Opening Deposit Accounts in Florida: Disclosures, Documentation and Details for Consumer and Business Accounts

Opening even a basic checking account can be an operations involving considerable time, paperwork, and risk!  Every accountholder’s situation is different and there is often uncertainty about account ownership, the required identification, and how to conduct appropriate due diligence. Meeting the regulatory requirements along with making the customer aware of all the products and services your bank offers to meet their needs and striving to provide a positive service experience throughout the process, can be a daunting task.
 
This jam-packed one-day session will dissect all of the state legal issues for ownership and documentation of personal, business, estate and trust accounts.  We will walk through the account opening operation from the starting gate to the finish line and provide you with loads of tools to take back to your bank and incorporate into your process. 

Learning Objectives:

Knowing & Identifying Your Customer – A review of CIP and CDD requirements including documentary and non-documentary identification methods, risk profiles and tax identification numbers.

​Enhanced Due Diligence for High-Risk Customers- A review of additional documentation and monitoring procedures for those customers deemed high-risk by the regulators and your bank, including a discussion on cash-intensive and marijuana-related businesses.

Ownership, Authorities and Documentation for Personal & Business Account Types – A review of consumer and business account ownership types and the account titling, ownership, authorities, CIP verification, and tax reporting associated with each.

Review of Required New Account Disclosures - A thorough review of disclosures required at account opening including, Reg CC, Reg E, Privacy and Reg DD. 

Resident Alien vs. Non-Resident Alien Accounts - A thorough discussion of the identification methods, tax reporting documentation and other requirements to support your enhanced due diligence process for non-resident alien accounts.

Procedures for Dispersing Account Funds After the Owner’s Death – Review documents required to ensure funds are appropriately transferred or dispersed following the death of an account owner. 

Who Should Attend? 
This informative session is designed for New Accounts Personnel, Deposit Operations Personnel, Branch Managers, and Compliance Officers. ​

Schedule:
​9:00 - 12:00 PM: Program
12:00 - 1:00 PM: Lunch Break
1:00 - 4:00 PM: Program

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Registration 

Registration Fee:
FBA Member Video: $395.00/person
Non-Member Video: $790.00/person

Register Online (Members only)

Non-member registration form

Registrar​: ​Olga Williams | Phone: 850-701-3501 | Email: [email protected]

Live Streaming Zoom Video

The Florida Bankers Association is pleased to offer this educational event via live streaming Zoom video. This option provides your bank an opportunity to educate your employees in a very cost effective way. By simply registering for the live streaming Zoom video option, you can view the session at your own computer, without any travel expense.