopy Handouts. Does not include live session.

Live Plus Six - $365
Attend live; includes six months access to OnDemand playback. Combine the advantages of live attendance with an unlimited number of replays for the next six months.

Premier Package - $395
Includes all three options above. Live session, OnDemand Weblink, and CD-ROM plus Hardcopy Handouts.

Additional Locations
Want your branches to participate? Facilities within your organization will be able to participate without the travel costs of coming to one location.

Webinar (12/10/20 10:00AM - 12:00PM)


Online Registration

promo 2

Iowa Bankers Insurance & Services (IBIS) offers Iowa banks a full line of insurance products.

learn more
promo 3

Iowa Bankers Mortgage Corp. (IBMC) offers the products & experience Iowa banks need in the secondary mortgage market.

learn more