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Opening Business Accounts

Alert! Update on Beneficial Ownership will be included! There are many types of business accounts with many different ways to do business today. It can be challenging to determine who is authorized to open, close, and transact business when dealing with so many business entities.

Upcoming
Tuesday, July 29th, 2025
1:30 pm - 3:30 pm
Presented by Deborah Crawford
$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Commercial/Business Lending
  • Customer Service
  • Deposit Accounts
  • Deposit Compliance
  • Management/Employee Development
  • Risk Management/Legal
  • Sales
  • Branch Manager
  • Consumer Lender/Retail Banker
  • Customer Service Representative
  • Private Banker
  • Senior Management
  • Teller
  • Training Manager
  • Trainer

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In addition to opening accounts in person for businesses, we now have businesses doing their banking online, with debit cards and through remote deposit. Because of these multiple entities and various approaches to opening accounts, numerous questions arise.

How do we set up these accounts and then change them as the businesses change? What happens when a partner dies? What happens when the sole proprietor dies? Can you keep the same EIN if a sole proprietorship incorporates? What if the LLC members are other businesses? How do they sign?

We will look at tax issues when a business is disregarded and reported in a different tax number. And the list of questions goes on. Understanding designations, rules, and authority on all different types of business accounts can assure that you are taking the proper precautions and can assist you in avoiding errors that can be costly to your organization.

What You'll Learn

  • Update on Beneficial Ownership
  • Basic documentation on business accounts
  • Changing signers on business accounts
  • What happens when an owner dies on a business account?
  • Can a business account have a beneficiary on account designation?
  • Can a partner remove another partner?
  • How do we give debit cards on business accounts? Where is the liability?
  • How do we run Customer Identification Programs on business accounts?
  • Can we have a power-of-attorney on a business account?
  • With the new complicated limited liability company, how can we tell who is authorized to remove a signer when they are all managing members?
  • Multi-tiered business accounts with businesses owning businesses – what are the CIP requirements?
  • What is disregarding an entity for tax purposes and how does that affect our account styling?
  • Resolutions, signature cards, and endorsements
  • And much, much more…

Who Should Attend

This informative session is ideal for customer service representatives, branch managers, lenders, personal bankers, training, branch administration, and tellers who work in the commercial area of the institution.

Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

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