F: Requestor Phone Number - Enter the phone number of the person submitting this request.

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1 A B C D E F H G I J K L M N O P Q R S T U V W Y X Z 1

2 A: Action Required Choose OPEN to request approval for a new account. Choose CLOSED to report an account that has been closed. If CLOSED is selected, enter the Control Number that was assigned to the original Open request. If the original Control Number is not known, leave the Control Number box blank. [Note: Do not submit an X 1 Request Form to report a closed account until the account has a zero balance and the bank has confirmed the closure] B: Batch Code Select your agency from online list. These codes are in alphabetical order and are used to identify each agency and reporting unit within an agency in R*STARS. Some Batch Codes have more than one agency location associated to it. Please choose the one that best applies to this request. If your Batch Agency Name needs additional clarification, then click the mouse on the Batch Agency Name field and add the additional text. If your Batch Agency is missing, notify Banking Services at tbais@treasurer.state.md.us and wait for further instructions. C: Requestor Name - The Requestor Name is the person submitting this request. This information is used by BSD as the primary agency contact responsible for this bank account in the event an agency needs to be contacted. The requestor name field will accommodate a 50 character name. A second box will appear during data entry, if needed. See sample: D: Requestor Title The Requestor Title is the Title of the person submitting this request. The title box will accommodate a 50 character title (see sample above). E: Requestor - Enter the address of the person submitting this request. A confirmation will be sent to this address once this form is submitted and again once the request has been processed and approved. F: Requestor Phone Number - Enter the phone number of the person submitting this request. G: Requestor Fax - Enter the fax number of the person submitting this request. H: Authorized Signer Name - The Authorized Signer is an agency contact with signing authority over the listed bank account. This information is used by BSD in the event an agency needs to be contacted regarding a specific account. The Authorized Signer Name field will accommodate a 50 character name. A second box will appear during data entry, if needed. See sample: I: Authorized Signer Title - Enter the Title of the Authorized Signer of this account. J: Authorized Signer Enter the address of the Authorized Signer of this account. K: Authorized Signer Phone Number Enter the phone number of the Authorized Signer of this account. L: Authorized Signer Fax Number Enter the fax number of the Authorized Signer of this account. M: Is Authorized Signer a State Employee? Select Yes or No. If no State employees are authorized signers on this account provide a brief explanation of the relationship of the authorized signer to the agency in the text box (for example: Signer is a third party administrator for health benefit payments.) Text box will accommodate 70 characters. See sample. 2

3 N: Bank Name Select bank where the account will be opened from the online list. If the correct bank name cannot be found in the dropdown list, select Other and type the bank name directly into the cell. O: Bank Account Number - Enter the correct full bank account number omitting any leading zero s or dashes. If this is a request to open a new account, the designated State representative for the bank selected will reserve / provide this account number to you pending final approval to open the account. P: Bank Account Title One The Bank Account Title should be the official title the account that will be listed on the deposit agreement with the bank (should be the same name that will appear on account statements). If the account will be opened with the title State Treasurer of Maryland the agency should also add some additional agency specific information in the entry box to aid identification in the TBAIS database [for example: State Treasurer of Maryland MVA working fund account ]. Q: Bank Account Title Two This box may be used for additional space if needed to complete the bank account title. R: Fed Tax ID No. For Bank Account The default value is the State s Federal Tax ID. If the account will be opened under a different tax ID, choose Other from the pull down list and enter the correct tax ID number. Also please specify the name of the legal entity or individual that this alternate Tax ID number represents. S: Source of Funds Choose Advance from Comptroller, Agency, or Other. If Agency or Other is chosen, you must provide a brief description of the Source of Funds in the text box. See example below: T: Account Purpose - Select the Account Purpose for the bank account from the drop down list. A brief description of each purpose is listed below: a) Bond Proceeds Bond Proceeds are funds (either cash or investments) held in a separate Trust account pursuant to a bond issuance of the applicable State agency. Use of the funds is governed by legal documents with a Trustee appointed to ensure compliance. b) Court Order / Litigant A Court Order or Litigant account is set-up as a result of a court order. Funds belong to litigants in a court action but are placed in an account under the control of State employees pending resolution of the case. c) Escrow An Escrow account is set-up to hold assets pending completion of a financial transaction (for example: retainage of a percentage of a contractor s payment for services pending the full performance of the contract). d) Fiduciary / custodial A Fiduciary / Custodial account is set-up to hold / manage the assets of others who are not able to manage the funds themselves (for example, foster child, prisoner, hospital patients, etc.) e) Investment An Investment account is set-up for the purpose of generating investment earnings (for example: savings accounts, certificate of deposit accounts, overnight investment sweep accounts) f) Lockbox A Lockbox account is set-up for the purpose of processing and depositing payments mailed to a specific post office box. g) Special account prescribed by law A Special account prescribed by law is an account set-up specifically to comply with a statutory requirement under Maryland law. If this purpose is selected, an additional text box will appear to enter the specific article or code section of the law authorizing the account (for example: Section SFP ). 3

4 h) Working Fund (Source of Funds Advance from Comptroller) permanent or temporary advances approved by the Comptroller s Office for the purpose of establishing working fund or imprest accounts. Funds are generally used for petty cash, travel expenses and other purposes where prompt payment cannot be made through the normal transmittal process. i) Working Fund (Source of Funds Agency) Agency funds set aside by an Agency for petty cash, travel expenses and other purposes where prompt payment cannot be made through the normal transmittal process. j) Working Fund (Source of Funds Other) any approved working fund account where the Source of Funds is not the Comptroller or the Agency itself. A description of the Source of Funds must be provided. See example below: k) Other For all Other purposes of accounts not listed above. Please provide a brief description of the purpose of the account. See example below: U: Account Type Select the specific type of account as documented in the deposit agreement entered into at the time the account is opened. Brief descriptions of the primary types of accounts are listed below: a) Certificate of Deposit Account (CD) a type of time deposit where the depositor enters into an agreement with the bank stipulating the funds must be kept on deposit for a stated period of time. The purpose is for generation of income on balances. b) Checking account Also referred to as a demand deposit account. Generally used for transactional purposes and not for the generation of income. Typically either a low rate of interest is earned or the bank provides for compensating balances ( i.e. earnings credits ) to be earned and applied to offset all or a portion of the bank s service fees. c) Investment / Trust account Typically these will be accounts held by the trust department of a bank or other financial institution. An example would be proceeds from a bond issuance that are invested in various securities pending disbursement for the authorized purpose. Another example is an overnight investment sweep arrangement where excess cash balances in an account are swept into a separate investment vehicle such as a repurchase agreement. Generally balances in these accounts are not covered by FDIC insurance and are not considered deposits of the bank. Security / Collateral for this type of account is determined from the legal documentation applicable to each account. d) Money Market Account a deposit account offered by a bank, which invests in government and corporate securities and pays the depositor interest based on current money market interest rates. e) Negotiable Order of Withdrawal Account (NOW) a type of deposit account offered by a bank that pays a stated rate of interest and on which a limited number of checks may be written. f) Savings Account accounts maintained by retail financial institutions that pay interest but cannot be used directly as money by writing checks. Primary purpose is to generate interest income. 4

5 g) Other For all Other types of accounts not listed above. Provide a brief description of the type of account in the text box that appears. The type of account should be identified on the bank s deposit agreement document. V: Estimated Account Balance Enter estimated average account balance expected to be held in the account. W: Will This Account Generate Investment Earnings? - The general rule for bank accounts established by State agencies is that they should be interest bearing accounts. 1. Enter YES (and proceed to #3 below) a. If the account will be set-up as an interest bearing account or will be set-up to generate investment income through another bank provided mechanism for the investment of daily balances in the account (such as through the use of an overnight sweep investment), or b. If the account is expected to regularly receive earnings credits in excess of the banks monthly charges for services, or if the account will receive interest income and earnings credits 2. Enter NO (and skip #3 below) a. If the account has been set-up to utilize compensating balances whereby account balances receive earnings credits to offset the bank s charges for banking services. 3. If your answer to the above question is YES, you will need to answer the additional question: Should earnings be transferred to State General Fund? (see example below) Please note the following guidance when answering this question: The general rule is that investment proceeds from agency bank accounts are to be paid to the General Fund of the State, unless otherwise specifically provided by law. One statutory exception to this rule pertains to excluded [see 6-213(d)(2) SFP] agency bank accounts used by state agencies to hold the personal funds of a resident or client of the agency. Therefore, unless the account is used to hold the personal assets of a resident or client of the state agency or is otherwise exempted through specific legislation, any investment earnings on the account should be transferred to the General Fund of the State and you should answer YES. Otherwise answer NO. If you do not know whether interest should be transferred, enter NEED RULING and BSD will assist in determining the correct answer 5

6 X: Electronic Signature Enter the Requestor Name EXACTLY as it appears in the Requestor Name field. Y: Enter The Security Code To Submit Enter the 6 character code that appears in the security code box. Z: Submit The Request Click on the Submit box to send your request to Banking Services. A Print Option will appear. Choose Print or Cancel. Print will send a hard copy of the request to your printer. 6

7 The following screen will appear if you have successfully completed the form and the information has been sent to Banking Services. An will then be sent to the Requestor address that was entered on the request. The will have the request form attached as a password protected PDF file. The password needed to open the PDF file will be sent as a separate . See sample: 7

8 Open the attached PDF file. A password box will appear. Enter the password provided in the other . You will then see the information that was sent to Banking Services. Note that the top of the form has the date and time stamp of when the form was submitted. At the bottom right of the form is request number that may be used to validate that the request was sent to Banking Services A sample of the PDF file can be seen below: 8

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