Webinar: Opening Business Accounts: Entities, Setup, Authority & More
May 23, 2024 3:00 pm - 4:30 pm
Having a robust business account portfolio can help drive success at your financial institution.
This webinar will cover opening sole proprietorships, partnerships, limited liability companies, corporations, and associations. You’ll get the downlow on access, authority, documentation, IRS details, red flags, compliance regulations, and more. Don’t miss the chance to get all the business account details all in one place!
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Use the internet to determine whether a business is properly registered
- Define who needs a separate tax ID number for their business or organization account
- Explain the difference between owners and authorized signers
- Determine who has authority to change signers on an account
- Distinguish between various business ownership types and the respective paperwork
WEBINAR DETAILS
Offering business accounts is a great way to grow assets and serve the community. Although they are a little more cumbersome to open than consumer accounts, it’s usually well worth the effort.
This webinar will systematically go through establishing accounts for sole proprietorships, partnerships, limited liability companies, corporations, and associations. It will include the documentation associated with each type of entity, the beneficial ownership and due diligence requirements, and IRS taxpayer identification number particulars.
From there it will cover changes to authorized signers, changes in the form of a business (e.g., sole proprietorship to partnership), and related regulatory items. Whether you’re new to business accounts or have handled them before, this webinar will have something for everyone.
WHO SHOULD ATTEND?
This informative session is designed for staff responsible for opening and maintaining business or entity accounts, including branch managers, auditors, compliance staff, new accounts personnel, business development representatives, and relationship managers responsible for recruiting new business and organizational accounts or maintaining those relationships.
TAKE-AWAY TOOLKIT
- Business documentation checklists
- New business account questionnaire for CDD
- List of business account red flags for fraud and money laundering
- Links for internet resources
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
Speaker: Mary-Lou Heighes, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 30 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.