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#2239197 - 07/07/20 08:15 PM DBA
Compliance Action Subscriber 1226 Offline
100 Club
Joined: Sep 2015
Posts: 141
We have some people coming from another bank to open accounts at our institution because their bank is merging with another bank.
Some of these are DBA that were started many years ago when it was not required to get a DBA certificate. In Illinois, it is a requirement now. If they are using an EIN, can we copy the top of their tax return showing the IRS recognizes the business as an entity? What should we do with those that use a SSN? And since they will opening a new account with our bank, would we require that they obtain a DBA certificate?

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#2239198 - 07/07/20 08:27 PM Re: DBA Compliance Action Subscriber 1226
RockChucker, CAMS Offline
Diamond Poster
Joined: Jul 2013
Posts: 1,528
The Country
The IRS has 0 effect/authority on if an entity is properly organized, all the IRS cares about is collecting money. Your secretary of state is where the customer should register the business entity. P.S. calling something a DBA is not very helpful in determining what type of entity is.
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