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09-12-2020, 02:22 PM
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#1
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Junior Member
Join Date: Oct 2015
Posts: 3
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Patriot Act Problem
We are currently Escapees domiciled in SD with TX mailing address. We now have IRA’s and investment accounts with Schwab subsequent to transfer from USAA. Schwab has informed us that our accounts are due to be locked since both our addresses are non-residential. Has anyone come across a work around? Schwab informs us that a residential address is required as a money laundering preventive measure by the Patriot Act. Any ideas
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09-12-2020, 02:31 PM
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#2
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Senior Member
Entegra Owners Club
Join Date: Jan 2011
Posts: 808
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Mike, read this below. We just went thru the same thing. USAA shut our accounts off without notice. They claim they sent an email to us . . not! At least you were notified.
https://rv-dreams.typepad.com/rvdrea...ll-timers.html
__________________
Brian and Julie
Hamilton & Zuri - Rhodesian Ridgebacks
2016 Anthem 44L / HWH Active Air / RF Mogul
2024 RAM Limited FMCA #420209
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09-12-2020, 02:32 PM
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#3
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Senior Member
Join Date: Nov 2015
Posts: 26,848
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WHY are you 'domiciled' in SD and using a TX Mailing Address???
Why don't you set up thru Escapees a TX domicile and Mailing Address?
Escapees in Livingston has been 'tested'
Use the same mailing address and Domicile
And I would do it SOON before your Schwab accounts are 'LOCKED"
Call Escapees and discuss the Patriot Act and their dealings
Phone: 936-327-8873
brainw8602
That is VERY Good info you posted .
Thanks!
__________________
I took my Medication today. HAVE YOU?
Dodge 3500 w/Tractor Motor
US NAVY---USS Decatur DDG-31
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09-12-2020, 02:37 PM
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#4
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Senior Member
Join Date: Nov 2017
Location: Back Woods of NC
Posts: 1,449
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Escapees should be able to help. This is a huge part of their business.
__________________
2012 Newmar King Aire + 24' Stacker = 74' of Chaos!
We usually have our 4 dogs with us - 2 Labs, 1 Chihuahua / Pug & 1 Corgi / Pappillon
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09-12-2020, 03:18 PM
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#5
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Junior Member
Join Date: Oct 2015
Posts: 3
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Quote:
Originally Posted by brianw8602
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Thanks, Brian! I think this will give Schwab’s legal guys something to start with.
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09-12-2020, 03:27 PM
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#6
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Junior Member
Join Date: Oct 2015
Posts: 3
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Quote:
Originally Posted by Old-Biscuit
WHY are you 'domiciled' in SD and using a TX Mailing Address???
Why don't you set up thru Escapees a TX domicile and Mailing Address?
Escapees in Livingston has been 'tested'
Use the same mailing address and Domicile
And I would do it SOON before your Schwab accounts are 'LOCKED"
Call Escapees and discuss the Patriot Act and their dealings
Phone: 936-327-8873
brainw8602
That is VERY Good info you posted .
Thanks!
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Thanks for your reply. We had established mail forwarding with Escapees a couple of years before selling the majority of our hard assets which enabled a change of domicile.
As to your other suggestions: we did all of them and were referenced to their legal representative. They were helpful with the wording for their work around but was not nearly as specific as Brian.
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09-13-2020, 01:24 PM
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#7
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Senior Member
Tiffin Owners Club
Join Date: Jul 2016
Location: Where we park it!
Posts: 13,145
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We were able to get around the problem using St. Brendan's isle in Florida for our legal address. We have been using them for our address and mail forwarding company for 7 years or so and NO problems at all. Have our Driver's lic and voter reg through them and no problem with Ameritrade.
__________________
momdoc
2018 Tiffin Allegro RED 37PA
2020 JEEP Trailhawk
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09-17-2020, 07:45 PM
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#8
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Senior Member
Join Date: Oct 2012
Posts: 1,111
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Do not overthink this.
Get a friend or relative to give you permission to use their address.
Use that address as your “home” address-not your billing address.
Change all your statements and paperwork to electronic delivery.
Never worry about this again.
That is what I do and not a single piece of mail has ever arrived for me at that address.
__________________
2021 Newmar Ventana 3717 with 2019 Ford Ranger toad
Full timing since 2016
My life goal is to be as smart as the others on this forum.
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09-17-2020, 08:01 PM
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#9
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Senior Member
Foretravel Owners Club
Join Date: Apr 2016
Location: Home is Where WE PARK IT...
Posts: 6,059
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RE: SD domicile..
Have ALL of your "Official Mail" including ALL Banking/insurance/medicare/SS/ SD Voter registration, SD drivers lic/car reg & insurance go To the SD address.
ONLY personal mail(family.friends,magazines) should go direct to Livingston.
__________________
Retired truckdriver,
'02 Foretravel... "This Shack will do"
being pushed by an '06 Scion xB
SKP's of Box Elder, South Dakota
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09-17-2020, 10:32 PM
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#10
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Senior Member
Join Date: May 2009
Location: Mariposa, CA
Posts: 3,933
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Quote:
Originally Posted by mike2346
Schwab informs us that a residential address is required as a money laundering preventive measure by the Patriot Act. Any ideas
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A residential address is not required as part of the Patriot Act. However, if you don't have a residential address, the Patriot Act requires contact information (page 480, bottom right column):
(ii) For an individual who does not have a residential or business street address, an Army Post Office (APO) or Fleet Post Office (FPO) box number, or the residential or business street address of next of kin or of another contact individual
So get the address of another "contact" and call Schwab with this info. If you get pushback, ask to speak with someone in their Compliance Department. If none of this works, look for a different broker and specify a contact from the get go.
__________________
2003 - 2010: 2004 35' National RV Sea Breeze LX 8341
2010 - 2021: 2001 41' Newmar Mountain Aire 4095
2021 - ???? : 2001 31' National RV Sea View 8311
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