Completing CTR for DBA

Posted By: Golfer9

Completing CTR for DBA - 07/10/08 04:55 PM

If the customer is an individual doing business as a convenience store and we so indicate in Saction A of Part I, entering the address of a business, then while entering the individual's SS# in #6, the business address in #7, would we leave the DOB blank and enter NA in #14? Then we could complete Section B, entering the owner's name again, but this time entering the home address for the owner, the DOB ad the DL info? I realize we might just complete all the information in Section A and put conducted on own behalf in Section B, but 1) it is actually conducted on behalf of the business rather than the individual, but more importantly should we be able on the CTR to identify both the business address and then the individual's permanent address?
Posted By: nemsi

Re: Completing CTR for DBA - 07/10/08 05:02 PM

Complete section A as though the CTR was on behalf of an individual: name, address, social, date of birth, drivers license, etc. The only difference is you will add the DBA on line 5. Check block "e" in section B- no other info.

I'm assuming that the dba is a "sole proprietorship." If not everything I just said is incorrect.
Posted By: smash

Re: Completing CTR for DBA - 07/10/08 05:06 PM

Here is a link to some guidance that FinCEN released in January 2008 regarding this very issue:

http://www.fincen.gov/statutes_regs/guidance/pdf/fin-2008-r001.pdf
Posted By: Golfer9

Re: Completing CTR for DBA - 07/10/08 07:45 PM

Thank you so much - that article was perfect!
Posted By: CantBeShocked

Re: Completing CTR for DBA - 07/14/08 05:40 PM

NOTE: Do not forget the date of birth or the IRS will notify you it is lacking information - if you file electronically.