Webinar: Frontline Series: Minor Accounts: Ownership, CIP, Access, Changes & Transactions
April 23, 2025 3:00 pm - 4:30 pm
Minor accounts can lead to major questions.
For example, is a minor responsible for their actions on deposit contracts? How do you answer all the adults’ questions about different account types? This jam-packed webinar will answer those questions and provide the guidance you need to address regulatory compliance for CIP, CDD, joint accounts, UTMAs, tax reporting, education savings accounts, and more.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Know when to obtain ID and comply with CIP and CDD
- Complete tax reporting appropriately
- Understand the styles of ownership
- Distinguish when money can be given to the minor and when it cannot
- Review UTMA, Social Security, and Coverdell Education Savings Accounts
- Describe how to turn money over to minors at appropriate ages
- Properly complete signature cards and comply with all federal laws
WEBINAR DETAILS
Minor accountholders are great, and yet it is sometimes hard to know what can and can’t be done on their accounts. It can be confusing when minors have authority to transact business in a financial institution because in many states a minor is not responsible for their actions on deposit contracts. During this program you will learn how to answer adults’ questions on how to set up accounts for children, grandchildren, college, and more.
This program will review the basic legal ownerships that may be offered to minor accountholders, including the dos and don’ts of account card set up for minors. You’ll learn how to complete CIP and CDD procedures and be challenged to look at old practices, how to handle checks, when to give access, how to transition them into adult accounts, and so much more in this information-packed program. Don’t miss this A to Z on minor accounts.
WHO SHOULD ATTEND?
This informative session is designed for new accounts staff, compliance personnel, tellers, trainers, BSA professionals, and marketing staff.
TAKE-AWAY TOOLKIT
- New accounts handbook
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Speaker: Deboroah L. Crawford, Gettechnical Inc.
Deborah Crawford is the President of Gettechnical Inc., a Florida-based firm specializing in the education of financial institutions across the nation. Her 30+ years of experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor’s and master’s degrees. Debbie specializes in the education of financial institution employees and officers in the areas of deposit account laws, new account documentation, insurance, complex compliance regulations, and IRAs.