SET UP A BANK ACCOUNT AS A NON-RESIDENT

ALIEN/NATIONAL/PRIVATE CITIZEN AS THE SIGNOR:

1. Bring the Abstract of Trust, First & Last 2 pages of your Declaration of Trust,
Schedule A; & Banking Resolution; and

2. The 2 page EIN Receipt that you got from the IRS website giving you the EIN number
and telling you that you need to file a 1041 every April; and

3. Private Citizen/National Photo ID: Your World Service Passport (from

www.WorldService.org) &/or Non-Drivers License State Identification,
School/University Identification, Employee Identification, &/or U.S.A. State
Department-issued American National Passport – bring any and all, as many as you
have. If you have none of those, the EASIEST to get is the World Service passport, in fact it’s
automatic there is no instructions or trick “how” to get it, they will issue it to you 100% of the
time all you do is pay for it and submit the application to them. Do NOT bring any drivers
license, and when asked if you (the private citizen showing up) has a social security number
tell them NO YOU DO NOT!

4. BRING YOUR 2ND TRUSTEE IF THE BANK MANDATES IT, IF NOT THEY MAY BE
ABLE TO BE PRESENT FROM A DISTANCE ON THE TELEPHONE AT THE TIME OF
OPENING THE BANK AS WELL. If your Banking Resolution appoints BOTH trustee’s as
authorized users of the bank account, then many banks are starting to require that you BOTH must
be physically present in the bank upon opening up of the account, and BOTH provide Photo ID at the
time of opening. So you can both appear as private citizen ID of what you each have, if you both have
that. Or, if one of you appears as the private citizen national and the other does not and needs to
show a drivers license and give a social security number, that is your choice too. A lot of people are
trying to set it up with only the 1st Trustee as appointed as an account holder so that only you have
access to do banking and authorized to deal with the financial accounts. Many banks are not allowing
this now. The advantage of having both trustees authorized, is so that if you go to jail, get
hospitalized, disabled, stuck/lost oversees in battle, abducted by aliens or in the bermuda triangle, or
die – then the trust can live on and collect/accept deposits, monitor/balance it’s bank balance, send
money/write checks, purchase things, pay it’s bills. This is the whole point, so that when you die, your
funds are immediately available without your family having to pay a lawyer to go through an
expensive and lengthy “probate” process, to eventually months later with lots of lawyer’s help, open
your bank accounts back open. If you have your second trustee on there from day 1 now, then you
already set yourself up to “win” in the event of any of these circumstances requiring your
backup/second trustee to step up to the plate and handle any of your/trust’s financial affairs.
However if you do not fully trust somebody yet or are relatively young and wish to be solely in control
of this bank account then you can try to set it up with only you as the signor on the account. As of late
2016, Wells Fargo does not allow this.

5. Banks we know which are currently letting you open up a Trust Account, your options are:
Wells Fargo, PNC Bank, Chase (most other major banks will not open Trust Accounts,
but you can call 5 or 10 options and ask around you may also find others.)
orders, levy orders, or have the government or state attorney general try to freeze your account,
and that you are going to come into the bank and try to say no they can’t do that this is a trust
account and you may retaliate and sue the bank or argue with them or cause a problem for them.
They just want to make money and not have problems, but now you come in and demand a
special kind of “high risk” account. Especially when it’s a super rare thing, and trust accounts
make up less than 1% of even 1% if that. So they are not making a lot of money from customers
by helping you out and they may not be interested in helping you. You have to at least know
what you are talking about and have the appearance of a professional (go in WELL DRESSED),
and show you are at least moderately sophisticated in manners, intelligence, well-rounded, etc.
The associate or manager you talk to will have ultimate discretion and they may decline if they
get a “bad feeling” about you. So, don’t walk in there super entitled but also don’t walk in there
super like it’s not a normal thing either. You want to give the aura that you have something that
they want – your business and your money ! Banks make money by you having a lot of deposits
in the account , where they fractionalize and hypothecate the checks you deposit. So, if you can
give the impression like (and even tell them if/when needed) that you will or intend to be
depositing some fair amounts or receiving some fairly high account transfers, at least in six
figures range or higher. I would use that if you need any ammo in the negotiation or interview
process of the banker or associate feeling you out. Come up with a “story” or reason(s) to open
the account, such as “I expect to be receiving a lump sum of 6 figures as an inheritance / or from
the sale of a house”… make sure to be able to finish the story or add more info if inquired into
and if it feels right to share. Another reason is “to setup a trust forever to pass down large
amounts of money that you earn in your life, to pass down to future generations” (this is the case
for all of us so you can easily use this one). Or, you expect to receive a payout from the launch of
a startup venture , or the payout from an investment, or anything really. Again there is no reason
to tell them this walking in there but when you are building a relationship, learning about each
others needs, the banker opening an account for you might be asking why you chose them, why
you are doing a trust account why not just open a personal individual account with them, all this
stuff. So, know what you want and your answers to how you would respond to any questions
beforehand!

8. One problem that I have with some of these banks especially Wells Fargo is that they say that
they do not let you review the application beforehand, they fill out the form on the computer by
asking you questions. This is not really full disclosure or allowing you to review or think about
how you will respond to these questions. Therefore I am including a sample of the form they have,
as my clients have taken pictures with their phones or retained copies. Wells Fargo has the
audacity to say to you “Well, we can’t give you a copy prior to opening an account, but after it’s
opened we’ll give you a copy to take home and if you don’t agree with it you can always cancel
and close the account later”…. Ultimately the way they do things in the U.S. is backwards and
retarded and eventually you will want to open a Trust account Offshore/in another country.
However let’s start out taking baby steps to get to that point that takes even more knowledge,
risk, responsibility, experience, wisdom, and more resources (most are minimum deposit
requirements are $250,000 to open an offshore trust account). The bottom line here is that even
if it’s not perfect, sometimes you just need to do it anyway so you can MOVE FORWARD and have
the experience to look back on and later on you will find a way to do it better or someone to do it
for/with you better. If you stay stagnant and take years and years never to act because you just
don’t find out exactly what you want, you will never move ahead you will just stagnate every
experience in your life.

9. Another problem with Wells Fargo is that they were recently all over the news and paid a big
fine for opening millions of FAKE customer accounts, just google it! So if they cause you any
problems, honestly if it were me I would throw that in there face, maybe tactfully if you still want
to open an account there, but maybe say, you guys are facing a huge public relations nightmare
due to the fake account scandal, what would you do for me if I opened an account with you
today? Can I get $1000 cash back? Can I get something as an incentive? Otherwise, well, how do
I know I can really trust you, you have to do something FOR ME to win me over, I can go across
the street and open an account with PNC or Chase or some other bank. What are you currently
offering to people who open new accounts to SAVE FACE from one of the largest corrupt bank
scandals in recent years??? (LOL)
 THINGS TO DO AFTER YOUR ACCOUNT IS OPEN:

10. Here is a 2015 Income Tax Return for Trusts – it is a 1041: https://www.irs.gov/pub/irs-
pdf/f1041.pdf Many trusts will just file and owe $0 after all the expenses, but that may or may
not be the case with you, but you need to file your financial statements and declare the trust’
profit/income on a tax return annually. Keep in mind that it can be audited at any time in the
future, so backup and keep good records!! We recommend using a tool like Turbo Tax instead of
this form. There is a penalty every month late for not filing.

11. If your Trust makes a payment over $600 to another individual or company, that is
considered compensation based on a contract and NOT considered a “purchase” – then you
must file a 1099 for all those contractors at the end of the year. A few useful sites to help you
keep track and file accurately and on time are: http://www.efile4biz.com,
https://www.track1099.com There are penalties every month late for not filing these.

12. We also recommend having accounting software, and learning how to use them,
- some options are: www.FreshBooks.com www.QuickBooks.com and
http://xtuple.com/products/postbooks (free)

And/or hiring an accountant who can manage your books for your trust.

13. Remember that the Trustee’s Living Expenses/Medical Expenses etc, could be a business expenses and
therefore a tax deduction for the trust; as can any/all property in the trust, phone bills, homes, cars, etc.
Knowing how to do this correctly if your trust chooses to contact like this with one trustee, or both trustees,
is up to you. Taking responsibility for your own knowledge and how to keep good records has a big payoff
because you will probably wind up paying less taxes by putting most things in trust rather than using your
regular SSN bank account. Get professional advice, resources, and information. The Art of Passing the Buck
is by far the best and most comprehensive series of books on truly understanding Trust’s inside and out.
Volume 2 especially...it is 600 pages. Also look online, review the IRS website, get as much
information as you can, especially the more you use the trust and the more deposits go into it, the
more you should get serious about learning confidently and comprehensively what you can and can’t
do, whereas if you don’t have a lot of money flowing through it, the consequences of making
mistakes is although not recommended, not nearly as consequential. There will be more resources as
part of a study group on Trust’s so that members can share what they learn(ed) with each other, in
the coming couple of years.

14. The best beginner book on Accounting is "Accounting for Dummies" you can get it at Barnes n
Noble or any bookstore. You can also take a class for about $1000/1500 at pennfoster.edu. Even if you
hire an accountant, you should know what to DO and TELL your accountant, so you still need a basic
primer on Accounting strategies.

HOW TO SET UP YOUR ACCOUNT

NOT AS A NON-RESIDENT ALIEN:
Replace Step 3 above with: show them your Drivers License and give your SSN. It’s easy and quick
and you’ll have less scrutiny and red tape.

As a Secured Party Creditor, you still have the protections of your strawman/SSN # being property of
your trust and you can still operate the account , the account will be taxed via the EIN number, and
even though you set it up with the social, it’s not income to your strawman whatsoever.
Based on which option you pick (set up account as Non-Resident Alien or Not, ), you will fill this out
differently, but just answer the questions based upon YOU KNOWING WHO ARE YOU AND WHAT
YOU ARE DOING!

Non-Resident Aliens will need to show a W-8BEN also so bring the copy of the W8 from your SPC
filings or a second duplicate original of just the front 1st page not the reverse affidavit page also.

Attached is a sample of some of the language either on their computer screen or on the pagework
that they have you fill out.

By the way, you can not go back into the same bank and say you are a non-resident alien after you
went in saying you have a SSN and/or drivers license ! You can not go in with a SSN/Driver license
and then change your mind and go back in to the same bank (especially same branch) and say now
you are a non-resident alien! You can’t “try one” and then go back and try the other method with the
same bank. They are going to keep the records and see you are switching what you claim your
status and nationality or residency is, at your whim. Not cool! So don’t do it. Or, try 1 method at one
bank and then pick another branch or different bank the other time around.