NFA Trust Notary and Checking Accounts

vgplayer · Feb 17, 2016

I attempted to have my trust notarized this morning at a local credit union (Cedar Point Federal Credit Union - Prince Fredrick). In the conversation explaining what NFA is the comment I received back was "You guys are getting so smart trying to skirt the laws...." which I interpreted as "I ain't notarizing your papers". She called the compliance office and reported she was told they could not notarize citing a conflict of interest if I opened a checking account for the trust they notarized.

She stated that I could have it notarized elsewhere but if I were to open a trust checking account she would need a full copy of the trust to send to the compliance office for review.

So I am asking the MDS community
What has been your experience with banks and NFA trusts lately?
Have you had been denied a notarization or opening of an account?
Did you need to provide a full copy of the trust to open an account?

outrider58 · Feb 17, 2016

vgplayer said:
I attempted to have my trust notarized this morning at a local credit union (Cedar Point Federal Credit Union - Prince Fredrick). In the conversation explaining what NFA is the comment I received back was "You guys are getting so smart trying skirt the laws...." which I interpreted as "I ain't notarizing your papers". She called the compliance office and reported she was told they could not notarize citing a conflict of interest if I opened a checking account for the trust they notarized.

She stated that I could have it notarized elsewhere but if I were to open a trust checking account she would need a full copy of the trust to send to the compliance office for review.

So I am asking the MDS community
What has been your experience with banks and NFA trusts lately?
Have you had been denied a notarization or opening of an account?
Did you need to provide a full copy of the trust to open an account?

That's total oxen sheist! Take thee to a UPS store and they'll do it for you. Sheesh!

teratos · Feb 17, 2016

Not all lawyers recommend a trust checking account.

dontpanic · Feb 17, 2016

Don't bother with a trust account. It really is a waste of time and energy.

They do not need to know what they are notarizing. Just that the signataries are who they say they are. My credit union notarized mine but I did not volunteer any unnecessary information.

At this point, just go to the closest tag and title service. They will notarize it and not ask any questions.

Imkeenstranger · Feb 17, 2016

I opened one up with m&t and they had their compliance office review it. Took a day, got approved. Trust notarized and account opened by the bank. A full copy was submitted.

outrider58 · Feb 17, 2016

When I opened my account, they needed a copy of my trust. Gave them one and it was fine. But I have a friendly bank.

Jaymiller5 · Feb 17, 2016

I keep my trust fund in the binder of my trust. There is no need for a checking account and my lawyer actually suggested against it.

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SW6906user · Feb 17, 2016

Hmmm, I had my trust notarized at my credit union with no problem, They even tried to up my credit limit. I do have checking, saving and a loan & CC with them but all I have to have is a savings account to be a member.

dementlr · Feb 17, 2016

I did not open an account, but Navy Federal Notarized the Trust with no hassle.

vgplayer · Feb 17, 2016

After consulting the lawyer that drafted the trust I will not continue pursing the trust checking account.

She looked at the title which says "VGPLAYER NFA TRUST" and started inquiring about the type of trust.

On the website it states:

Notary Public

Notary Services are available Monday - Friday at all offices and on Saturday at the Headquarters Office. We also offer signature guarantees. There is a fee of $2.00 per stamp for notary services.

Cedar Point Notaries may not notarize the following:
Any documents for non-members
Wills or Codicils
Mortgage documents originating from another lender
Deeds of Trust
Powers of Attorney
"True copies"
Form "I-9"

Jollyllama · Feb 17, 2016

Had mine notarized at PNC. Opened up an account with it. My attorney suggested having an account for it. He was/ maybe still is an IP.

JohnnyE · Feb 17, 2016

I do not have a trust account. I use a personal check to pay all of my NFA tax obligations.

When having documents notarized over the years, I have used a sheet of paper to shield the contents of the document from the notary. All the notary could see are the signature lines. The contents of the document is none of the notary's business. All they are doing is attesting to the identity of the signatory, not the contents of the document. Tell them it's a will or trust for a disabled relative and, politely to MYOB!

Gryphon · Feb 17, 2016

Tell them before you elect to open an account your wife requires they present a certified copy of the banks assets to deposits ratio, and a certified copy of any government audit report for the last 5 years. Then when they stare at you puzzled tell them to eff off. Once you get the trust notarized at the local Postal Plus, staple a $1 American greenback to the front page and don't ever spend it.

Blackstar65 · Feb 17, 2016

I had mine notarized at the pnc in laplata. The notary read it over and her only question revolved around what happens if the next in line is under 21. Other than that no issues.. I already bank with pnc.

Blackstar65 · Feb 17, 2016

Gryphon said:
Tell them before you elect to open an account your wife requires they present a certified copy of the banks assets to deposits ratio, and a certified copy of any government audit report for the last 5 years. Then when they stare at you puzzled tell them to eff off. Once you get the trust notarized at the local Postal Plus, staple a $1 American greenback to the front page and don't ever spend it.

Why the dollar?

dontpanic · Feb 17, 2016

Blackstar65 said:
Why the dollar?

It funds the trust. Same as a bank account.

Dmacri25 · Feb 17, 2016

APGFCU notarized mine, The guy was a gun guy!

fred333 · Feb 17, 2016

I hate to say it, but using the G-word (GUN!!) in mixed company today is akin to saying you want to open an account to fund an underground bomb factory in 1968.
Today, we are the radicals.

outrider58 · Feb 17, 2016

Its just a revocable trust right? No need to use the G word....

fred333 · Feb 17, 2016

outrider58 said:
Its just a revocable trust right? No need to use the G word....

"In the conversation explaining what NFA is"

Honesty used to be the best policy. That's obviously not true anymore. But I guess some find it hard to let go of their guns, bibles and Golden Rules.

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