Escheatment - Cashiers Check | For Bankers. From Bankers Working through old cashier's checks that haven't been cashed for escheatment purposes We had a check made out to XYZ, LLC back in 2021 One of the partners reached out and indicated that he would like a new cashier's check issued The LLC is no longer an active LLC, so how should a ne
Escheatment - Safe Deposit Box | For Bankers. From Bankers Fellow WI Bankers I'm working on the escheatment report first time reporting safe deposit box contents They are asking for a Tangible Code for each of the items listed I cannot find a list of tangible codes anywhere on the WI Unclaimed Property site Anyone have anything th
Reg E Calculator Liability Calculation Tool - Bankers Online When there are unauthorized withdrawal claims under Reg E the math gets tricky - When did the consumer learn of the loss or theft? - When did the consumer notify the bank? - How much was withdrawn in the first two business days, after that, and after the statement was delivered plus 60 days? The math gets sloppy but if it is done wrong, the bank may have more liability than when the claim was
Escheatment of Cashiers Checks - Bankers Online Escheatment of Cashier's Checks - 08 27 0201:07 PM When escheating cashier's checks to unclaimed property, would the owner be the remitter or the payee? I think it should be the remitter because he she has come to you and purchased this cashier's check and he she is the owner of said cashier's check until it is given to someone else
SCRA applicability to Safe Deposit Boxes - Bankers Online We recently were examined for SCRA compliance It was stated by the regulators that safe deposit boxes applied to SCRA Does anyone currently have a system or procedure in place to address SCRA in their safe deposit agreement or procedures? For example, manually checking the SCRA website for servicemembers before forcing a box for non-payment of SD rent?
Escheatment of Roth IRAs | For Bankers. From Bankers Any ideas when Georgia DOR considers a Roth IRA escheatable? I was told by Department of Revenue a few years ago that a traditional IRA is escheatable five years after the owner is age 70 5 (so age 75 5) if no activity or indication of interest as defined in the code, unless we have know
Escheatment of deposit accounts - Bankers Online Escheatment of deposit accounts - 09 17 1406:09 PM Am I correct that if you have an account that has had no activity in 3 years, but you have an address on file and statements or other correspondence is not being returned to the bank that you do not have to consider the account for escheatment?
What Does Escheatment Mean? - Bankers Online What Does Escheatment Mean? Question: What exactly does Escheatment mean? This content is for Premium Subscribers only SUBSCRIBE to Bankers' Hotline to get access today! If you are already a Premium Subscriber please login to view this content BankersOnline is a free service made possible by the generous support of our advertisers and sponsors
Which States Escheat Laws Govern? - Bankers Online Which State's Escheat Laws Govern? - 01 21 0504:13 PM If we are merging an Alabama Bank with a Florida Bank within our Holding Company and the Florida Bank will be the surviving Charter, how will this affect escheatment? Specifically, Florida states 5 years on its disclosure and Alabama states 3 years We need to know so we can update the parameters in our shared computer system Posted By