State Banking Board: Authority to offer tax preparation services, payroll services, and bookkeeping services

STATE OF NORTH DAKOTA BEFORE THE STATE BANKING BOARD ORDER This matter having come before the North Dakota State Banking Board on the request of Bank Forward, Hannaford, North Dakota, for permission to invest in a wholly owned subsidiary which would provide tax preparation, bookkeeping and payroll services. The North Dakota State Banking Board, having reviewed the Memorandum and supporting materials provided by Department staff, and otherwise being fully advised of the issues surrounding the request, hereby makes the following ORDER pursuant to N.D.C.C. § 6-03-02.3: The following are powers and activities which are authorized for a national bank and are hereby authorized for a North Dakota state-chartered bank:

1. Tax Preparation Services: a bank may assist its customers in preparing their tax returns, either gratuitously or for a reasonable fee. The bank may not act as an expert tax consultant.
2. Payroll Services: A bank may disburse to an employee of a customer payroll funds deposited with the bank by that customer. The bank may disburse those funds electronically or by direct payment to the employee.
3. Bookkeeping Services: A bank may provide accounting services to its customer. Dated this 13th day of November, 2008