12 C.F.R. § 370 app A to Part 370
Current through November 30, 2024
A covered institution must use the codes defined below when assigning ownership right and capacity codes.
| Code | Illustrative description |
| SGL | Single Account (12 CFR 330.6 ) : An account owned by one person with no testamentary or "payable-on-death" beneficiaries. It includes individual accounts, sole proprietorship accounts, single-name accounts containing community property funds, and accounts of a decedent and accounts held by executors or administrators of a decedent's estate. |
| JNT | Joint Account (12 CFR 330.9 ) : An account owned by two or more persons with no testamentary or "payable-on-death" beneficiaries (other than surviving co-owners) An account does not qualify as a joint account unless: (1) All co-owners are living persons; (2) each co-owner has personally signed a deposit account signature card (except that the signature requirement does not apply to certificates of deposit, to any deposit obligation evidenced by a negotiable instrument, or to any account maintained on behalf of the co-owners by an agent or custodian); and (3) each co-owner possesses withdrawal rights on the same basis. |
| REV | Revocable Trust Account (12 CFR 330.10 ) : An account owned by one or more persons that evidences an intention that, upon the death of the owner(s), the funds shall belong to one or more beneficiaries. There are two types of revocable trust accounts: |
| (1) Payable-on-Death Account (Informal Revocable Trust Account): An account owned by one or more persons with one or more testamentary or "payable-on-death" beneficiaries. | |
| (2) Revocable Living Trust Account (Formal Revocable Trust Account): An account in the name of a formal revocable "living trust" with one or more grantors and one or more testamentary beneficiaries. | |
| IRR | Irrevocable Trust Account (12 CFR 330.13 ) : An account in the name of an irrevocable trust (unless the trustee is an insured depository institution, in which case the applicable code is DIT). |
| CRA | Certain Other Retirement Accounts (12 CFR 330.14(b)-(c) ) to the extent that participants under such plan have the right to direct the investment of assets held in individual accounts maintained on their behalf by the plan, including an individual retirement account described in section 408(a) of the Internal Revenue Code (26 U.S.C. 408(a) ), an account of a deferred compensation plan described in section 457 of the Internal Revenue Code (26 U.S.C. 457 ), an account of an individual account plan as defined in section 3(34) of the Employee Retirement Income Security Act (29 U.S.C. 1002 ), a plan described in section 401(d) of the Internal Revenue Code (26 U.S.C. 401(d) ). |
| EBP | Employee Benefit Plan Account (12 CFR 330.14 ) : An account of an employee benefit plan as defined in section 3(3) of the Employee Retirement Income Security Act (29 U.S.C. 1002 ), including any plan described in section 401(d) of the Internal Revenue Code (26 U.S.C. 401(d) ), but not including any account classified as a Certain Retirement Account. |
| BUS | Business/Organization Account (12 CFR 330.11 ) : An account of an organization engaged in an `independent activity' (as defined in § 330.1(g) ), but not an account of a sole proprietorship. |
| This category includes: | |
| a. Corporation Account: An account owned by a corporation. | |
| b. Partnership Account: An account owned by a partnership. | |
| c. Unincorporated Association Account: An account owned by an unincorporated association (i.e., an account owned by an association of two or more persons formed for some religious, educational, charitable, social, or other noncommercial purpose). | |
| GOV1-GOV2-GOV3 | Government Account (12 CFR 330.15 ) : An account of a governmental entity. |
| GOV1 | All time and savings deposit accounts of the United States and all time and savings deposit accounts of a state, county, municipality, or political subdivision depositing funds in an insured depository institution in the state comprising the public unit or wherein the public unit is located (including any insured depository institution having a branch in said state) |
| GOV2 | All demand deposit accounts of the United States and all demand deposit accounts of a state, county, municipality, or political subdivision depositing funds in an insured depository institution in the state comprising the public unit or wherein the public unit is located (including any insured depository institution having a branch in said state) |
| GOV3 | All deposits, regardless of whether they are time, savings or demand deposit accounts of a state, county, municipality or political subdivision depositing funds in an insured depository institution outside of the state comprising the public unit or wherein the public unit is located. |
| MSA | Mortgage Servicing Account (12 CFR 330.7(d) ) : An account held by a mortgage servicer, funded by payments by mortgagors of principal and interest. |
| PBA | Public Bond Accounts (12 CFR 330.15(c) ) : An account consisting of funds held by an officer, agent or employee of a public unit for the purpose of discharging a debt owed to the holders of notes or bonds issued by the public unit. |
| DIT | IDI as trustee of irrevocable trust accounts (12 CFR 330.12 ) : "Trust funds" (as defined in § 330.1(q) ) account held by an insured depository institution as trustee of an irrevocable trust. |
| ANC | Annuity Contract Accounts (12 CFR 330.8 ) : Funds held by an insurance company or other corporation in a deposit account for the sole purpose of funding life insurance or annuity contracts and any benefits incidental to such contracts. |
| BIA | Custodian accounts for American Indians (12 CFR 330.7(e) ) : Funds deposited by the Bureau of Indian Affairs of the United States Department of the Interior (the "BIA") on behalf of American Indians pursuant to 25 U.S.C. 162(a) , or by any other disbursing agent of the United States on behalf of American Indians pursuant to similar authority, in an insured depository institution. |
| DOE | IDI Accounts under Department of Energy Program: Funds deposited by an insured depository institution pursuant to the Bank Deposit Financial Assistance Program of the Department of Energy. |
12 C.F.R. 370 app A to Part 370