Opening Accounts for Limited Liability Companies (LLCs)

Limited Liability Companies are a hybrid company created by mixing a corporation and a partnership.  Since some features are like a partnership and some features are like a corporation it represents an interesting business with new challenges for our business bankers.  Now LLCs come in two flavors:  Single Member LLCs and Multi-Member LLCs.  There are different challenges with theses two types of LLCs and different tax reporting for the two types of LLCs.  This program offers a look at the documentation, tax reporting and CIP issues for LLCs.  We will look at multi-tiered businesses where the members of LLCs are other types of businesses.  LLCs are the business type of the future.  We are opening more LLCs than any other type of business and this trend will continue into the future.  Learn more about the most the LLCs as they increase in popularity.

HIGHLIGHTS

• CIP Requirements for Opening LLCs
• Single Member LLCs opening document
• Multi-member LLCs opening documents
• Managing Member duties and responsibilities
• Adding and deleting signers on LLCs
• Tax reporting issues on LLCs
• Doing Business As on LLCs
• What to do when the members of the LLCs are other businesses
• Filing Requirements at the Secretary of State's office
• What to do when a member dies
• FDIC insurance on LLCs
• Can a LLC have a NOW account?
• Resolutions, signature cards and changes

WHY SHOULD YOU PARTICIPATE?

This session is a cost-effective way to __train frontline staff on this type of business ownership.   You may train as many individuals as you like for one set price.  There will be no travel costs, time lost from work and no one will be required to leave the institution.

WHO SHOULD ATTEND?

This informative session is (designed for, would best suit, is directed to, etc.) Customer Service Representatives, Personal Bankers, Branch Managers, Branch Administration, Loan Officers and Secretaries, and any one who works the frontline.