Implementing Beneficial Owners on Legal Entities

Fast approaching May 11, 2018 deadline has us asking more complicated questions about beneficial ownership of accounts. What is excluded? What is included? What is exempt? How do we handle renewals of CDs and loans. Can we do beneficial ownership form at the account level or the customer level? It goes on and on. How to map multi-tiered businesses and the human beings who own them.

This program is designed to focus on business accounts and the opening procedures, changing ownership, implementing this process and all the questions it brings.

What You Will Learn:

  • How to handle renewals
  • How to handle all types of businesses and beneficial ownership
  • Writing your business procedures
  • Changing signers and owners
  • Mapping multitiered businesses
  • What to do with beneficial ownership and controlling person information
  • Exclusions, exemptions and exempt activity
  • OFAC, 314 a and other compliance issues

Who Should Attend?

BSA Officer, Compliance, Deposit Operations, Loan Operations and Branch Administration