The escrow deposit ticket is your new account form, and must be completed with your account number, your client's taxpayer identification number, client's address, and located on the reverse is a W-9 form to be signed by your client. Your client's taxpayer identification number will be the sub-account number. No minimum balance is required to earn interest. This account is exempt from direct monthly maintenance and per check charges. The interest rate is based on current market conditions.
Interest is earned from the day of deposit to the day of withdrawal.
We will mail 1099 forms to each of your clients and handle all required IRS reporting for you. No minimum balance is required to earn interest. Service fees are deducted from interest prior to remittance and cannot be charged to the master escrow account principal.