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WorksheetsBusiness/NonProfit
Total questions: 10
Worksheet time: 6mins
Business or Non-Profit accounts do not have to qualify for membership.
True
False
What is the monthly fee for the Business Checking Account?
$5
$10
$15
No Fee
What is the monthly fee for the Non-Profit Checking Account?
$5
$10
$15
No Fee
Non-Profit Checking Accounts can have Overdraft Privilege but not Overdraft Protection.
True
False
A Business Checking Account can have Overdraft Protection and Overdraft Privilege.
True
False
To remove Authorized Signers, they do not need to be present. The updated paperwork will show who was Removed/Added.
True
False
What type of business is it when the owner reaps the rewards of their own business efforts and bears the responsibility of any debts?
General Partnership
Sole Proprietorship
Limited Liability Company
Corporation (For Profit)
What does EIN stand for?
(a)
Who's information do we need to complete the Certification of Beneficial Owners?
The person opening a new account on behalf of a legal entity
Each individual who own 25% or more of the equity interests of the legal entity
Each individual who own 20% or more of the equity interests of the legal entity
An individual with significant responsibility for managing the legal entity member.
You should ALWAYS verify the legal documents with your Supervisor, AVP or COO before opening a Trust or Estate Account or Business/Non-Profit Account.
True
False
