Party Identification Financial Institution Account Holder Type Code This is the code to identify the type of account holder. Valid values are: Client Owned Account = Client owned account. Client Joint Owned Account = Client jointly owned with others. Tax Practitioner Owned Account = Account owned by tax practitioner for a client. Legal Practitioner Owned Account = Account owned by legal practitioner acting as a trustee or executor for a client. Financial Institution Account No Longer Valid Indicator This indicates whether the bank account is closed or no longer valid. A choice of TRUE/FALSE values. true = account is closed or no longer valid. false = account is open and valid.