circular reference.
Loan to a trust, and the trustee is the trust.
we do have an individual as the manager.

is this a case that we list the manager as the person in control and get on with our lives?

I would have a lot of questions about why the structure is what it is, and without a good explanation, I would probably be heading toward a SAR filing. There may be a legitimate reason for this, and I'd be very curious to hear it, but I can't think of anything other than evasion.

By the letter of the rule, I believe you would name the LLC as it's own owner and the manager as the control person. By the spirit of the rule, that seems insufficient and is taking advantage of what seems to me to be a poorly considered FAQ answer.

I really don't understand what this means "Loan to a trust, and the trustee is the trust."

Exactly where does the LLC come into play?

sorry
Loan to an LLC that is owned by a trust and the trustee is the LLC
that is the circular reference.

You need your legal counsel involved before you touch this.