It seems like it's more of an interpretation of the law/regulations that seems to be mostly shared among institutions, so it's a little more than a "norm." I had to provide similar information and set up an account etc. when receiving an inheritance.lolBut you will be investing with them. The cash/settlement account is technically a investment.
This triggers IRS reporting snd money laundering reporting.
Besides, I have seen people make similar declarations and then seen them stall for decades.
I work in operations. Boring dull as dishwater operations. We like to see that all of the boxes have been ticked.
I see what you're saying. But all I should really have to do is prove I am who I say I am for an inheritance. My occupation, marital status, total net worth, favorite ice cream flavor, etc are not required for that. Oh well. Thanks again for those who related similar stories; at least I know it's more or less the norm, even if it is IMO a stupid norm.
Statistics: Posted by tibbitts — Thu Mar 28, 2024 10:52 pm — Replies 48 — Views 1698