Why does it matter if it is a joint account?

 

As a joint account between two individuals, the UI Agency cannot seize funds from it due to the fact that the other person listed on the account may or may not have anything to do with the employer.

 

If it’s a joint account between the corporate entity and an officer for example, that money could potentially still be frozen. These situations can take a little bit more time/coordination between the bank and the agency to determine if account is valid. “joint account’ notes that the bank has responded and there is an account, but whether or not assets will be held is still pending.

Lien