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In this issue:
ITA Conference A Great Success
ITA elects new officers at annual meeting
Iowa's New Charitable Trust Registration Rules
Legislative Preview Meetings
It's A Matter of Trust - ITA Offers Brochure to Promote Choosing a Corporate Trustee
Trustcompare.com
ITA Newsletter Subscription

ITA Conference A Great Success

A special thank you to all who helped make the 2009 ITA Annual Conference a great success. Over 70 trust professionals attended this year's event featuring sessions on regulatory updates, market updates, assisting trust clients, tax laws, estate planning, and understanding the credit crisis. This year's event was approved for 8.75 hours of CLE credit, 11 hours of CTFA credit and 8.5 hours of CFP hours.

Fourteen exhibitors were present at this year's event. Thank you to representatives from these companies for sharing their products and services with attendees.

Accutech Systems Corporation - Bob Darby BTC Capital Management - Brian Rolland Broadridge Financial Solutions - Joseph Calderone Broker Dealer Financial Services - Kate Juelfs Federated Investors - Shawn Knutson Home Instead Senior Care - Steve Habenicht HWA International, Inc. - Laura Morine IPE 1031 - David Brown INFOVISA, Inc. - Trasha Schwendener Insurance IQ - Leon Wessels Main Street Advisors - Katherine Montegue, John Sajdak Peoples Company - Steve Bruere ProxyTrust - Walt Lotspeich WB Capital Management - David Jackson

Thank you also ProxyTrust, Broadridge Financial Solutions and BTC Capital Management for their sponsorship of the conference.

Mark your calendar for next year's ITA Annual Conference. The event will be at the Marriott Courtyard in Ankeny on October 7-8, 2010.

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ITA elects new officers at annual meeting

At the annual meeting of the Iowa Trust Association Paula Petersburg was elected President and James Benda was named Vice-President of the statewide association. Petersburg is Vice President and Trust Officer at Clear Lake Bank & Trust. Benda is Vice President and Senior Trust Officer at West Bank in West Des Moines. Incoming board members for ITA this year are Rick Krug from Farmers Savings Bank & Trust in Traer, Randy Petche from Bankers Trust in Cedar Rapids and Todd Silliman from Bank Midwest in Spirit Lake.

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Iowa's New Charitable Trust Registration Rules

by Sue Pence, Vice President and Trust Officer, Bankers Trust Company, Cedar Rapids

Two new provisions of the Iowa Trust Code require trustees of many charitable trusts to file reports with the Iowa Attorney General beginning July 1, 2009. These new statutes enable the AG's office to comply with its duties to protect the charitable interests created by these trusts. Below is a summary of these new statutory requirements to help you determine whether and how these new rules affect the charitable trusts managed in your office.

WHO must report:
Trustees for trusts covered by these new statutes are responsible for filing the new reports. The trusts subject to the new reporting requirements are those which:
1.Have assets worth more than $25,000; and
2.Are administered in Iowa; and
3.Are also one of the following three types of charitable trusts:

a. 501(c)(3) tax-exempt organizations; or b. Charitable remainder trusts as defined in Internal Revenue Code section 664(d); or c. Charitable lead trusts as defined in Internal Revenue Code section 2055(e) or 2522(c)(2)(b).

WHAT to report: Two types of reports must be filed for each charitable trust subject to these new reporting requirements-initial and annual:
1. Initial Report-use the Charitable Trust Registration Form available from the Iowa Attorney General's website, and include a copy of the trust agreement.
2. Annual Report-any one of the following three formats will be accepted:

a. 501(c)(3) tax-exempt organizations; or b. Charitable remainder trusts as defined in Internal Revenue Code section 664(d); or c. Charitable lead trusts as defined in Internal Revenue Code section 2055(e) or 2522(c)(2)(b).

WHEN to report:
"For charitable trusts in existence on 7/1/09 which meet the "who must report" requirements described above, the initial report is due within 135 days after the close of the trust's fiscal year ending after 7/1/09. Example: for trusts with fiscal year end of 12/31, the initial report will be due 5/15/10. Annual reports will be due each year thereafter on 5/15.

"For charitable trusts created after 7/1/09, the initial report is due within 60 days after the trust becomes subject to these new regulations (see "who must report" section above). Annual reports must be filed within 135 days after the trust's fiscal year-end thereafter.

For other information, contact the Iowa Attorney General's office (call 515-281-5164 or visit their website: www.iowa.gov/government/ag/protecting_giving/Charitable_Trust_Registration_Form

Sue Pence, Vice President & Trust Officer
Sue is a native Cedar Rapidian and joined Bankers Trust in 2009 with over 19 years of experience in Personal Trust with several banks in the Cedar Rapids and Iowa City areas. She enjoys using her extensive knowledge and experience in estate and retirement planning to help individuals and families. Sue earned B.A. and J.D. degrees from the University of Iowa. Sue is a member of the Johnson County and Iowa State Bar Associations, and currently serves as board secretary of the Iowa Women’s Foundation, member of the Red Cross Planned Giving Committee, and Brucemore Finance Committee.

Brian Rolland, CPA, CMA, CTP, Vice President & Institutional Sales Consultant
Brian is Vice President and Institutional Consultant for BTC Capital Management, an affiliate of Bankers Trust Company, N.A. He is an integral member of our sales team and focuses his efforts on institutional clients. Brian has earned the following accreditations during his career in investments: Certified Public Accountant (CPA), Certified Managerial Accountant (CMA), and Certified Treasury Professional (CTP). Brian has a Bachelor’s degree from the University of Northern Iowa and a Masters of Accounting degree from the University of Iowa. Prior to joining BTC Capital Management, Brian was head of institutional sales at WB Capital Management Inc.

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Legislative Preview Meetings

Plan to attend the IBA annual Legislative Issues Preview Meeting hosted by the Iowa Bankers Association in November. The meetings will take place across the state in each IBA Group from Nov. 9 through Nov. 23. The meetings provide an opportunity for IBA members and their state legislators to learn more about the Association’s legislative agenda prior to the beginning of the legislative session.

The meetings will take place:

Monday, Nov. 9 -- Burlington (Group 11)
Tuesday, Nov. 10 -- Council Bluffs (Group 5)
Thursday, Nov. 12 -- Marshalltown (Group 7)
Monday, Nov. 16 -- Johnston (Group 6)
Tuesday, Nov. 17 -- Cherokee (Groups 1 & 12)
Wednesday, Nov. 18 -- Fort Dodge (Group 2)
Wednesday, Nov. 18 -- Mason City (Group 3)
Thursday, Nov. 19 -- Coralville (Group 8)
Monday, Nov. 23 -- Manchester (Group 4)

Topics of discussion will include federal deductibility, state budgeting practices, property tax reform, the expansion of credit union powers, right to work and prevailing wage, among others.

For a detailed agenda with meeting times and locations, refer to the Iowa Bankers Association's website at www.iowabankers.com.

For more information on the upcoming Legislative Issues Preview Meetings, contact the IBA’s Senior Vice President of Government Relations Sharon Presnall or IBA Legal Counsel Bob Hartwig at (800) 532-1423.

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It's A Matter of Trust - ITA Offers Brochure to Promote Choosing a Corporate Trustee

Choosing qualified trust professionals is an important part of estate planning. How do you counsel clients and potential clients about the qualities of an effective trustee? To help you the Iowa Trust Association has produced a brochure outlining the qualities of an effective trustee and the advantages of a corporate trustee.

This cost effective brochure is 5½” x 8 ½” and can be personalized with your bank name, address, city state, phone and web address. Educate your trust clients about the qualities that make an effective trustee with these helpful brochures.

Order a supply of these brochures today. To see the complete text of the brochure, go to www.iatrust.com.

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Trustcompare.com

Trustcompare provides valuable information ranging from broad references to industry standards to specific detail of your strengths and weaknesses. From data submitted by each organization regarding assets, income, expenses and profits, Trustcompare analyzes performance from several perspectives. Trustcompare allows you to compare your trust department performance with that of similar organizations. As a member of the Iowa Trust Association, you will receive 10% off the price. Visit Trustcompare at www.trustcompare.com.

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ITA Newsletter Subscription

If this message was forwarded to you and you would like to receive the ITA Newsletter, e-mail Darcy Burnett to subscribe.

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