Posted By: MBTCompliance
CTR Ruling for Sole Proprietorships and Legal Enti - 02/12/20 04:17 PM
Can you help me decipher this CTR ruling which was issued yesterday?
https://www.fincen.gov/index.php/re...gs/fincen-ctr-form-112-reporting-certain
Regarding sole proprietorships, if we have…
•John Doe DBA Doe Farms
•John Doe DBA Doe Rentals
…then would we have two Part I’s for each DBA with John’s personal info, the DBA name, and the account number/amount deposited to each?
Or if…
•Both of John’s DBA operate from the same address
…then would we still have two Part I’s since there are two DBA, or, since the address (location) is the same, would we only have one Part I?
Regarding legal entities, if we have…
•ABC Inc DBA ABC Hardware
•ABC Inc DBA ABC Auto Parts
•Both DBA operate at a different address
…then would we have three Part I’s; one Part I for the home office with ABC’s legal name only, no DBA name listed, account number/amount deposited aggregated from both DBA, and two more Part I’s with ABC’s legal name and each separate DBA name listed with account number/amount deposited to each?
But if…
•Both of ABC’s DBA operate from the same address which is same as the entity address
…then would we have only one Part I, or would we have two Part I since there are two DBA?
https://www.fincen.gov/index.php/re...
Regarding sole proprietorships, if we have…
•John Doe DBA Doe Farms
•John Doe DBA Doe Rentals
…then would we have two Part I’s for each DBA with John’s personal info, the DBA name, and the account number/amount deposited to each?
Or if…
•Both of John’s DBA operate from the same address
…then would we still have two Part I’s since there are two DBA, or, since the address (location) is the same, would we only have one Part I?
Regarding legal entities, if we have…
•ABC Inc DBA ABC Hardware
•ABC Inc DBA ABC Auto Parts
•Both DBA operate at a different address
…then would we have three Part I’s; one Part I for the home office with ABC’s legal name only, no DBA name listed, account number/amount deposited aggregated from both DBA, and two more Part I’s with ABC’s legal name and each separate DBA name listed with account number/amount deposited to each?
But if…
•Both of ABC’s DBA operate from the same address which is same as the entity address
…then would we have only one Part I, or would we have two Part I since there are two DBA?