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#2202563 - 01/10/19 03:51 PM NAICs code reflect Corporation or DBA
Bec Offline
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CTR involving two accounts with two separate DBAs. One DBA operates as a gas station/convenience store, the other DBA operates as a tire center/auto repair. When filling out the CTR do you report the NAICS/occupation for the corporation or do you report the NAICS/occupation for the DBA?
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#2202573 - 01/10/19 04:18 PM Re: NAICs code reflect Corporation or DBA Bec
praBSA Offline
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I would just type both into 9, and leave 9a blank. They aren't required fields, don't stress over it.

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#2202581 - 01/10/19 04:37 PM Re: NAICs code reflect Corporation or DBA Bec
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It was my understanding that FinCEN prefers having separate Part I's if there are multiple DBAs? So really, I could separate them out and report each DBA 9 and 9a distinctly. But, my question, is that the most accurate? Does FinCEN prefer having the information for the Corporation, or would they prefer the NAICS/occupation of the actual entity the cash relates to which is different than the Corporation? I don't believe I mentioned that the umbrella corporation operating the fictitious enterprises is a fuel wholesaler. My thought is that the NAICS/Occupation of the DBA would be more beneficial but I have been wrong before when trusting my intuition. Perhaps I should just contact FinCEN, but if anyone out there has dealt with this kind of thing before, let me know your approach smile
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#2202594 - 01/10/19 05:22 PM Re: NAICs code reflect Corporation or DBA Bec
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Quote:
It was my understanding that FinCEN prefers having separate Part I's if there are multiple DBAs?


We should never have more than one Part I for the same tax identification number. (This is consistent with the instructions for item 2 when more than one applies to the same person.

This is not a true statement. Multiple DBAs are entered into the alternate name field separated by a semi colon.
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#2202618 - 01/10/19 06:43 PM Re: NAICs code reflect Corporation or DBA Bec
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I double checked with FinCEN help desk and they responded quite quickly. The question:

Corporation A brings in cash deposits for DBA 1 and DBA 2.

Their response: The only option to include multiple DBAs of a single legal entity is to have them in separate Part I's. If doing so, each Part I should represent the information of that DBA (NAICS/Occupation, etc).
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#2202627 - 01/10/19 07:03 PM Re: NAICs code reflect Corporation or DBA Bec
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Does each entity have separate TINs? That is the only way I'd go with what FinCEN said. If they all operate under the same TIN, I'd use the NAICS code of the corporate business and do what Brian said for the DBAs - enter them in the alternate name field.
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#2202679 - 01/10/19 10:18 PM Re: NAICs code reflect Corporation or DBA Bec
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I'll see if I can get a clarification on that point. The inference was that it was a single legal entity with an EIN and two DBA's operated by it. At least that was my inference. Like I said, this is the second time I have asked them a similar question and their answer is the same. when I spoke with the representative on the phone I specifically mentioned that the guidance is to put both of the DBA names on 9a separated by a semicolon. He agreed that was the common thinking but that there was a problem with how that type of reporting was received on FinCEN's end and they prefer two separate part Is.

I'll let you know what they come back with in terms of the clarification that this guidance stands knowing that they are all operating under the same TIN. Thank you for thinking of that.
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#2202688 - 01/10/19 10:51 PM Re: NAICs code reflect Corporation or DBA Bec
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Just received word back from the FRC@fincen.gov helpdesk. With the point of clarification on the DBAs and entity being organized under the same EIN, their response was:

"That would not make a difference in the guidance provided."
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#2202692 - 01/11/19 01:40 AM Re: NAICs code reflect Corporation or DBA Bec
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Obviously follow the guidance you are provided, but as usual, the helpline contradicts itself depending on who you talk to. I've been answering this same question pretty consistently for the last 4-5 years.

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#2202856 - 01/14/19 04:08 PM Re: NAICs code reflect Corporation or DBA Bec
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I know, BrianC. I have seen those threads and I find it so weird that the helpdesk have guided the way they have. But it has been two times that they have responded to me in that manner so I am going to put the email (yes, they EMAILED!!) in my back pocket and follow their suggestion.
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#2203169 - 01/16/19 07:52 PM Re: NAICs code reflect Corporation or DBA Bec
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And I will offer this -- When there is written guidance on how to do something and you get contradicting oral guidance from FinCEN staff, stick with the written guidance. That's what your examiner is going to trust, and if FinCEN intends that the written guidance be changed, it should just do it -- in written guidance form.
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