Quote Originally Posted by John Howard View Post
What if the account was non-interest bearing from the start? Would that be a lawful money account or am I reaching too far?
The best way to think and act is this, endorsement creates the "taxable event".

Non endorsement (demand is made for lawful money per 12-USC 411) makes it a non-taxable event.

It is all on what YOU do, not what they do.