Corporation
can sign off on a Corporate resolution
Who is Corporation's Titled Officers
Examples: president , secretary , treasurer ,
vice president or signing officer/s of the corporation
True or False
First Nations are Unincorporated entities
False
First Nation entities are incorporated. CIF MOCI will be programmed as such:
Company Type: Private Incorporated
Business Type: First Nation/Indian Bands
a Joint Venture
What is an unincorporated entity consisting of 2 or more entities
The three types of partnerships we deal with in Canada
What are: General Partnership, Limited Partnership, Limited Liability Partnership
A trust that generally takes effect on the day a person dies.
What is a testamentary trust.
last digit ends in "0" instead of "5"
what is the correct class code
True or False
First Nation Entities have Directors
False
(First Nation entities do not have Directors. CPA CMPL screen will display as Non-Compliant for Director Information due to their MOCI programing and no Directors on MOAD. We are able to proceed with this message.)
True or False
A formal Joint Venture agreement is a required document
True
Client signed formal agreement is always provided which verifies individuals or companies involved in the Joint Venture
Holds Control in a LP
What is General Partner
This type of trust is created by a settlor and has a duration that is determined at the trust's creation.
Additional document/s needed if working if Foreign and US Entities
what is " good standing " document
How is ownership typically programmed for First Nation Entities on CIF MOAD?
Ownership percentage on CIF MOAD will be blank.
(First Nation communities are not owned by anyone and are recognized as self governing groups.)
How is the G03 lodged for Joint Venture entities?
A G03 is lodged with no order/reference number since it is an unincorporated entity
Originating document that can verify the address but we don't always need it
What is Partnership Registration
Product code 44.
What is client trust.
True or False
On a Limited Liability Corporation, Manager is considered as Director.
what is True
Read the statement below and select which items are correct:
1) TD Corporate Resolution is used for authorized signers and signing restriction only.
2) Band Council Resolution (signed with quorum) is used to add authorized singers and signing restrictions only.
3) TD Corporate Resolution and Band Council Resolution (signed with quorum) are acceptable to bind the entity.
3) TD Corporate Resolution and Band Council Resolution (signed with quorum) are acceptable to bind the entity.
True or False
The signors of the Joint Venture sign off on the TD Joint Venture Agreement
False
The TD Joint Venture Agreement will be signed by ALL JV members according to each of the member's signing restrictions as per their resolutions
Partners have changed? As per BWEB, we need these
What are Amended Partnership Agreement(s) and NPIA clause found on an approved document
These people need to all sign the authorize signing letter.
Who are the trustees?
For US Entity. Acceptable Documents we can accept to verify directors.
what are
1. Meeting Minutes ( to be dated and signed and clearly stating who the directors are.
2. Shareholders Resolution
3. Directors Resolution
What documents are required for opening an account for First Nation entities?
BBSA
Signature Card
Proof of Existence (Specialized BSR)
Applicable Resolution/Band Council Resolution
FATCA
What do we look for on the Formal Joint Venture Agreement?
The Formal Joint Venture Agreement must be:
1. Signed by all members
2. Includes the JV members involved, legal name of the JV, ownership each member has (if applicable)
3. Must be dated
Except for limited partners in a LP, we need these on file for non-human partners in a partnership
entity-specific Resolutions
This form is required when we receive letter of direction from lawyer/realtor to remit interest to the respective foundation.
What is CIPS?