Many New Rules and Regs at Two-Day Deposit Account Administration Workshop

The IBA’s Two-day Deposit Account Administration Workshop will cover many new developments. Offered in in two locations – Cedar Rapids (October 27 and 28) and Johnston (October 29 and 30), the program is a MUST for operations managers and supervisors, compliance officers, trainers, and auditors. Experienced new account representative will also also benefit.

New Developments:

  • Iowa has adopted the NEW Durable Power of Attorney Act. Its provisions are effective July 1, 2014. The Act answers a lot of questions. It also includes a model form, and Agent Certification. Learn what you should be looking for when reading the new statutory POA form, and how to protect the bank when accepting the new POA. This is big!
  • On July 30, 2014 the Financial Crimes Enforcement Network (FinCEN) issued proposed Customer Due Diligence regulations to be codified as a part of the existing BSA regulations. This proposal creates a duty to gather information on beneficial owners when opening new accounts for legal entities. Learn what the proposal entails, and how it make affect account opening procedures.
  • The CFPB released four publications for various fiduciaries. These can be very helpful to you and your customers. Find out how to get them and use them to help your fiduciary customers understand their duties, and their relationship with the bank.
  • The IRS has made many changes in the two years.  There is a new Form W-8 BEN, a new Form W-9, and Name Control rules for matching the customer’s name to the TIN. Understand how to apply the new forms and name control rules at account opening, and learn how the FREE IRS TIN Matching program can save your bank money and time.

This is only the tip of the iceberg! Bring your forms and disclosures for reference during the workshop. This is the program you’ve been waiting for! Register today.

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