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#656104 - 12/21/06 11:04 PM DBA taking care of business
Anonymous
Unregistered

On a CTR, can a DBA conduct a transaction on its own behalf?
John Dobbs DBA Johnny's Pizza, TIN 72-xxxxxx, DOB blank since it is an entity, John Dobbs did the transaction so we checked "conducted on own behalf" and left Part B blank. Is this correct, or should we have indicated John Dobbs in Part B, and included his personal social security number in Part B?

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#656145 - 12/22/06 03:41 AM Re: DBA taking care of business Anonymous
Tom at HOME Offline
Diamond Poster
Joined: Oct 2005
Posts: 1,139
And individual doing business using a trade name is not an entity separate from the individual, regardless their use of a TIN or not. A trade name is a FICTISIOUS name.

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#656222 - 12/22/06 02:40 PM Re: DBA taking care of business Tom at HOME
TXBSA Offline
100 Club
Joined: May 2006
Posts: 170
TX
I would have put John Dobbs in section b. His identfying information is different from the DBA. He actually did the transaction for the business, not for his personal account.

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#656723 - 12/22/06 10:31 PM Re: DBA taking care of business TXBSA
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,798
Cape Cod
Actually, our friends at FinCEN would have you complete the CTR a different way. In FIN 2006-R003, we're instructed to list the individual (with his/her SSN, DOB, and residence address) in Section A on the front, check "conducted on own behalf" above Section B (leave Section B blank), and complete a second Section A entry on the business, by listing the owner again, adding the DBA name in item 5, supply the business address and the EIN (if one has been assigned) for the business. Back on the front of the form, be sure the "multiple persons" box is checked in item #1.

It is FinCEN's view that the transaction benefits both the owner as an individual and the business, so both are listed. It's the only example I know of where you would list the same individual more than once on a CTR. It's also a bit of tortuous reasoning that arrived at the FinCEN ruling, IMO.
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#657023 - 12/26/06 04:34 PM Re: DBA taking care of business John Burnett
Anonymous
Unregistered

Thank you - this was very helpful.

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