Deposit Regulation Update and Review

Change is in the air! Are you ready?

We kick off 2020 with many changes to IRAs under the SECURE Act. We also have interest reporting rules finalized which will change your Nonresident alien interest reporting. There will be a change on beneficial ownership as we watch the Illicit Cash Act leave the house and move to the Senate. We may see the eventual migration of beneficial ownership to FinCEN where the CTRs and SARs are housed. This year brings a technical change to the Currency Transaction Report effective February 1, 2020. Plus, our favorite Regulation CC changes effective July 1, 2020. If you think 200 and 4800 is hard on large deposits, try 225 and 5300 for our tellers as the new numbers.

Covered Topics

  • Regulation CC Changes
  • Nonresident alien interest reporting
  • Currency Transaction Reporting
  • A peek at the Illicit Cash Act
  • Continued Issues with Savings and Time Deposits
  • New account restrictions and exam issues
  • ODP and new lawsuits and “good funds”
  • Regulation E unauthorized transaction rules and challenges
  • And much much more 

Who Should Attend?

Deposit Operations, Deposit Compliance, IRA Personnel, Branch Staff and Managers.