Opening Deposit Accounts for LLCs: Documentation and Procedures

One of the most interesting types of businesses is also the most complicated. Learn how to open, document, change signers, and handle the paperwork on these accounts. From single member to multiple member LLCs, we'll cover all the definitions, tax reporting, CIP and due diligence issues for opening a deposit account for an LLC. You'll receive a state-specific chart and help with understanding the ins and outs of these deposit relationships.

What You Will Learn:

  • How to open and document the LLC for customer identification purposes
  • Who are managers, members, and signers?
  • What is an operating agreement - both written and oral?
  • Documents at account opening
  • Resolutions and Signature Cards
  • SSNs, EINs, and when to use what
  • Disregarding the single member owner for tax purposes
  • Changing members and signers
  • Multi-tiered LLCs in which businesses and trusts are members
  • LLCs "doing business as"
  • Beneficial ownership of LLCs

Who Should Attend?

New Account Representatives, Business Bankers, Personal Bankers, Commercial Loan Assistants, Branch Managers, Training and all Frontline Personnel.


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   OnDemand Recording - $295   
   CD-ROM - $345