Posted By: Georgie Girl
CTR on an LLC - 03/02/09 09:23 PM
I am trying to clarify the correct way to handle CTRs for LLCs. Example: ABC Inc owns XYZ LLC. XYZ LLC uses the same TIN as ABC Inc (becuase they are a single member LLC/disregarded entity with no employees).
Question #1: Should transactions that are for the benefit of XYZ LLC be aggregated with transactions that benefit ABC Inc, since ultimately ABC Inc benefits (as the owner) of XYZ LLC?
Question #2: If I need to file a CTR only for transactions benefitting or involving XYZ LLC, should I list only XYZ LLC in Section A or should I list both ABC Inc and XYZ LLC?
Question #1: Should transactions that are for the benefit of XYZ LLC be aggregated with transactions that benefit ABC Inc, since ultimately ABC Inc benefits (as the owner) of XYZ LLC?
Question #2: If I need to file a CTR only for transactions benefitting or involving XYZ LLC, should I list only XYZ LLC in Section A or should I list both ABC Inc and XYZ LLC?