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Thread: How DO I open a bank account that is not attached to any SS number or State ID?

  1. #61
    Quote Originally Posted by Chex View Post
    I like •3.17 Quit Social Security and Rescind the number assigned to you, and I want the contributions my employer and I put into the SSA account.

    Termination at the request of the recipient.


    There are 14 Updates appearing in the Federal Register for 20 CFR 416. http://www.law.cornell.edu/cfr/text/20/416.1333
    Someone I know visited an SSA office and asked if there was a form that existed to terminate the card account, benefit etc. The desk clerk (helpful) searched for any such form. The desk clerk was asked if there was a Form 521 and if there were instructions. Being helpful (I witnessed this) she went to find her manager who insisted there was no such thing..no such for..no way to cancel/terminate the card/account etc. So the next step was to go get the form which was out in the car. Went to the same clerk, showed her the form. She showed sincere surprise, she was asked if there were instructions for the form. She went to the manager. When the manager saw the form (a butchish, redhead female) she could not contain her self. She SHRIEKED "HOW DID HE GET THAT?!" and red-faced, angry and caught in a lie by multiple witnesses scurried back into her office out of sight. So that form must be 'insignificant' right?
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

  2. #62
    JohnnyCash
    Guest
    Form 521 won't cancel/terminate the card/account. It's a request to cancel your application for SS benefits. Doesn't apply to most of working America. http://www.ssa.gov/retire2/withdrawal.htm

    Thank you for taking time out of your day to address our humble gathering.

  3. #63
    Quote Originally Posted by JohnnyCash View Post
    Form 521 won't cancel/terminate the card/account. It's a request to cancel your application for SS benefits. Doesn't apply to most of working America. http://www.ssa.gov/retire2/withdrawal.htm

    Thank you for taking time out of your day to address our humble gathering.
    AFAIK both the card itself and the account are a benefit. To cancel the account, I would suspect that a very direct written cancellation rather than a "request" to cancel might be better. If the form wasn't suitable for withdrawing the card/account benefit I suspect the branch manager wouldn't have been in such a storm.

    Related: Withdraw from Social Security
    Last edited by allodial; 02-20-15 at 10:19 PM.
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

  4. #64
    JohnnyCash
    Guest
    Let us say ...

    Mabel has operated a diner from a building near the road on her property for a long time. It's called Mabel's Kitchen. The business entity started as a sole proprietorship - Mabel Smith d/b/a Mabel's Kitchen. She never registered the DBA (Doing Business As) nor the trade name.

    Now Mabel is getting on in years and her children now handle most of the work. Also, much of her business is now coming from catering & online sales of "Mabels" branded products. For these and other reasons Mabel considers incorporating the business but finally decides to form a trust - MABEL'S KITCHEN TRUST - on 2/19/2015.

    Now on 2/20/15 everyone arrives at the diner and told the business entity has changed, but she doesn't change the restaurant signage and continues to answer the phone as Mabel's Kitchen. That's the trade name the new trust will continue to use. The business continues to use the old bank account seemingly without any issues.

  5. #65
    Sole Proprietorships tend to be associated with Fictitious Name Registrations -> Mabel Smith d/b/a Mabel's Kitchen. MABEL'S KITCHEN TRUST (i.e. the trustee or the trust corpus in action) can file a fictitious name registration showing that it is d/b/a Mabel's Kitchen. If she got an IRS EIN assignment its possible she could have opened the bank account without filing a DBA locally.

    The bank and the IRS can be given a copy of the power of attorney effectively given to the trustee/trust over "Mabel's Kitchen" and over any the existing accounts. She can give consent to the use of the trade name intellectual property in writing as part of the trust declaration. The new trust can also establish separate bank accounts. If Mabel never registered the old dba, likely the bank accounts are in the name Mabel Smith unless she managed to get the bank to open it that way--and so still she can do up a power of attorney to the trustee /trust.

    It tends to be rather 'universal' that a DBA need not be filed if the 'name' of the business has the name of the proprietor. As in Mable Smith having a company name Mabel's Diner might be exempt from requirement to register a dba.

    Mabel Smith will want to be very particular about how she forms the trust (it could be a living trust, revocable, irrevocable trust, etc.) and how real property, intellectual property or other property are transferred to the trust. Real property transfers might be best done by filing in the Real Estate records of the respective county/parish were applicable.

    Depending on the way the new trust is established, Mabel Smith could be the senior trustee and appoint a successor trustee.
    Last edited by allodial; 02-21-15 at 03:13 AM.
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

  6. #66
    Quote Originally Posted by allodial View Post
    Me and banks...long story. I avoid them. It became clear to me that in the US in the past 20 years or so purpose has been to obstruct/prevent/interfere and spy. In the past say five years I have spent more time teaching branch managers than getting useful services out of them. If I got involved directly it would likely be me talking with bank counsel rather than a teller. Of course, I am for redeeming for lawful money or non-endorsement. Point was -> inkjets can be used instead of stamps to do non-endorsement--using practice/test blanks helps prevent ruining a check. Knowing what color socks I wear probably isn't going to assist with remedy unless you want to be as cool as me. Have you met Shoonra yet?

    P.S. Trying psychology on me is LOL. "These aren't are the droids you're looking for."
    If you haven't met Shoonra i.e. 'Uncle Bernie' you are in for a treat folks.

    Very colorful character to say the least ....

  7. #67
    Quote Originally Posted by Chex View Post
    I like •3.17 Quit Social Security and Rescind the number assigned to you, and I want the contributions my employer and I put into the SSA account.

    Termination at the request of the recipient.


    There are 14 Updates appearing in the Federal Register for 20 CFR 416. http://www.law.cornell.edu/cfr/text/20/416.1333
    A big, big thank-you for this one.

    A most excellent find.

  8. #68
    stoneFree
    Guest
    I've heard that LLC and trust entities are not required to file an annual report. Sounds like an advantage.

  9. #69
    Quote Originally Posted by stoneFree View Post
    I've heard that LLC and trust entities are not required to file an annual report. Sounds like an advantage.
    The same might apply to general partnerships (and sole proprietorship. Re: LLCs, might vary from State to State. Also, looking into what constitutes "doing business" might be worthwhile. Because one might believe something is "doing business" in a State when it isn't.

    Related:
    Last edited by allodial; 03-14-15 at 02:50 AM.
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

  10. #70
    stoneFree
    Guest
    Relarded: Work for years paying 6.2% into Social Security, then terminate your eligibility for benefits so you'll never see a dime of it.


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